Economy

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

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