Economy

US Mortgage Rates Fall Ahead of Spring Home Buying Season
Economy
US Mortgage Rates Fall Ahead of Spring Home Buying Season
2019-03-21 23:29:26
by Dan McCue

Long-term fixed-rate mortgage rates fell to 4.28 percent this week, potentially giving consumers more incentive to commit to purchasing a home just as the spring home buying season gets under way, Freddie Mac said on Thursday. The average rate on... Read More

Baltimore Sues To Force Second Jewel Of Triple Crown To Stay Put
Litigation
Baltimore Sues To Force Second Jewel Of Triple Crown To Stay Put
2019-03-20 21:34:55
by Dan McCue

Baltimore Mayor Catherine Pugh sued the owners of Pimlico Race Course on Tuesday in a bid to block them from moving one of the city's signature sporting events, the Preakness Stakes, to another thoroughbred racing track in Maryland. Pugh, a... Read More

Federal Reserve Foresees No Additional Interest Rate Hikes This Year
Economy
Federal Reserve Foresees No Additional Interest Rate Hikes This Year
2019-03-20 20:53:15
by Dan McCue

The Federal Reserve's policymaking Federal Open Market Committee said Wednesday there will be no more interest rate hikes this year, baring a significant, unforeseen change in the economy. The unanimous decision by the committee following its two-day meeting this week... Read More

Federal Reserve, Meeting This Week, Expected to Act With A Steady Hand
Economy
Federal Reserve, Meeting This Week, Expected to Act With A Steady Hand
2019-03-19 23:30:25
by Dan McCue

Steady as she goes. That was the widely held expectation as the Federal Open Market Committee, the policy-making arm of the Federal Reserve, gathered Tuesday morning to kick off its two-day meeting this week. Given statements made by Fed Chairman... Read More

US Industrial Production Rose a Sluggish 0.1 Percent in February
Economy
US Industrial Production Rose a Sluggish 0.1 Percent in February
2019-03-15 22:39:51
by Dan McCue

U.S Industrial production rose just 0.1 percent in February, slowed by the second straight monthly decline in manufacturing activity, the Federal Reserve said Friday. The central bank said manufacturing production dropped 0.4 percent last month, held down by declines in... Read More

Consumer Prices Rose Slightly In February, But Inflation Remains Tame
Economy
Consumer Prices Rose Slightly In February, But Inflation Remains Tame
2019-03-12 15:17:06
by Dan McCue

Consumer prices rose a slight 0.2 percent in February, the first increase in four months, but inflation remains tame, the Labor Department said Tuesday. The latest consumer price index, which measures what Americans pay for a wide range of products,... Read More

Kudlow Brushes Off Calls for Economic Slowdown, Says 3% Growth Can Continue
Economy
Kudlow Brushes Off Calls for Economic Slowdown, Says 3% Growth Can Continue

WASHINGTON ––President Donald Trump’s chief economic adviser said Sunday that U.S. economic growth can continue at 3 percent in 2019 and beyond, even as many private economists look for a slowdown this year as the effects of the 2017 Republican... Read More

US Employers Slam Brakes On Hiring, Add Just 20,000 Jobs in February
Economy
US Employers Slam Brakes On Hiring, Add Just 20,000 Jobs in February
2019-03-08 20:58:38
by Dan McCue

US employers added just 20,000 jobs in February, a sharp pullback after a quarter of solid gains averaging 186,000 new jobs a month, the Labor Department reported Friday. The scarcity of new jobs added to the economy is the smallest... Read More

US Household Net Worth Plunged a Record $3.8 Trillion During Fourth-Quarter Stock Tumult
Economy
US Household Net Worth Plunged a Record $3.8 Trillion During Fourth-Quarter Stock Tumult
2019-03-07 22:17:02
by Dan McCue

The net worth of America's households fell by a record $3.8 trillion at the end of 2018, pulled down by sharp declines on Wall Street that briefly pushed the market into bear territory, the Federal Reserve said Thursday. The bracing... Read More

US Consumer Spending in December Threatens Continued Slowing of Economy
Economy
US Consumer Spending in December Threatens Continued Slowing of Economy
2019-03-02 00:55:55
by Dan McCue

U.S. consumer spending tumbled 0.5 percent in December, the Commerce Department reported Friday. The slide, the biggest decline in nine years, is yet more evidence that the 2018 holiday shopping season was a disappointment for retailers and sellers of bigger... Read More

Gates Says Taxing Capital Gains Is the Best Way to Tap Big Fortunes
Federal Budget
Gates Says Taxing Capital Gains Is the Best Way to Tap Big Fortunes

WASHINGTON –– Bill Gates is concerned about the high budget deficits being run by the U.S., and said if taxes are ultimately increased to make up the shortfall, then it’s appropriate for wealthy people to pay much higher taxes. Read More

Will ‘Basic Income’ Become the California Norm?
Economy
Will ‘Basic Income’ Become the California Norm?

SACRAMENTO, Calif. — After months of planning, Stockton, Calif., is sending debit cards loaded with $500 to a select group of residents starting Friday as part of a closely watched experiment in universal basic income, the first led by a U.S. ... Read More

Marijuana Businesses Ask Congress To Grant Them Banking Services
Economy
Marijuana Businesses Ask Congress To Grant Them Banking Services
2019-02-16 01:19:34
by Tom Ramstack

The lack of legal banking services for marijuana-related businesses is creating unnecessary economic barriers and encouraging crime, the owner of a Washington, D.C. marijuana business told Congress this week. A House Financial Services subcommittee called the hearing to determine whether... Read More

Peters, Davis Take Bipartisan Action to Address Rising Student Loan Debt Among America’s Workers
Education
Peters, Davis Take Bipartisan Action to Address Rising Student Loan Debt Among America’s Workers
2019-02-08 20:57:03
by TWN Staff

This week, Congressmen Scott Peters (D-CA) and Rodney Davis (R-IL) led a bipartisan group of 99 Members of Congress to reintroduce H.R. 1043, the Employer Participation in Repayment Act, which would incentivize employers to offer student loan assistance to help... Read More

Wyden, Blunt Move to Support America’s Craft Beverage Industry
Economy
Wyden, Blunt Move to Support America’s Craft Beverage Industry
2019-02-08 20:53:18
by TWN Staff

This week, Senate Finance Committee Ranking Member Ron Wyden, D-Ore., and Senator Roy Blunt, R-Mo., introduced legislation to help ensure the continued growth of America’s craft beverage industry. The Craft Beverage Modernization and Tax Reform Act would permanently establish reduced... Read More

Democrats Go Bold on Economic Plans, A Deliberate Contrast to 2016
Featured
Democrats Go Bold on Economic Plans, A Deliberate Contrast to 2016

WASHINGTON — Asked what her very first act as president would be, Sen. Kamala Harris had a quick answer at a recent televised town hall: enact a tax cut that would boost incomes for working families by as much as $6,000 a ... Read More

The Irreversible Turmoil of the Government Shutdown
Economy
The Irreversible Turmoil of the Government Shutdown

The government shutdown was a tremendous burden for America to bear. The number of federal workers that suffered during the 35-day long haul was 800,000. Some 450,000 were required to come into work without pay. More than 42,000 United States... Read More

PGPF Analysis Shows Government Shutdown Has Direct Negative Impact on American Confidence
Spotlight
PGPF Analysis Shows Government Shutdown Has Direct Negative Impact on American Confidence
2019-02-01 16:09:51
by TWN Staff

This week the Peter G. Peterson Foundation issued its regular Fiscal Confidence Index for the month of January, and the findings were troubling. The report, modeled after the Consumer Confidence Index and fielded in the final days before the government... Read More

Government Shutdown Cost US Economy at Least $6 Billion, Analysis Says
Economy
Government Shutdown Cost US Economy at Least $6 Billion, Analysis Says

President Donald Trump’s pointless government shutdown came to an end — but it cost the U.S. economy at least $6 billion, according to an analysis by S&P Global Ratings. Read More

Tax Preparers Warn Your Refund May Be Smaller Than Usual This Year. Here’s Why
In The News
Tax Preparers Warn Your Refund May Be Smaller Than Usual This Year. Here’s Why

Doing your taxes isn’t just about placing the correct numbers in the boxes of a form and then, as many hope, collecting a refund. There’s also how you feel about your taxes. “It’s a very emotional transaction,” ... Read More

White House Acknowledges Shutdown Could Freeze Economic Growth
Economy
White House Acknowledges Shutdown Could Freeze Economic Growth

In a downward shift, the White House acknowledged Wednesday the partial government shutdown could stifle economic growth. White House officials during the 33-day shutdown have tried to dismiss economists’... Read More

$1.2 Trillion in Risky Corporate Debt Echoes Subprime Mortgage Crisis
Economy
$1.2 Trillion in Risky Corporate Debt Echoes Subprime Mortgage Crisis

Indebted borrowers increasingly take out high-interest, adjustable-rate loans that are packaged into securities and sold to investors eager for a better rate of return. Read More

Bipartisan Bill Would Fight Digital Threats from China
Congress
Bipartisan Bill Would Fight Digital Threats from China
2019-01-19 01:07:04
by TWN Staff

This week, bipartisan legislation was introduced in the House of Representatives to toughen the United States’ position against national security threats posed by technology competitors like China. The bill is sponsored by Representatives Will Hurd (R-TX), C.A. Dutch Ruppersberger (... Read More

Kilmer/Schatz Lead Group of 22 Lawmakers in Effort to Protect Federal Workers
Economy
Kilmer/Schatz Lead Group of 22 Lawmakers in Effort to Protect Federal Workers
2019-01-18 20:23:26
by TWN Staff

This week, a group of 22 lawmakers led by U.S. Senator Brian Schatz (D-Hawai‘i) and U.S. Representative Derek Kilmer (D-Wash.) introduced the Federal Employee Civil Relief Act. The new legislation protects federal... Read More

Senators Mark Warner and Marco Rubio Introduce Bipartisan Bill
National Security
Senators Mark Warner and Marco Rubio Introduce Bipartisan Bill
2019-01-04 20:42:02
by TWN Staff

On Friday, bipartisan legislation was introduced by Vice Chairman of the Senate Select Committee on Intelligence Sen. Mark R. Warner (D-VA) and Committee member Sen. Marco Rubio (R-FL) to combat tech-specific threats to national security posed by foreign actors like ... Read More

Blue Dogs Work to Restore Fiscal Responsibility to Government
Federal Budget
Blue Dogs Work to Restore Fiscal Responsibility to Government
2019-01-04 20:41:42
by TWN Staff

This week, Democrats took back the majority in the U.S. House of Representatives following 2018's historic midterm elections. One of the first orders of business? Establish rules for the 116th Congress. H.Res.6, "A Resolution Providing for the House ... Read More

New Mexico State Speaker of the House Brian Egolf Discusses Education and Economic Priorities
Spotlight
New Mexico State Speaker of the House Brian Egolf Discusses Education and Economic Priorities
2018-12-21 21:52:26
by TWN Staff

Looking ahead to a new legislative term, The Well News had the opportunity to speak with New Mexico Speaker of the House Brian Egolf about his priorities and goals. Read More

Democrats Will Push to Restore State and Local Tax Deductions
Economy
Democrats Will Push to Restore State and Local Tax Deductions

One of the most contentious fights of the Republicans’ tax law is about to go another round. Democrats from high-tax states — including California — are preparing a new push to restore the state and local tax deduction... Read More

Big States Missing Out on Online Sales Taxes for the Holidays
Economy
Big States Missing Out on Online Sales Taxes for the Holidays

Big states such as California, New York and Texas likely will miss out on millions in sales tax revenue this holiday shopping season because they have failed to implement laws and regulations for collecting state sales tax from... Read More

US Hiring Slows to 155,000 Jobs in November
Economy
US Hiring Slows to 155,000 Jobs in November

Job growth slowed significantly in November but still was solid, indicating the economy remains in good shape but not expanding so quickly that it will lead to sharply higher interest rates. U.S. employers added 155,000 jobs last month, well below ... Read More

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