- Business Insider 00:38June 25, 2021Democrats and Republicans want to fund infrastructure using federal unemployment benefits yanked from workersAround 4 million Americans are set to lose their federal unemployment benefits early. The funds they won't get could pay for a bipartisan bill.
< Economy, Markets, Politics, Economy, Infrastructure, infrastructure spending, Unemployment, Unemployment aid, Unemployment benefits, Stimulus, Coronavirus relief, pua, PEUC, federal unemployment, Policy >
- Business Insider 22:55June 24, 2021Biden whispers the quiet part out loud on the labor shortage: 'Pay them more!'Speaking in his now characteristic whisper-shout, Biden said overwhelming demand for workers is "employees' bargaining chip" as they seek out jobs.
< Economy, Markets, Politics, Economy, President Joe Biden, Joe Biden, labor shortage, Biden economic plan, Labor Market, US Labor Market, worker shortage, Economic Recovery, Inflation, Policy >
- Business Insider 22:46June 24, 2021Biden ditches a corporate tax rate increase in his bipartisan infrastructure deal - for nowEarlier today, President Joe Biden said "we have a deal" on infrastructure. It doesn't include hiking corporate taxes, but the IRS could get bigger.
< Economy, Markets, Politics, Economy, Taxes, tax increase, Corporate Tax, Corporate Tax Rate, corporate tax reform, Infrastructure, infrastructure spending, Policy >
- Breitbart News 22:38June 24, 2021Pelosi Suggests She Will Blow Up Infrastructure Deal if Radical Demands Are Not MetHouse Speaker Nancy Pelosi (D-CA) on Thursday suggested she will blow up the bipartisan infrastructure bill if the Senate does not also pass a reconciliation bill.
< Economy, Politics, Filibuster, infrastructure, infrastructure package, Nancy Pelosi >
- Business Insider 22:28June 24, 2021Biden's bipartisan infrastructure deal is more than $1 trillion smaller than his initial pitch. Here's what he cut out.Biden reached a deal with a group of 10 bipartisan senators on infrastructure. Elements from his original plan, like eldercare, are missing.
< Economy, Politics, Markets, Policy, Economy, Politics, Infrastructure, American Jobs Plan, Biden, Bipartisan, Ron Wyden, Bernie Sanders, Joe Manchin, Joe Biden, Reconciliation >
- Breitbart News 22:26June 24, 2021Manchin: Not Fair to Hold Bipartisan Deal 'Hostage' for Reconciliation Bill, I Haven't Signed Up to Vote for Reconciliation BillWhile speaking with CNN on Thursday, Sen. Joe Manchin (D-WV) said that holding the bipartisan infrastructure agreement “hostage” for a broader reconciliation package “doesn’t seem to be fair to me,” and that “you vote for this and I’ll vote for
< Clips, Economy, Politics, budget reconciliation, infrastructure, Joe Manchin, reconciliation >
- Breitbart News 22:15June 24, 2021AOC Rips Biden Infrastructure Deal: All-White Bipartisan Negotiators Benefit ‘Structural Racism'Rep. Alexandria Ocasio-Cortez (D-NY) on Thursday slammed the all-white bipartisan Senate infrastructure group's lack of diversity after President Joe Biden announced his support for the group's nearly $1 trillion proposal.
< Economy, Politics, Social Justice, Alexandria Ocasio-Cortez, infrastructure >
- Business Insider 22:10June 24, 2021Joe Manchin balks at backing $6 trillion in infrastructure spending sought by Bernie Sanders, Senate Democrats"I have a hard time swallowing that," Manchin told reporters Thursday, leaving the pathway for Biden's major spending initiatives unclear.
< Politics, News, Economy, Joe Manchin, Joe Biden, Bernie Sanders, Infrastructure, Spending, Reconciliation, Budget, Senate, Republicans, Democrats, Child tax credit, CTC >
- Business Insider 21:56June 24, 2021A new USPS plan could add two days to delivery times for some Americans. Here are the states that could be hit hardest by mail delays.The new policies would heavily impact western states, as well as parts of Texas and Florida, according to The Washington Post's analysis.
< Economy, Politics, News, USPS, Delivery Complaints, Amazon Prime, UPS >
- Business Insider 21:53June 24, 2021Progressives will only support the $1 trillion bipartisan infrastructure deal if it comes with a bigger reconciliation bill"There ain't no infrastructure bill without the reconciliation bill," Nancy Pelosi said. Weeks ago, Sen. Bernie Sanders prepared a $6 trillion one.
< Economy, Politics, Markets, Policy, Economy, Politics, Infrastructure, Nancy Pelosi, Reconciliation, Ron Wyden, Joe Manchin, Climate, Bernie Sanders, Chuck Schumer >
- Business Insider 21:07June 24, 2021Bonuses are on the rise: Job postings with incentives doubled in the past year, major jobs site Indeed saysOnly 4.1% of Indeed posts had bonuses in July, up from 1.8% in July 2020. Much of the increase occurred since the labor shortage intensified.
< Economy, Markets, Economy, Indeed, Indeed.com, labor shortage, signing bonus, hiring incentives, Labor Market, US Labor Market, worker shortage, Hiring, Labor market data >
- Business Insider 20:54June 24, 2021Clothing sales are spiking even higher than 2019 levels - in part because roughly a quarter of consumers are a new size post-quarantineIt's more than just a long-dormant desire to look good that's fueling the surge in clothes shopping.
< Retail, Retail, Clothing, Shopping, hot vax summer, pandemic economy >
- Business Insider 19:49June 24, 2021Biden throws support behind $1 trillion infrastructure deal with GOP as Democrats press for separate party-line packageThe $1 trillion deal encompasses spending on hard infrastructure such as roads and bridges. Democrats are pushing a bigger party-line package.
< Economy, Politics, Markets, Policy, Joe Biden, Infrastructure, Joe Manchin, Kyrsten Sinema, Economy, Nancy Pelosi >
- Business Insider 19:38June 24, 2021Your bank or grocery store might be out of coins, but the Fed says there's not actually a shortage - people just aren't using themThe US Coin Task Force discovered that of the roughly $48.5 billion of metal currency in circulation, much is "sitting dormant" in households.
< Retail, Economy, News, Cash, Coins, Currency, Shortages, supplies, Mint, Federal Reserve >
- Business Insider 19:26June 24, 2021Kevin McCarthy mistakenly attributes a 19-year-old's poster promoting the child tax credit to the IRSThe House Minority Leader blamed the IRS for wasting taxpayer dollars but he was citing a poster made by a college student passionate about politics.
< Economy, Politics, Markets, Policy, Economy, Politics, Kevin McCarthy, IRS, Child tax credit, Don Beyer, Michael Bennet, Biden, Stimulus >
- Business Insider 19:10June 24, 2021The US housing boom helped rich homeowners the mostSales of homes worth over $1 million rose 245% in the last year but sales of less expensive homes fell, cutting many owners off from the market rally.
< Economy, Markets, Real Estate, Economy, Housing Market, Home Prices, k-shaped recovery, Economic inequality, US housing boom, US Housing Crisis, us housing market, Home sales, Existing Home Sales, National Association Of Realtors >
- Business Insider 18:28June 24, 2021Major unions ACLU and SEIU join 126 organizations in calling on Biden to extend the freeze on student-loan paymentsThe pause on student-loan payments during the pandemic is expiring in September. Organizations and lawmakers worry payments are restarting too soon.
< Economy, Politics, Markets, Policy, Economy, Politics, Student Debt, Student Loans, student loan forgiveness, Biden, ACLU, SEIU, Miguel Cardona, Elizabeth Warren, Chuck Schumer >
- Business Insider 17:57June 24, 202125 GOP-led states and one Democratic state are cutting $300 weekly federal unemployment benefits. Here are the 26 states making the cut this summer.More and more Republican-governed states are ending Biden-stimulus jobless aid months before they legally expire in September. Many run out in June.
< Economy, Politics, Markets, Policy, Republicans, Democrats, enhanced unemployment insurance, Unemployment benefits, Biden stimulus, Joe Biden, Economy, Jobs, Back to work bonus, Hiring bonus, Employment, Tennessee, Montana, South Carolina, Mississippi, Arkansas, Alabama, Missouri, Doug Burgum, Asa Hutchinson, Henry McMaster, Tate Reeves, Mike Parson, Greg Gianforte, Kim Reynolds, kay ivey, Idaho, Wyoming, Spencer Cox, Utah, South Dakota, Kristi Noem, brian kemp, Georgia, Ohio, Arizona, Doug Ducey, Mike DeWine, New Hampshire, Chris Sununu, West Virginia, Jim Justice, Alaska, Mike Dunleavy, Greg Abbott, Texas, Kevin Stitt, Oklahoma, Indiana, eric holcomb, Ron DeSantis, Florida, Pete Ricketts, Nebraska, Louisiana, John Bel Edwards >
- Business Insider 17:54June 24, 2021Schumer and Pelosi say they're still barreling ahead without the GOP on a multitrillion-dollar social spending package in JulyDemocrats and the GOP are on the verge of striking a $1 trillion infrastructure deal. But top Democrats say they're moving ahead with a separate plan.
< Economy, Politics, Markets, Policy, Republicans, Democrats, Joe Biden, Chuck Schumer, Nancy Pelosi, Infrastructure, Stimulus, Economy >
- Business Insider 17:42June 24, 2021Meet the Cathys, heirs to the Chick-fil-A empire, who have a fortune of more than $14 billion and are one of America's wealthiest family 'dynasties'The Cathy family is the reason the world has Chick-fil-A. See how they've grown the fast-food chain - and their $14.2 billion fortune.
< Retail, Economy, Features, Chick-fil-A, Generational Wealth, Cathy Family, Fast Food, BI Graphics, Arts & Culture, BI Select, Visual Slideshow >
- Business Insider 16:43June 24, 2021Republicans seem determined to learn absolutely nothing from our bizarre post-pandemic economyThis weird features of the pandemic recovery could teach us a lot about growth, inflation, and inequality - but the GOP doesn't want to hear it.
< Opinion, Economy, Politics, Markets, Economy, Federal Reserve, Wages, Inflation, GOP, Labor Market, Steve Scalise, Congress, BI Commentary, columnist, Opinion >
- Business Insider 15:40June 24, 2021US weekly jobless claims resume downward trend, falling slightly to 411,000Continuing claims, which track Americans receiving unemployment benefits, sank to 3.39 million for the week that ended June 12.
< Economy, Markets, Economy, Economic Data, Economic Indicators, Initial Claims, Jobless Claims, US weekly jobless claims, weekly jobless claims, Unemployment benefits, unemployment filings, US jobless claims, Labor Market, Labor market data, BI Graphics, Andy Kiersz >
- Business Insider 14:30June 24, 2021The price of air con has shot up by 15% and companies are taking longer to install units thanks to a lack of staff and a shortage of components, according to a reportThe air-conditioning industry faces soaring demand, but a shortage of both key components and staff to install units.
< Economy, Retail, News, News, Air Conditioning, HVAC, Supply Shortage, labor shortage, Inflation, heatwave, Texas >
- Business Insider 14:27June 24, 2021The Bank of England says it expects inflation to surge above 3%, but keeps its $1.25 trillion bond-buying target for nowThe Bank of England said it still believes sharp price rises will be transitory.
< Markets, MI Exclusive, Bank of England, Interest Rates, bond buying, Inflation, Monetary Policy, UK Economy, Federal Reserve, Andy Haldane, Pound, Economy >
- Business Insider 04:42June 24, 2021Bipartisan group of senators reach deal for 'framework' of infrastructure package, to meet with Biden tomorrowSenators leaving the meeting indicated that they reportedly agreed on how the spending would be financed.
< Politics, Economy, infrastructure bill >
- Business Insider 00:26June 24, 2021Treasury Secretary Janet Yellen warns of 'absolutely catastrophic' hit to economic recovery this summer if US can't pay its bills on timeIf the federal government can't pay back its debtors in time by raising the debt ceiling, it could put Americans' jobs and savings in jeopardy
< Economy, Politics, Economy, Economy & Markets, Politics, US Treasury, Bonds, us treasury bonds, Janet Yellen, Federal Debt, Debt Ceiling >
- Breitbart News 23:40June 23, 2021Report: John McAfee Found Dead in Spanish Prison CellAntivirus software pioneer John McAfee, who sought the Libertarian Party nomination for President in 2016 and 2020, has been found dead in a prison cell in Spain, according to reports. The tech tycoon previously claimed that "if I suicide myself, I didn't. I was whackd."
< Economy, Politics, Tech, DOJ, John McAfee, Silicon Valley, Spain >
- Business Insider 22:49June 23, 2021Job searches are down in states cutting federal unemployment benefits early, not what you'd expect to see from a 'disincentive to work'Jobs site Indeed found that job searches aren't spiking, even though half of all US states have ended Biden's stimulus unemployment benefits early.
< Economy, Politics, Markets, Policy, Economy, Politics, Unemployment, Unemployment benefits, Jobs, Indeed, Stimulus, Biden, Bernie Sanders, jen psaki >
- Business Insider 21:29June 23, 2021Companies including Amazon, Chipotle, and McDonald's are raising wages. It's likely a one-off boost, Oxford Economics says.The labor shortage put more power in workers' hands as businesses scrambled to rehire, but the boost is likely temporary, economist Gregory Daco said.
< Economy, Markets, Retail, Economy, Inflation, Wage Growth, wage hike, Wages, Pay Growth, Gregory Daco, Oxford Economics, inflation outlook, economic outlook >
- Breitbart News 21:18June 23, 2021GOP's Populist Caucus to Join Donald Trump on Border June 30The populist Republican Study Committee will be joining former President Donald Trump when he visits the border June 30.
< Economy, Immigration, Politics, Donald Trump, Jim Banks, Republican Study Committee, Ronna McDaniel, Ronna Romney McDaniel, Supply and demand, wages >
- Business Insider 20:38June 23, 2021Joe Manchin appears close to making up his mind. Here's what he wants in an infrastructure plan.The influential moderate Democrat wants to roll back Trump's "unfair" tax cuts and he supports completely paying for a multitrillion-dollar package.
< Economy, Politics, Markets, Policy, Joe Manchin, Democrats, infrastructure bill, Biden infrastructure plan, Child tax credit 2021, Taxes, Donald Trump, Trump tax cuts, Economy, Reconciliation >
- Business Insider 20:01June 23, 2021Elizabeth Warren and Chuck Schumer are leading an effort to give student-loan borrowers another 6 months of reliefStudent-loan borrowers will have to start paying again in October, and Democrats warn that "could create a significant drag on our economic recovery."
< Economy, Politics, Markets, Policy, Economy, Politics, Student Debt, Elizabeth Warren, Chuck Schumer, Ayanna Pressley, Student debt forgiveness, Miguel Cardona, Education Department >
- Business Insider 19:49June 23, 2021How the American consumer may be saving the economy by spending less - and keeping inflation at bayAmericans are - smartly - balking at the soaring prices of used cars and homes. This shift could be what keeps the US from an inflationary crisis.
< Economy, Markets, Economy, Inflation, durable goods, Consumer spending, Inflation Expectations, inflation fears, inflation gauge, inflation outlook, price growth, used car prices, Home Prices, Ethan Harris, analysis >
- Business Insider 19:35June 23, 2021El Salvador's leader hopes bitcoin can lift the country out of the Third World, and it doesn't need the World Bank's help, he said in an interview. Here are his 9 best quotes.Nayib Bukele spoke about exercising the sovereign right to adopt legal tender without the World Bank's help.
< Markets, Economy, MI Exclusive, Markets, El Salvador, Bitcoin, El Salvador bitcoin, Cryptocurrencies, Interview, Podcast >
- Business Insider 18:31June 23, 2021The US will still have most of the world's ultra-wealthy people - but only through 2025, report findsThe Boston Consulting Group found the number of ultra-high-net-worth individuals in the US will increase 36% in 2025 compared to last year.
< Economy, Markets, Politics, Wealth, Taxes, India, China, UHNWI, Net Worth, Wealth Tax, Elizabeth Warren, Economy >
- Business Insider 17:42June 23, 2021Tech legend Marc Andreessen says the rise of remote work might be more important than the internet: 'A permanent civilizational shift'Remote work freed up opportunities, which could lead to shared prosperity. Marc Andreesen said it "may shatter the geographic lottery."
< Economy, Markets, Tech Insider, Economy, Remote Work, Marc Andreesen, Migration, Pandemic, Housing, Restaurants, San Francisco, New York, Tech Insider, Working From Home >
- Business Insider 16:31June 23, 2021I was a Division I college football player. The Supreme Court's NCAA ruling isn't just a huge moment for college athletes - it's a major warning to America's biggest businesses.Not only does the Supreme Court's ruling weaken the NCAA's stranglehold on college sports, it shows they're open to action against modern monopolies.
< Opinion, Sports, Politics, Economy, Markets, Policy, Economy, NCAA, Supreme Court, College Sports, Brett Kavanaugh, Antitrust, FTC, Department of Justice, Neil Gorsuch, BI Commentary, permalancer, Opinion >
- Business Insider 05:05June 23, 2021Joe Manchin opens the door to backing Democrat-only infrastructure bill that rolls back 'unfair' Trump tax cutsManchin's backing is pivotal and would allow a new spending bill can pass without any GOP votes. He wants to raise corporate taxes as well.
< Economy, Politics, Joe Manchin, Infrastructure, Filibuster, White House, Joe Biden, Republicans, Democrats, Universal Pre-K, Community College, Policy >
- Business Insider 00:03June 23, 2021Senate Republicans balk at bulking up IRS because they don't want to chase wealthy tax evaders"I am very skeptical that there's a lot of easy money to be had from so-called tax enforcement," Republican Sen. Pat Toomey told Insider.
< Economy, Politics, Markets, Republicans, Democrats, Infrastructure, IRS, Taxes, Pat Toomey, senate gop, Stimulus, Tax Evasion, ProPublica, Policy, Economy, Roger Wicker, Shelley Moore Capito >
- Business Insider 23:51June 22, 2021Elizabeth Warren is holding up the confirmation of a top Education Dept. nominee to push for better administration of student-loan servicersA source familiar with the matter told Insider that Sen. Warren is responsible for holding up James Kvaal's nomination for Under Secretary of Education.
< Economy, Politics, Markets, Policy, Economy, Elizabeth Warren, Department of Education, Secretary of Education >
- Business Insider 23:19June 22, 2021Mississippi paid out $118 million in improper unemployment claims, largely due to fraud and stolen identitiesA Mississippi audit found 5.5% of stimulus unemployment claims were incorrect or fraudulent in 2020, after the OIG found states failed to stop fraud.
< Economy, Politics, Markets, Policy, Economy, Politics, Unemployment insurance, Unemployment benefits, Unemployment, Mississippi, Fraud, CARES Act, Stimulus, Biden >
- Business Insider 22:50June 22, 2021Automation helped kill up to 70% of the US's middle-class jobs since 1980, study saysWages have barely budged since the 1970s while productivity has stagnated. A new NBER paper argues automation played a bigger part than we knew.
< Economy, Markets, Economy, automation, Productivity, Labor Market, labor shortage, NBER, National Bureau of Economic Research, Economists, economic outlook, economic research, Middle Class >
- Business Insider 20:41June 22, 2021Elizabeth Warren is part of a group warning that student-loan payments could get 'disastrous'Elizabeth Warren, Ed Markey, and Tina Smith stressed the "extraordinary financial hardship" if student-loan payments resume in October.
< Economy, Politics, Markets, Economy, Politics, Policy, Student Loans, Student Debt, Student debt forgiveness, Elizabeth Warren, Ed Markey, Tina Smith, Navient, Miguel Cardona, Education Department >
- Business Insider 18:59June 22, 2021If you're a low-income Californian, the state wants to pay off all of your back rentUsing a budget surplus and stimulus money, California is negotiating a rental relief program that would pay off back rent for low-income residents.
< Economy, Politics, Markets, Real Estate, Policy, Economy, Politics, California, Gavin Newsom, Rent, Stimulus, Budget, Eviction, eviction moratorium, CDC >
- Business Insider 18:44June 22, 20213 reasons inflation looks likely to slow in June after a temporary Spring surgeLumber, used cars, and metals all saw prices boom in the spring. Yet the rallies have reversed in June, a signal stronger inflation will be temporary.
< Economy, Markets, Economy, Inflation, Features, inflation gauge, inflation outlook, inflation fears, inflation risks, price growth, Lumber, used car prices, Used cars, Metal prices >
- Business Insider 18:18June 22, 2021Moderate Democrats in bipartisan gang lean towards IRS enforcement as a way to raise revenues for infrastructure: 'That's found money'Sen. John Hickenlooper of Colorado told Insider that extra money for the IRS was "a good possibility" as negotiations continue. He's not alone.
< Economy, Politics, Markets, Congress, Biden infrastructure plan, Republicans, Democrats, Taxes, IRS, Biden tax plan, senate gop, John Hickenlooper, Mark Warner, angus king, Policy, Economy, Gas Tax, gas tax increase >
- Business Insider 18:14June 22, 2021If you have student-loan debt, this federal agency just made it easier for you to get a mortgage. Here's how.HUD's Federal Housing Administration is removing barriers to homeownership for those with student debt, especially helping borrowers of color.
< Economy, Politics, Markets, Real Estate, Policy, Economy, Politics, Student Debt, Homeowner, HUD, FHA, Marcia Fudge, Student Loans, Homebuyer, Mortgage, Housing, Real Estate, Housing Market >
- Breitbart News 16:34June 22, 2021Nolte: Democrat-run California So Mismanaged Weed Business Requires $100 Million Bailout"The California Legislature on Monday approved a $100-million plan to bolster California’s legal marijuana industry," reports the far-left Los Angeles Times.
< Economy, Politics, bailout, California, John Nolte, Marijuana >
- Business Insider 15:55June 22, 2021Hotel workers keep switching jobs for 'minor salary bumps' during the US labor shortage, a hotel owner said. Some don't even show up for their first shift.Hotels are scrambling to recruit employees during the labor shortage, and staff are leaving to other chains for "minor salary bumps," one owner said.
< Retail, Economy, News, labor shortage, hotel, Jobs, Employment, Unemployment >
- Breitbart News 15:26June 22, 2021California to Use Federal Money to Pay All Back Rent 'on a Scale Never Seen Before'The State of California will use federal "COVID relief" money to pay all of the back rent owed to landlords by qualifying residents during the coronavirus pandemic -- plus electricity and water bills that may have gone unpaid.
< Economy, Local, Politics, California, coronavirus, COVID-19, Gavin Newsom, stimulus >