Biden Doubling Down On Tax-The-Rich Budget Strategy

The Federal Reserve signaled Wednesday that it may start raising its benchmark interest rate sometime next year, earlier than it envisioned three months ago and a sign that it’s concerned that high inflation pressures may persist.

2021 SEP 21– By a News Reporter-Staff News Editor at Education Daily Report– Republicans who buy individual health plans may be less likely to shop through marketplaces created under the federal Affordable Care Act, leading to them to forgo subsidies provided by the federal government, according to a new study. Examining the behavior of enrollees of a large…

If Congress passes the vast reconciliation bill, voters will like what’s in it. That’s the Obamacare-like line some Democrats are taking as President Joe Biden steps up his campaign to pull the sprawling spending package across the finish line.

The Centers for Medicare & Medicaid Services announced that, beginning this year, consumers will have an extra 30 days to…

The U.S. Census Bureau issued the following news release on Sept. 14, 2021:. The U.S. Census Bureau announced today that median household income in 2020 decreased 2.9% between 2019 and 2020, and the official poverty rate increased 1.0 percentage point. Median household income was ,521 in 2020, a decrease of 2.9% from the 2019 median of ,560.

That's according to a new report from University of Wisconsin-Madison. The report from COWS, formerly the Center on Wisconsin Strategy, indicates Wisconsin still has 114,000 fewer jobs available as of July than it did before the onset of COVID-19. Laura Dresser, the associate director of COWS, said the problems in Wisconsin's job market came about well before…

In March 2021, the Department of the Treasury published the 2020 Financial Report of the United States Government. In the initial message, Secretary Janet L. Yellen writes:“ This Financial Report discusses not only current financial results but also important, long-term trends affecting our critical social insurance programs and fiscal health.” The report not…

WASHINGTON- With more than 1 million customers in Louisiana and Mississippi having lost power, Hurricane Ida is sure to take a toll on the energy, chemical and shipping industries that have major hubs along the Gulf Coast. But the impact on the overall U.S. economy will likely be modest so long as damage estimates don't rise sharply and refinery shutdowns are not…

Castle Brook Academy, one of the longest-running preschools in St. Augustine, has a capacity for 225 students. Today, there are nearly 250,000 fewer people in Florida's labor pool- the total of those employed and those looking for work- than there were when the pandemic struck in March 2020, according to the U.S. Bureau of Labor Statistics. While the construction…

You can find the hiring signs everywhere. The current jobs opening rate is at its highest in more than 20 years, but there are still seven million fewer people employed now than before the pandemic, Tom Barkin, president and CEO of the Federal Reserve Bank of Richmond, told members of the North Carolina Economic Development Association on Wednesday.

Republican campaign officials are licking their chops over Democrats voting for the package next week, which they say exposes vulnerable incumbents to charges of backing socialist policies and runaway spending that fuels inflation. Democrats also want to include a path to citizenship for undocumented immigrants, including Dreamers who were brought…

—Prices for U.S. consumers rose last month but at the slowest pace since February, a sign that Americans may gain some relief after four months of sharp increases that have imposed a financial burden on the nation's households. Wednesday’ s report from the Labor Department showed that consumer prices jumped 0.5% from June to July, down from the previous monthly…

Last week's monthly jobs report demonstrated the ongoing strength of the U.S. economy and underscored the need for the Federal Reserve to rein in its stimulus efforts, a Fed official said Tuesday. St. Louis Federal Reserve Bank President James Bullard said that Friday's report, which showed a healthy gain of 943,000 jobs last month, means the economy is making…

Senate Majority Leader Chuck Schumer said Monday evening that Democrats and Republicans had reached a deal on the bill, and the Senate passed the bill with a 69-30 vote just before noon. Some Republicans, meanwhile, have criticized the size, focus and funding of the package, citing a Congressional Budget Office report that said it would add $256 billion to…

Aug. 7— WASHINGTON— A trillion dollars goes a long way, and the trillion that a bipartisan group of senators wants to spend rebuilding America would rebuild parts of Buffalo in unexpected ways. An unprecedented sum of money could be spent cleaning up the Great Lakes and protecting their shorelines. Brian Higgins, a Buffalo Democrat, wanted in terms of investment in…

The U.S. economy added nearly 950,000 jobs during the month of July, the Labor Department said Friday in its monthly report– soundly beating expectations on Wall Street. The department said 943,000 positions were added for the month, and the national unemployment rate declined by a half-point to 5.4%. “These measures are down considerably from their highs at the…

Chairman Jerome Powell appears bent on risking 1970 s-style inflation to win favor with President Biden and a second term. Like the two World Wars, COVID-19 has radically changed the American economy. As offices reopen, New York and other cities face a crisis.

The move will let the Treasury pay bills incurred by the government without creating new debt for up to three months. Traditionally, the limit keeps the Treasury issuing new bonds to fund the government once a certain limit, which was $22 trillion in 2019, is hit. “The CBO projects that if the debt limit is not raised, the Treasury would probably run out of cash and be…

—Fueled by vaccinations and government aid, the U.S. economy grew at a solid 6.5% annual rate last quarter in another sign that the nation has achieved a sustained recovery from the pandemic recession. Thursday’ s report from the Commerce Department estimated that the nation’ s gross domestic product— its total output of goods and services— accelerated in the…

*William Valdez, Nominee for Under Secretary for Management, Department of Homeland Security. *Mark Gitenstein, Nominee for Representative of the United States of America to the European Union, with rank and status of Ambassador Extraordinary and Plenipotentiary. *Laura S. H. Holgate, Nominee for Representative of the United States of America to the Vienna…

—President Joe Biden will be trying to connect with blue-collar workers Wednesday when he travels to a truck factory in Pennsylvania to advocate for government investments and clean energy as ways to strengthen U.S. manufacturing. The Democrat will tour the Lehigh Valley operations facility for Mack Trucks, a chance to touch base with the plant's 2,500…

Still, all sides— the White House, Republicans and Democrats— sounded upbeat that an accord was within reach as senators braced for a possible weekend session to finish the deal. It's a make-or-break moment that is testing the White House and Congress, and the outcome will set the stage for the next debate over Biden's much more ambitious $3.5 trillion spending…

—President Joe Biden marked six months in office on Tuesday with a crowded Cabinet meeting, a gathering meant to symbolize both a return to normalcy due to vaccines and a display of the federal government doing the people’ s business. The Cabinet members were packed tightly around a table for their first full meeting in the Cabinet room, with a group of journalists…

At the start of July, Politico reported that Federal Reserve Chairman Jerome Powell would probably be reappointed. Major news outlets are reporting that President Joe Biden is considering whether to install a new chairman when Powell's current term expires in February, and might even be leaning in that direction. It's understandable that Biden would want…

WASHINGTON- Talkers both, Joe Biden and Bernie Sanders stayed for an hour in the Oval Office, just two former rivals for the White House now acting as potential partners, negotiating a compromise both could live with. The president gave his full backing, according to a senior White House aide and another person familiar with the private session, who spoke on…

—President Joe Biden made a quick foray to the U.S. Capitol hunting support for his multitrillion-dollar agenda of infrastructure, health care and other programs, a potential landmark achievement that would require near-unanimous backing from fractious Democrats. The president spent just under an hour at a closed-door lunch with Democratic senators in…

Pressure on Supreme Court Justice Stephen Breyer to step down will likely grow now that the court's session has ended. His retirement would allow President Joe Biden to nominate his successor and give Democrats another liberal justice, if confirmed. Supreme Court justices in the U.S. enjoy life tenure.

—In the past week alone, Nikki Haley regaled activists in Iowa, Mike Pence courted donors in California and Donald Trump returned to the rally stage, teasing a third campaign for the White House. But Republicans eyeing a White House run are wasting no time in jockeying for a strong position in what could emerge as an extremely crowded field of contenders.

WASHINGTON, June 5– The Competitive Enterprise Institute, a non-profit public policy organization, issued the following news release:. The Biden Administration's Labor Department reported today that the United States added 559,000 jobs in May and the unemployment rate dropped to 5.8%. “The Labor Department's report Friday makes clear that rolling back the…

The White House billed the private meeting as more of a conversation with West Virginia GOP Sen. More than anything, the session in the Oval Office was seen through the political lens of the president and Republicans trying to show the public what Americans say they want- a willingness to work together, even if no deal is within reach. Biden and Capito had a “…

About a year has passed since the economy started to recover from the coronavirus recession, and the rebound so far is solid if not uniformly positive. When the COVID-19 pandemic arrived and forced business lockdown measures, it precipitated a steep economic slide starting around February 2020. But activity began to recover quickly, with growth resuming in…

Even a seemingly bipartisan effort to investigate the Jan. 6 insurrection at the Capitol faces the blockade of Republican opposition in Congress. Rounding the first quarter of his presidency, the White House and Congress have been unable to meet key Memorial Day deadlines set by the administration on crucial priorities. The sweeping infrastructure…

Invest in America, a research group, and Data for Progress, a progressive think tank, surveyed more than 1,200 likely voters in mid-May, with 58% of those polled supporting Biden’ s spending plans, even if Democrats must pass them without Republican support. A majority of voters surveyed, 51% to 32%, prefer Biden’ s plans over a Republican infrastructure proposal…

WASHINGTON – Sens. Chuck Grassley, R-Iowa, Maggie Hassan, D-N.H., and James Lankford R-Okla., introduced the Improving Access to Retirement Savings…

It is just a piece of the ongoing negotiation between the White House and congressional Republicans over the $2.25 trillion package of roadwork, social welfare programs and climate change policy that is being pushed by President Biden. “This is an approach that Congress has to return to because it works,” said Senate Finance Committee Chairman Ron Wyden, Oregon…

Their former employers are hiring again- and some, like Uber and McDonald's, are offering higher pay- but workers remain hesitant. In March, U.S. job openings rose 8 percent to a record 8.1 million, but overall hiring rose less than 4 percent, according to government data. Workers like Mullins are one reason U.S. hiring slowed in April.

In addition to seeing higher inflation in real prices, a separate report from the Federal Reserve Bank of New York found that consumers’ expectations for inflation were also at their highest levels in nearly a decade. The Fed survey indicated that Americans expect the inflation rate will be at 3.4 percent in a year, far higher than the long-term 2 percent rate…

The most recent IRS data indicates that the average federal income tax rate is just over 14%. It was a direct challenge to Trump, who claimed for several years that an audit prevented him from releasing his taxes— even though the IRS had mandated for more than four decades that the tax returns of a sitting president and vice president be audited.

—Luxury brands are already cashing in on promises of a 21st- century version of the“ Roaring' 20 s” in the United States, where hefty stimulus packages and an advanced vaccine campaign are accelerating post-pandemic recovery in high-end sales, according to a new study by Bain& Co. consultancy released on Monday. The rapidly rebounding U.S. economy together with…

And the share saying this was greatest among middle-income respondents, those making between $40,000 to $99,000 per year. Americans are forking over very little, according to calculations from Congress' nonpartisan Joint Committee on Taxation. Households earning less than $75,000, on average, will pay nothing in federal income taxes; those earning between…

Employers added a disappointing 266,000 jobs in April even as the number of new COVID-19 cases stayed low, more states lifted constraints and vaccinations accelerated. The gains fell well short of projections in a recovery that's expected to gather force through the summer, with a million or more jobs added each month. The unemployment rate rose from 6% to 6.1%…

—A top Federal Reserve official says the outlook for the U.S. economy is bright but the recent jobs report is a reminder that the path of the recovery is likely to be uneven and difficult to predict. The Fed has said it will not start raising interest rates until it has achieved maximum employment and annual prices gains that have not only hit the Fed's 2% target, but…

“People will come back to work if they’ re paid a decent wage,” Mr. Biden said in an address on the economy at the White House.“ My expectation is that, as our economy comes back, these companies will provide fair wages and safe work environments. The U.S. Chamber of Commerce blamed the $300- per-week federal jobless benefit for encouraging Americans to stay at home.

A short-lived Trump-era rule that made it easier for businesses like Uber and Lyft to classify workers as independent contractors officially ended Thursday after it was terminated by the Labor Department. “By withdrawing the Independent Contractor Rule, we will help preserve essential worker rights and stop the erosion of worker protections that would…

On March 11, 2021, US president Biden introduced his $1.9 trillion covid-19 stimulus plan. The president also announced a plan of more than $2 trillion to rebuild US infrastructure, which includes repairing roads and bridges, as well as expanding access to long-term care services under Medicaid, building schools, and expanding internet access across the US.

For the moment, Mr. Biden is riding high among Democrats because of his handling of the coronavirus pandemic and rapid moves to roll back former President Trump’ s policies. The real test, Mr. Munsey said, will be for Mr. Biden to appeal to“ the people in the middle” to fend off non-stop criticism from Republicans. The challenge facing Mr. Biden and Democrats in the…

—Less than three months after former President Donald Trump left the White House, the race to succeed him atop the Republican Party is already beginning. Ron DeSantis has been courting donors, including in Trump's backyard, with a prominent speaking slot before the former president at a GOP fundraising retreat dinner this month at Mar-a-Lago, the Florida…