Economy

2020-04-07 20:48:33
by Dan McCue
Trump Removes Watchdog Expected to Oversee $2 Trillion Virus Relief Fund

WASHINGTON — President Donald Trump on Tuesday summarily removed the inspector general who was tapped to chair a special oversight... Read More

WASHINGTON — President Donald Trump on Tuesday summarily removed the inspector general who was tapped to chair a special oversight board of the $2.2 trillion economic package intended to help businesses and individuals affected by the coronavirus. Glenn Fine, the... Read More

2020-04-03 16:46:32
by Dan McCue
Economy Lost 701K Jobs After Coronavirus Bite Took Hold

WASHINGTON - The U.S. economy lost 701,000 jobs in March as the coronavirus outbreak spread, ending more than a decade... Read More

WASHINGTON - The U.S. economy lost 701,000 jobs in March as the coronavirus outbreak spread, ending more than a decade of uninterrupted employment growth, the Bureau of Labor Statistics reported Friday. The bureau's monthly employment situation report attributed the shedding... Read More

2020-04-03 16:44:54
by Dan McCue
Ratings Agency Says Non-Bank Mortgage Lenders Face 'Intense' Liquidity Crunch

WASHINGTON - The rating agency Moody's downgraded its outlook for non-bank mortgage lenders in the U.S. from "stable" to "negative"... Read More

WASHINGTON - The rating agency Moody's downgraded its outlook for non-bank mortgage lenders in the U.S. from "stable" to "negative" on Thursday, warning the industry faces "intense" liquidity problems due to the ongoing coronavirus outbreak. As previously reported in The... Read More

Boost the Schmooze? Trump Wants Tax Dining Deduction Back

WASHINGTON (AP) — It may be an odd gesture at a time of social distancing, but President Donald Trump is... Read More

WASHINGTON (AP) — It may be an odd gesture at a time of social distancing, but President Donald Trump is leaning into his plea to Congress to restore full tax benefits prized by business for fine dining and schmoozing. Trump... Read More

2020-04-02 17:17:24
by Dan McCue
Jobless Claims Reach New Record High As 6.6 Million File for Assistance

WASHINGTON - More than 6.6 million Americans filed new claims for unemployment benefits last week, shattering the record number for... Read More

WASHINGTON - More than 6.6 million Americans filed new claims for unemployment benefits last week, shattering the record number for the second week in a row, the Labor Department announced Thursday. Last week, 3.3 million people filed jobless claims, meaning... Read More

2020-03-31 20:43:46
by Tom Ramstack
Price-Gougers‌ ‌Face‌ ‌a‌ ‌Crackdown‌ ‌for‌ ‌Profiting‌ ‌on‌ ‌Coronavirus‌

WASHINGTON‌ ‌-‌ ‌Attorneys‌ ‌general‌ ‌nationwide‌ ‌are‌ ‌joining‌ ‌in‌ ‌urging‌ ‌companies‌ ‌that‌ ‌sell‌ ‌ online to‌ ‌stop‌ ‌price-gougers‌ ‌trying‌ ‌to‌ ‌take‌ ‌advantage‌... Read More

WASHINGTON‌ ‌-‌ ‌Attorneys‌ ‌general‌ ‌nationwide‌ ‌are‌ ‌joining‌ ‌in‌ ‌urging‌ ‌companies‌ ‌that‌ ‌sell‌ ‌ online to‌ ‌stop‌ ‌price-gougers‌ ‌trying‌ ‌to‌ ‌take‌ ‌advantage‌ ‌of‌ ‌consumers‌ ‌during‌ ‌the‌ ‌coronavirus‌ ‌pandemic. They‌ ‌are‌ ‌selling‌ ‌hand‌ ‌sanitizers,‌ ‌aerosol‌ ‌spray‌ ‌disinfectants,‌ ‌surgical‌ ‌masks‌ ‌and‌ ‌other‌ ‌devices designed‌ ‌to‌ ‌prevent‌... Read More

2020-03-31 17:59:31
by Dan McCue
Treasury Rolls Out Airline Aid Strategy, Urging Carriers to Act Quickly

WASHINGTON - The Treasury Department provided some guidance Monday night on how it will award grants and loans to airlines... Read More

WASHINGTON - The Treasury Department provided some guidance Monday night on how it will award grants and loans to airlines affected by the coronavirus outbreak, urging them to apply for "payroll support" by Friday. The department said the resources it... Read More

2020-03-31 16:14:38
by Dan McCue
Real Estate Industry Hoping for Stimulus Aid for Non-Depository Lenders

WASHINGTON - Even before Congress had passed the third economic stimulus package of the coronavirus era on Friday, talk had... Read More

WASHINGTON - Even before Congress had passed the third economic stimulus package of the coronavirus era on Friday, talk had turned to what should be included in a currently hypothetical, but no less likely, fourth stimulus bill. Among the welcome... Read More

2020-03-30 16:48:49
by Dan McCue
White House Listens to Disease Experts, Extends Social Distancing Order

WASHINGTON - Presidential Donald Trump announced Sunday that federal social distancing guidelines that were set to expire March 30 will... Read More

WASHINGTON - Presidential Donald Trump announced Sunday that federal social distancing guidelines that were set to expire March 30 will be extended another month, this after aggressive lobbying by his coronavirus task force. In recent days President Trump has repeatedly... Read More

2020-03-27 20:05:37
by Dan McCue
House Passes $2.2 Trillion Economic Stimulus Package, Trump Quickly Signs It

WASHINGTON - The U.S. House of Representatives passed a $2.2 trillion economic stimulus package in what had to be record... Read More

WASHINGTON - The U.S. House of Representatives passed a $2.2 trillion economic stimulus package in what had to be record time on Friday, speedily sending the bill on to the White House for the president's signature. “This will deliver urgently... Read More

2020-03-27 13:40:19
by Dan McCue
Expert Says USMCA Will Make North American Firms More Competitive

WASHINGTON - Although it barely caused a ripple given the understandable focus on the worldwide coronavirus outbreak, a historic new... Read More

WASHINGTON - Although it barely caused a ripple given the understandable focus on the worldwide coronavirus outbreak, a historic new chapter in North American commerce began two weeks ago Friday, when Canada became the third and final country to ratify... Read More

2020-03-26 15:42:57
by Dan McCue
Unemployment Claims Surge to Historic High As Pandemic Slams Economy

WASHINGTON - U.S. unemployment claims reached a historic high of 3.28 million last week due to a wave of layoffs... Read More

WASHINGTON - U.S. unemployment claims reached a historic high of 3.28 million last week due to a wave of layoffs and business closures stemming from the coronavirus outbreak, the Labor Department reported Thursday. The figure shattered the previous record of... Read More

Senate Unanimously Passes Massive Coronavirus Aid Plan

WASHINGTON (AP) — The Senate passed an unparalleled $2.2 trillion economic rescue package steering aid to businesses, workers and health care systems... Read More

WASHINGTON (AP) — The Senate passed an unparalleled $2.2 trillion economic rescue package steering aid to businesses, workers and health care systems engulfed by the coronavirus pandemic. The unanimous vote Wednesday came despite misgivings on both sides about whether it goes too far... Read More

White House, Congress Agree on $2 Trillion Virus Rescue Bill

WASHINGTON (AP) — The White House and Senate leaders of both major political parties announced agreement early Wednesday on unprecedented... Read More

WASHINGTON (AP) — The White House and Senate leaders of both major political parties announced agreement early Wednesday on unprecedented emergency legislation to rush sweeping aid to businesses, workers and a health care system slammed by the coronavirus pandemic. The urgently... Read More

2020-03-24 13:00:32
by Dan McCue
FCC Expands Telecoms' Spectrum Access to Bolster Wireless Capacity During Pandemic

WASHINGTON - The Federal Communications Commission's Wireless Telecommunications Bureau has granted requests from AT&T and Verizon to use additional spectrum... Read More

WASHINGTON - The Federal Communications Commission's Wireless Telecommunications Bureau has granted requests from AT&T and Verizon to use additional spectrum to help meet escalating wireless demand during the coronavirus outbreak. AT&T has been granted authority to operate in the AWS-4... Read More

2020-03-24 12:54:42
by Dan McCue
DC, Virginia, Maryland Shutter Schools, Close 'Nonessential' Businesses

WASHINGTON -- All K-12 schools in Virginia will remain closed "at least" for the remainder of the current academic year,... Read More

WASHINGTON -- All K-12 schools in Virginia will remain closed "at least" for the remainder of the current academic year, and all restaurants must end dine-in service, Gov. Ralph Northam announced Monday. Northam announced the new measures as the number... Read More

2020-03-23 17:10:26
by Dan McCue
McMaster Latest Governor to Allow 'To-Go' Liquor Sales

South Carolina Gov. Henry McMaster on Saturday directed the state's Department of Revenue to waive regulations and allow restaurants to... Read More

South Carolina Gov. Henry McMaster on Saturday directed the state's Department of Revenue to waive regulations and allow restaurants to include sealed containers of beer and wine for curbside pickup or to-go orders. The move came just days after McMaster... Read More

2020-03-20 16:50:32
by Dan McCue
First Post-USMCA Challenge: COVID-19 Border Closures

WASHINGTON - The Canada-U.S. border will close to all non-essential travel in both directions Friday night, and officials are set... Read More

WASHINGTON - The Canada-U.S. border will close to all non-essential travel in both directions Friday night, and officials are set to impose similar restrictions at the U.S. border with Mexico later today. It was only two months ago President Donald... Read More

Coronavirus Stimulus Plan Could Deliver $3K to Family of Four

The emerging $1 trillion aid package intended to help weather the COVID-19 economic storm appears likely to deliver $1,000 to... Read More

The emerging $1 trillion aid package intended to help weather the COVID-19 economic storm appears likely to deliver $1,000 to every U.S. adult, plus $500 per child, according to Treasury Secretary Mnuchin and a GOP senator involved in the drafting.... Read More

White House, Senators to Negotiate $1T Economic Rescue Deal

WASHINGTON (AP) — Members of President Donald Trump's economic team convene Friday on Capitol Hill to launch negotiations with Senate... Read More

WASHINGTON (AP) — Members of President Donald Trump's economic team convene Friday on Capitol Hill to launch negotiations with Senate Republicans and Democrats racing to draft a $1 trillion-plus economic rescue package amid the coronavirus outbreak. It's the biggest effort yet... Read More

2020-03-19 20:49:14
by Dan McCue
Hoyer Says Jump in Unemployment Claims Is a Further Call to Action in Virus Fight

WASHINGTON - The number of Americans filing new claims for unemployment benefits surged to its highest level in more than... Read More

WASHINGTON - The number of Americans filing new claims for unemployment benefits surged to its highest level in more than two years last week, causing House Majority Leader Steny Hoyer to vow the government will do "everything necessary" to help... Read More

2020-03-19 15:02:34
by Dan McCue
O'Halleran, A Warrior for Job Creation, Seeks Solar Energy Training for Veterans

WASHINGTON - Rep. Tom O'Halleran, D-Ariz., is no stranger to fighting to create jobs and a stronger economy for all... Read More

WASHINGTON - Rep. Tom O'Halleran, D-Ariz., is no stranger to fighting to create jobs and a stronger economy for all Americans. His latest effort in this area is co-sponsoring bipartisan legislation to foster workforce training for transitioning military personnel in... Read More

2020-03-19 14:59:19
by Dan McCue
Sherrill Fights for Local Families by Rolling Back Tax Deduction Caps

WASHINGTON - Rep. Mikie Sherrill, D-N.J., knew it would be a crippling blow to her constituents and the local economy.... Read More

WASHINGTON - Rep. Mikie Sherrill, D-N.J., knew it would be a crippling blow to her constituents and the local economy. It had been bad enough when the Republican Tax Cut and Jobs Act enacted in 2017 capped the deduction middle... Read More

2020-03-19 14:56:33
by Dan McCue
Rice Leads Bipartisan Effort to Address Shortage of Support Professionals

WASHINGTON - Rep. Kathleen Rice, D-N.Y., is one of the leaders in a bipartisan effort to address an oft-overlooked area... Read More

WASHINGTON - Rep. Kathleen Rice, D-N.Y., is one of the leaders in a bipartisan effort to address an oft-overlooked area of jobs development -- the dramatic shortage of support professionals to work with the disabled. Rice, along with Reps. Peter... Read More

2020-03-19 14:48:30
by Dan McCue
Murphy, Cunningham Urge Leadership to Suspend Tariffs During Coronavirus Crisis

WASHINGTON - Reps. Stephanie Murphy, D-Fla., and Joe Cunningham, D-S.C., have written a letter to the Congressional leadership, urging them... Read More

WASHINGTON - Reps. Stephanie Murphy, D-Fla., and Joe Cunningham, D-S.C., have written a letter to the Congressional leadership, urging them to temporarily suspend tariffs imposed by the White House as part of Congress’ upcoming coronavirus response bill. Both Murphy, a... Read More

Kudlow Says Government Could Take Equity Stakes in Companies That Want Aid

WASHINGTON — The White House’s top economic adviser, Larry Kudlow, said the administration may consider asking for an equity stake... Read More

WASHINGTON — The White House’s top economic adviser, Larry Kudlow, said the administration may consider asking for an equity stake in corporations that want coronavirus aid from taxpayers. “One of the ideas is, if we provide assistance, we might take... Read More

White House Seeks $1 Trillion Economic Stimulus, Including Payouts to Americans

WASHINGTON — The Trump administration on Tuesday proposed a $1 trillion economic stimulus package to counter the effects of the... Read More

WASHINGTON — The Trump administration on Tuesday proposed a $1 trillion economic stimulus package to counter the effects of the coronavirus, including relief for small businesses and the airline industry, and sizable checks for Americans in the next two weeks.... Read More

Congress Begins Work on Third Economic Stimulus Bill for The Coronavirus Crisis

WASHINGTON — Lawmakers began negotiating a third economic stimulus bill to prevent the U.S. economy from cracking under the weight... Read More

WASHINGTON — Lawmakers began negotiating a third economic stimulus bill to prevent the U.S. economy from cracking under the weight of the coronavirus epidemic even as efforts stalled Monday to finish work on a second bill that passed the House... Read More

2020-03-16 21:56:18
by Dan McCue
US Airlines Seeking Nearly $60 Billion to Sustain Industry During Virus Outbreak

WASHINGTON - U.S. Airlines are asking for close to $60 billion in government assistance to help them deal with industry... Read More

WASHINGTON - U.S. Airlines are asking for close to $60 billion in government assistance to help them deal with industry travails associated with the ongoing coronavirus outbreak. Airlines for America, the trade association that represents Delta, United, American and Southwest,... Read More

Fauci Says Americans Must Be Prepared to Hunker Down More

WASHINGTON — Americans must be ready for more drastic steps to slow the march of the coronavirus pandemic in the... Read More

WASHINGTON — Americans must be ready for more drastic steps to slow the march of the coronavirus pandemic in the U.S., Dr. Anthony Fauci said Sunday. “Americans should be prepared that they are going to have to hunker down significantly... Read More

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