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Economy

2021-04-13 18:08:10
by TWN Staff
U.S. Airline Struggles Continue a Year After Onset of Pandemic

WASHINGTON - U.S. airlines carried 61% fewer passengers in February 2021 than in February 2020, according to preliminary data from... Read More

WASHINGTON - U.S. airlines carried 61% fewer passengers in February 2021 than in February 2020, according to preliminary data from the U.S. Transportation Department. The analysis, which was carried out by the department's Bureau of Transportation Statistics, suggests airlines serving... Read More

2021-04-09 14:32:23
by Victoria Turner
‘Devil is in the Details’ of Corporate Tax Reform

Just as corporations and tax practitioners are beginning to adjust to the 2017 Tax Cuts and Jobs Act, the Biden... Read More

Just as corporations and tax practitioners are beginning to adjust to the 2017 Tax Cuts and Jobs Act, the Biden administration’s proposed changes would introduce further complexities into an already complicated system, according to three U.S.-based tax attorneys. Biden’s proposal... Read More

Ready to Buy a Home? The Trick is Finding or Affording One

LOS ANGELES (AP) — Nathan Long and Lili Chin have struck out so far in their four-month search to find... Read More

LOS ANGELES (AP) — Nathan Long and Lili Chin have struck out so far in their four-month search to find an affordable home in the Los Angeles area — a cold streak that threatens to mess up their anniversary plans.... Read More

US Jobless Claims Up to 744K as Virus Still Forces Layoffs

WASHINGTON (AP) — The number of Americans applying for unemployment benefits rose last week to 744,000, signaling that many employers... Read More

WASHINGTON (AP) — The number of Americans applying for unemployment benefits rose last week to 744,000, signaling that many employers are still cutting jobs even as more people are vaccinated against COVID-19, consumers gain confidence and the government distributes aid... Read More

2021-04-07 18:40:09
by TWN Staff
U.S. Trade Deficit Hits Record High in February

WASHINGTON - The U.S. trade deficit surged to a record high in February as the nation’s economic activity rebounded more... Read More

WASHINGTON - The U.S. trade deficit surged to a record high in February as the nation’s economic activity rebounded more quickly than that of other nations carefully shake off the economic hardships associated with the coronavirus pandemic. The trade deficit... Read More

2021-03-30 20:11:23
by Daniel Mollenkamp
Global Economy to See Multi-Speed Recovery

The pandemic has caused profound and long-lasting changes to the global economy. However, the world also has a narrow window... Read More

The pandemic has caused profound and long-lasting changes to the global economy. However, the world also has a narrow window to avoid throwing lots of people into more uncertainty, insecurity, and poverty, said an executive from the International Monetary Fund... Read More

2021-03-24 13:07:39
by Daniel Mollenkamp
COVID-19 Sniffing Dogs Are Here To Stay, But Will They Make A Difference?

ATLANTA - On Sunday, NASCAR joined the list of places using coronavirus-sniffing dogs as a tool to battle the virus's... Read More

ATLANTA - On Sunday, NASCAR joined the list of places using coronavirus-sniffing dogs as a tool to battle the virus's spread. The dogs can be taught to speedily screen large, busy crowds. This, together with the low cost involved in... Read More

Supply Bottlenecks Leave Ships Stranded, Businesses Stymied

NEW YORK (AP) — A trade bottleneck born of the COVID-19 outbreak has U.S. businesses anxiously awaiting goods from Asia... Read More

NEW YORK (AP) — A trade bottleneck born of the COVID-19 outbreak has U.S. businesses anxiously awaiting goods from Asia — while off the coast of California, dozens of container ships sit anchored, unable to unload their cargo.  The pandemic... Read More

2021-03-19 20:14:26
by Sara Wilkerson
Chicago Expanding Outdoor Dining and Creative Spaces

CHICAGO – The City of Chicago announced a new initiative called Chicago Alfresco, which seeks to not only expand the... Read More

CHICAGO – The City of Chicago announced a new initiative called Chicago Alfresco, which seeks to not only expand the city’s outdoor dining program but also allow businesses and non-profit organizations to design creative long-term outdoor spaces. The initiative is... Read More

2021-03-18 20:55:55
by Victoria Turner
Essential Workers Deserve More Than Praise

Lisa Harris has not physically seen her family since the beginning of the pandemic just to keep them safe from... Read More

Lisa Harris has not physically seen her family since the beginning of the pandemic just to keep them safe from her. She is one of the 50 million essential workers fearing the virus every day, yet still going into work... Read More

2021-03-17 20:05:07
by Tom Ramstack
Infrastructure Investment Steers U.S. Out of Recession

WASHINGTON -- Congress sent clear signals this week that clean energy technology and the infrastructure to support it will provide... Read More

WASHINGTON -- Congress sent clear signals this week that clean energy technology and the infrastructure to support it will provide a path to help the nation’s economy recover from the COVID-19 pandemic. In two hearings, economists and lawmakers bemoaned the... Read More

In Pennsylvania, Biden Showcases Aid to Small Businesses

CHESTER, Pa. (AP) — President Joe Biden turned up at a minority-owned flooring business in suburban Philadelphia to highlight how... Read More

CHESTER, Pa. (AP) — President Joe Biden turned up at a minority-owned flooring business in suburban Philadelphia to highlight how his $1.9 trillion coronavirus relief package can help small businesses and to put a face on those who have struggled... Read More

2021-03-16 21:44:23
by Victoria Turner
Biden Administration's Antitrust: Traditional or Transformational?

The Biden administration has talked a big game on beefing up enforcement in market competition and it will undoubtedly bring... Read More

The Biden administration has talked a big game on beefing up enforcement in market competition and it will undoubtedly bring more competition cases to court, said Bill Kovacic, a former regulator at the Federal Trade Commission.  The new leadership, however,... Read More

2021-03-16 21:41:21
by Reece Nations
‘K-Shaped’ COVID-19 Recovery Deepens Economic Disparity

While the onset of the novel coronavirus pandemic has had drastic ramifications for the United States’ economy, its toll has... Read More

While the onset of the novel coronavirus pandemic has had drastic ramifications for the United States’ economy, its toll has been unevenly harsh for the country’s poorest citizens.  Following a recession, a “K-shaped recovery” occurs when different segments of the... Read More

Biden, Harris and Others to Promote Relief Plan's Benefits

WASHINGTON (AP) — Let the sales push begin. President Joe Biden, Vice President Kamala Harris and their spouses are opening... Read More

WASHINGTON (AP) — Let the sales push begin. President Joe Biden, Vice President Kamala Harris and their spouses are opening an ambitious, cross-country tour this week to highlight the benefits of his $1.9 trillion plan to defeat the coronavirus and... Read More

2021-03-12 18:36:02
by TWN Staff
Weddings, Catered Events to Resume In New York State

With COVID-19 infection rates and hospitalizations continuing their downward spiral, New York State will begin allowing weddings and catered events... Read More

With COVID-19 infection rates and hospitalizations continuing their downward spiral, New York State will begin allowing weddings and catered events to take place starting March 15, subject to strict health and safety protocols. "From day one, we have said that... Read More

2021-03-12 14:21:28
by Sara Wilkerson
Child Care Relief in COVID Bill Nets Praise

The National Association for the Education of Young Children announced its support of the passage of the American Rescue Plan,... Read More

The National Association for the Education of Young Children announced its support of the passage of the American Rescue Plan, which includes $39 billion in child care relief.  The legislative relief will address the needs of parents, educators and child... Read More

Biden Aims for Quicker Shots, 'Independence From This Virus'

WASHINGTON (AP) — One year after the nation was brought to a near-standstill by the coronavirus, President Joe Biden pledged... Read More

WASHINGTON (AP) — One year after the nation was brought to a near-standstill by the coronavirus, President Joe Biden pledged in his first prime-time address to make all adults eligible for vaccines by May 1 and raised the possibility of... Read More

2021-03-11 20:05:46
by TWN Staff
Biden Signs $1.9 Trillion Relief Bill into Law

WASHINGTON - President Biden on Thursday signed his $1.9 trillion coronavirus rescue package into law, marking a significant legislative accomplishment... Read More

WASHINGTON - President Biden on Thursday signed his $1.9 trillion coronavirus rescue package into law, marking a significant legislative accomplishment for the new president as he looks to shepherd the country through the pandemic.  Biden, who signed the bill alongside... Read More

Biden’s Speech Goals: Mourn Loss, Urge Caution, Offer Hope

WASHINGTON (AP) — Marking a year of loss and disruption, President Joe Biden will use his first prime-time address since... Read More

WASHINGTON (AP) — Marking a year of loss and disruption, President Joe Biden will use his first prime-time address since taking office to steer the nation toward a hungered-for sentiment — hope — in the "next phase" of the fight... Read More

From Job Cuts to Online Commerce, Virus Reshaped US Economy

WASHINGTON (AP) — At first, it was expected to be brief. At least that was the hope.  Instead, a once-in-a-century... Read More

WASHINGTON (AP) — At first, it was expected to be brief. At least that was the hope.  Instead, a once-in-a-century pandemic has ground on for a year, throwing millions out of work and upending wide swathes of the American economy.... Read More

2021-03-10 20:49:02
by Dan McCue
House Passes $1.9 Trillion COVID Relief Package

WASHINGTON - The House voted 220-211 on Wednesday to approve the Senate's revised version of President Biden's $1.9 trillion coronavirus... Read More

WASHINGTON - The House voted 220-211 on Wednesday to approve the Senate's revised version of President Biden's $1.9 trillion coronavirus relief package, sending the bill to the president's desk to be signed. The passage of Biden's "American Rescue Plan" is... Read More

2021-03-10 14:23:38
by Kate Michael
Yellen Encourages ‘The Age of Womenomics’

WASHINGTON —Treasury Secretary Janet Yellen grew up surrounded by hardships endured during the Great Depression. Her father’s medical practice was... Read More

WASHINGTON —Treasury Secretary Janet Yellen grew up surrounded by hardships endured during the Great Depression. Her father’s medical practice was located inside the family home, so she not only heard stories from the patients but also saw firsthand the result... Read More

Biden's Big Relief Package a Bet Gov't Can Help Cure America

WASHINGTON (AP) — President Joe Biden wants America to know that he's from the government and he's here to help.... Read More

WASHINGTON (AP) — President Joe Biden wants America to know that he's from the government and he's here to help. That sentiment became a well-worn punchline under Ronald Reagan and shaped the politics of both parties for four decades. Democrat... Read More

Child Tax Credit Expansion Sets Up Showdown With GOP

WASHINGTON (AP) — The massive coronavirus relief plan making its way to President Joe Biden's desk includes a plan to... Read More

WASHINGTON (AP) — The massive coronavirus relief plan making its way to President Joe Biden's desk includes a plan to temporarily raise the child tax credit that could end up permanently changing the way the country deals with child poverty.... Read More

2021-03-05 15:25:44
by TWN Staff
Once COVID is Slain, Sustainable Budgets Must Be Priority

WASHINGTON - A Congressional Budget Office report estimating that persistent budget deficits will cause the federal debt to double in... Read More

WASHINGTON - A Congressional Budget Office report estimating that persistent budget deficits will cause the federal debt to double in size over the next 30 years, "provides a troubling snapshot of America’s fiscal outlook, which we know will only get... Read More

Senate Nears Relief Bill Votes After Half-Day GOP Delay

WASHINGTON (AP) — The Senate steered on Friday toward a voting marathon on Democrats' $1.9 trillion COVID-19 relief bill after... Read More

WASHINGTON (AP) — The Senate steered on Friday toward a voting marathon on Democrats' $1.9 trillion COVID-19 relief bill after enduring an extraordinary half-day holdup forced by a Republican foe of President Joe Biden's top legislative priority. The chamber planned... Read More

2021-03-04 20:54:19
by Dan McCue
Face Masks Are Piling Up In Warehouses, Indy Makers Say

AUSTIN, Texas – It was a dire situation that Lloyd Armbrust can almost laugh about now.  A global pandemic had... Read More

AUSTIN, Texas – It was a dire situation that Lloyd Armbrust can almost laugh about now.  A global pandemic had swept across the United States, a baby was on the way, and Armbrust, hard as he tried, could not find... Read More

Dems Tighten Relief Benefits, Firm Up Support for Virus Bill

WASHINGTON (AP) — President Joe Biden and Democrats agreed to tighten eligibility limits for stimulus checks, bowing to party moderates... Read More

WASHINGTON (AP) — President Joe Biden and Democrats agreed to tighten eligibility limits for stimulus checks, bowing to party moderates as leaders prepared to move their $1.9 trillion COVID-19 relief bill through the Senate. At the same time, the White... Read More

2021-03-03 14:57:17
by Tom Ramstack
Airlines Say They Will Fail Without More Federal Aid

WASHINGTON -- Airline industry officials made a plea Tuesday for additional federal assistance to help their deeply wounded businesses recover... Read More

WASHINGTON -- Airline industry officials made a plea Tuesday for additional federal assistance to help their deeply wounded businesses recover from the COVID-19 pandemic. They asked a congressional committee for another round of Payroll Support Program funds, not only to... Read More

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