Economy

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

Fed Takes Emergency Steps to Slash Rates and Ease Bank Rules

WASHINGTON (AP) — The Federal Reserve took massive emergency action Sunday to try to help the economy withstand the coronavirus... Read More

WASHINGTON (AP) — The Federal Reserve took massive emergency action Sunday to try to help the economy withstand the coronavirus by slashing its benchmark interest rate to near zero and saying it would buy $700 billion in Treasury and mortgage... Read More

2020-03-16 13:15:06
by Dan McCue
House Strikes Deal With White House, Passes Sweeping Coronavirus Relief Package

WASHINGTON - The House passed an emergency spending package in overwhelmingly bipartisan fashion Saturday morning, just hours after reaching an... Read More

WASHINGTON - The House passed an emergency spending package in overwhelmingly bipartisan fashion Saturday morning, just hours after reaching an agreement with the White House on the next steps in addressing the unfolding coronavirus outbreak. The vote on the 110-page... Read More

Trump’s Stock Market Now Worst Since Double-Recession George W. Bush

WASHINGTON — The return on stocks since Donald Trump’s presidential election win in 2016 has slumped to 24% thanks to... Read More

WASHINGTON — The return on stocks since Donald Trump’s presidential election win in 2016 has slumped to 24% thanks to the historic rout the past three weeks, undercutting what had been a better-than-average gain for American leaders over the past... Read More

Coronavirus Response Puts Administration Weaknesses Under Spotlight

WASHINGTON — President Donald Trump’s inattention to detail, distaste for experts, need for validation and belief that he can create... Read More

WASHINGTON — President Donald Trump’s inattention to detail, distaste for experts, need for validation and belief that he can create his own set of alternative facts have been hallmarks of his political rise. But after three years in which daily... Read More

Trump Suspends All Travel From Europe to US Over ‘Horrible’ Coronavirus Pandemic

President Donald Trump took the extraordinary step Wednesday of announcing a suspension of all travel from Europe to the U.S.... Read More

President Donald Trump took the extraordinary step Wednesday of announcing a suspension of all travel from Europe to the U.S. in an effort to contain the coronavirus, calling the fast-spreading respiratory illness a “horrible” pandemic that requires an “aggressive” response.... Read More

Congress Skeptical of Trump’s Payroll Tax Cut as Bipartisan Talks Begin to Address Coronavirus

WASHINGTON — One of President Donald Trump’s key proposals to confront the economic fallout of the novel coronavirus — a... Read More

WASHINGTON — One of President Donald Trump’s key proposals to confront the economic fallout of the novel coronavirus — a payroll tax cut — got mixed reviews from Senate Republicans on Tuesday during a Capitol Hill strategy-planning lunch that ended... Read More

2020-03-11 18:05:14
by Dan McCue
Blue Dogs Support Stimulus Package While Stressing COVID-19 Threat Highlights Deficit Dangers

WASHINGTON - The Blue Dog Coalition of House Democrats are throwing their support behind a potential economic stimulus package aimed... Read More

WASHINGTON - The Blue Dog Coalition of House Democrats are throwing their support behind a potential economic stimulus package aimed at helping Americans deal with the coronavirus outbreak. But in doing so, the coalition of fiscally-responsible Democrats said the crisis... Read More

As Recession Fears Mount, Eyes Turn to The American Consumer

WASHINGTON — As the White House, Congress and the Federal Reserve struggle to stem the growing financial and economic crisis,... Read More

WASHINGTON — As the White House, Congress and the Federal Reserve struggle to stem the growing financial and economic crisis, the likelihood of success may ultimately come down to one factor: the American consumer. What’s largely behind the mounting recession... Read More

2020-02-28 21:12:55
by Dan McCue
Powell Says Federal Reserve Will Take Steps to Protect Economy During Virus Crisis

Fed Chairman Jerome Powell vowed Friday that the central bank will use its entire toolbox to support the economy in... Read More

Fed Chairman Jerome Powell vowed Friday that the central bank will use its entire toolbox to support the economy in the face of worldwide fears over the coronavirus outbreak. "The fundamentals of the U.S. economy remain strong," Powell said. "However,... Read More

Economists See Growing Recession Risk as Coronavirus Spreads

WASHINGTON — As the coronavirus outbreak enters a potentially dangerous new phase, with cases widening in Europe and expected to... Read More

WASHINGTON — As the coronavirus outbreak enters a potentially dangerous new phase, with cases widening in Europe and expected to spread in the United States, economists have begun to raise their estimates for the risk of a global recession and... Read More

Trump Facing Growing Coronavirus Crisis Amid Market Jitters and Administration Chaos

President Donald Trump vowed to take on coronavirus Wednesday even as a plunging stock market and chaos within his own... Read More

President Donald Trump vowed to take on coronavirus Wednesday even as a plunging stock market and chaos within his own administration laid bare a potential major global crisis that could threaten his reelection battle. Returning from a trip to India,... Read More

2020-02-19 19:21:02
by Dan McCue
Industry Analysis Finds Trump’s War Restricts Solar Energy Job Growth

President Donald Trump's tariff war with China significantly restricted the growth of the nation's solar energy workforce last year, an... Read More

President Donald Trump's tariff war with China significantly restricted the growth of the nation's solar energy workforce last year, an industry analysis shows. According to a report released Wednesday by The Solar Energy Foundation, a nonprofit, nonpartisan organization dedicated to... Read More

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