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Top GOP senator says it's 'an impossible sell' for Republicans to strike a deal on an infrastructure package that rolls back Trump tax cuts

Sen. Roger Wicker Tom Williams/Pool via AP Sen. Roger Wicker downplayed the odds of an infrastructure deal that included rolling back Trump's tax cuts. He called it 'an impossible sell' among Republicans on Monday. Wicker met with Biden to discuss his jobs plan along with other Republicans and Democrats. See more stories on Insider's business page. Sen. Roger Wicker of Kansas, the ranking Republican on the Senate Commerce Committee, downplayed the prospect of a bipartisan d...
Tags: Economy, Politics, Policy, Joe Biden, Roger Wicker, Congress, Republicans, Democrats, Infrastructure, Jobs, Taxes, Trump Tax Law, Trump tax cuts, Tax Cuts and Jobs Act, Stimulus, Mitch McConnell


A majority of CEOs say Biden's proposed corporate tax hike could undo the economic gains from Trump's cuts

Uncle Sam. Ben Sklar / Stringer/Getty Images Ben Sklar / Stringer/Getty Images A majority of US CEOs are saying Biden's corporate tax increase would negatively affect business. Wage growth, hiring, and research and development spending would slow as a result, the CEOs said. Biden proposed upping the corporate tax rate to 28% from 21%, but has since said he may compromise. See more stories on Insider's business page. American business leaders are warning a corporate tax rate hike ...
Tags: Economy, Politics, News, Trump, Biden, Biden tax plan, Corporate America, Taxes, Jeff Bezos, Amazon


100 top business leaders met to discuss halting donations to politicians who back 'restrictive' voting laws, including in Georgia

Kenneth Chenault. Mary Altaffer/AP Top business leaders met on Zoom this weekend to map out their response to new voting restrictions. The WSJ reported that CEOs were asked to sign a statement opposing restrictive voting legislation. The CEOs discussed halting donations to politicians supporting the bills and stopping investments in states that pass the laws, the Post reported. See more stories on Insider's business page. More than 100 CEOs and senior leaders on Saturday met on a Zoom ...
Tags: Politics, Economy, Chief executive officer, Business Leaders, Voting Rights, Kenneth Chenault, Kenneth Frazier, Corporations, Georgia voting laws


Corporate executives set to join effort to increase voter access in the wake of new voting laws: WSJ

Kenneth Chenault. Mary Altaffer/AP Top business leaders met on Zoom this weekend to map out their response to new voting restrictions. The WSJ reported that CEOs were asked to sign a statement opposing restrictive voting legislation. "This is a nonpartisan issue, this is a moral issue," Kenneth Chenault, former CEO and Chairman of American Express, told the Journal last month. See more stories on Insider's business page. Numerous chief executives and senior leaders met on a Zoom call t...
Tags: Politics, Economy, Chief executive officer, Business Leaders, Voting Rights, Kenneth Chenault, Kenneth Frazier, Corporations, Georgia voting laws


Fed Chair Jerome Powell says the greatest risk to the US economic rebound is another wave of the coronavirus

U.S. Federal Reserve Chairman Jerome Powell  speaks in Washington Reuters The US economy is about to start growing "much more quickly," Federal Reserve Chairman Jerome Powell told CBS. The biggest risk to the economic recovery is another surge in coronavirus cases, Powell said. He credited steady vaccinations, stimulus, and strong monetary policy for the rebounding economy. See more stories on Insider's business page. Federal Reserve Chairman Jerome Powell says the US economy is about ...
Tags: Economy, Politics, Labor, Jobs, Economic Activity, Pandemic, Federal Reserve, Coronaivrus Pandemic


New York's wealthiest residents are considering fleeing to Florida ahead of income-tax hikes in the state, according to a report

New York Governor Andrew Cuomo. AP Some businesses and executives are considering leaving New York to avoid tax hikes, CNBC reported. On Thursday, Cuomo unveiled proposals to hike up income taxes in the state. Miami's mayor said he'd already spoken to some of New York's biggest firms about moving to Florida. See more stories on Insider's business page. New York's mega-millionaires are set to start paying the nation's highest income-tax rates, and some are already co...
Tags: Elon Musk, Florida, Politics, New York, Texas, California, White House, New York City, US, Trends, Economy, Policy, Income Tax, Miami, Silicon Valley, Andrew Cuomo


Joe Manchin signals he could torpedo Democratic attempts to bypass Republicans multiple times in a year

In this Feb. 13, 2021, file photo Sen. Joe Manchin, D-W.Va., departs on Capitol Hill in Washington Alex Brandon/AP Manchin suggested he may thwart Democratic attempts to bypass Republicans in Congress more than once. "I simply do not believe budget reconciliation should replace regular order in the Senate," Manchin wrote in a Post op-ed. It comes as the White House weighs the path ahead for a massive infrastructure plan. See more stories on Insider's business page. Sen. Joe Manchin of ...
Tags: Politics, Congress, Washington Post, Washington, Senate, White House, West Virginia, Trends, Joe Biden, Economy, Infrastructure, Democrats, Gop, Capitol Hill, Biden, Donald Trump


Biden starts selling major corporate tax hikes while opening the door to a compromise with Republicans

President Joe Biden meets with Treasury Secretary Janet Yellen in the Oval Office at the White House in Washington, January 29, 2021. Kevin Lamarque/Reuters The Biden administration released a sales pitch for its proposed corporate tax hikes. They project raising $2.5 trillion over 15 years to finance the entire proposed infrastructure package. Biden said he is willing to hear ideas from the GOP on infrastructure, opening the door to possible compromise. See more stories on Insider's b...
Tags: Amazon, Politics, Congress, Washington, Senate, White House, US, Trends, Markets, Joe Biden, Economy, Cnn, Gop, Treasury, Janet Yellen, Jeff Bezos


As Nina Turner runs for Congress in Ohio's 11th Congressional District, her local roots take center stage

Former Ohio state Sen. Nina Turner. David McNew/Getty Images Nina Turner is running for Congress in Ohio's 11th Congressional District. Turner, a Cleveland native, represented parts of the district as a state senator. If elected to Congress, she would bring a distinct progressive voice to Congress. See more stories on Insider's business page. During the 2016 Democratic presidential primaries, former Ohio state Sen. Nina Turner emerged as one of the most passionate surrogates for In...
Tags: Politics, New York, Congress, Senate, West Virginia, Barack Obama, Trends, Joe Biden, Economy, Getty Images, Hillary Clinton, House, New Jersey, House Of Representatives, Medicare, Ohio


Should You Plan for $50,000 In Student Loans Forgiveness?

Last week, President Biden asked the Department of Education to review his legal authority in using executive action to forgive student loan debt, which has renewed hope for many of the 45 million borrowers that collectively owe $1.7 trillion in student loans. But how should this affect your repayment strategy, and…Read more...
Tags: Politics, Money, Finance, Debt, Economy, Credit, Loans, Lifehacks, Biden, Debt relief, Student Debt, Department Of Education, Student Loan, Ron Klain, Business Finance, Zack Friedman


Nike, FedEx, and 24 other companies with $77 billion of combined income have avoided paying taxes for years, a new report found

Customers lined up outside the Nike flagship store on the opening day at Wangfujing Street on January 20, 2021 in Beijing, China. VCG/VCG via Getty Images 55 publicly traded companies paid $0 in federal taxes last year, a study by ITEP found. Nike and FedEx are among 26 companies that have not paid federal taxes in three years. In 2020, the 55 companies avoided paying about $12 billion in federal taxes. See more stories on Insider's business page. 55 of America's biggest companies ...
Tags: Amazon, Politics, News, Congress, Washington, White House, America, Trends, Nike, Hp, Tax, Reagan, Joe Biden, Economy, Getty Images, Income Tax


The minimum wage would be $44 an hour if it had grown at the same rate as Wall Street bonuses

Wall Street employees based in New York City earned an average bonus of $184,000 last year - a 10% increase from the year before. Johannes Eisele/Getty Images Wall Street bonuses have increased by 1,217% since 1985, according to New York comptroller data. If the federal minimum wage had grown at that same rate, it would be $44 an hour. That pay gap is also making the racial and gender pay gap worse because white men dominate finance. See more stories on Insider's business page. The cha...
Tags: Politics, New York, News, Finance, Wall Street, New York City, America, Trends, Markets, Minimum Wage, Economy, Reddit, Inequality, Anderson, Working Conditions, Sarah Anderson


The minimum wage would be $44 per hour if it had grown at the same rate as Wall Street bonuses

Wall Street employees based in New York City earned an average bonus of $184,000 last year - a 10% increase from the year before. Johannes Eisele/Getty Images Wall Street bonuses have increased by 1,217% since 1985, according to New York comptroller data. If the minimum wage had grown at that same rate, it would be $44 per hour. That pay gap is also making the racial and gender pay gap worse because white men dominate finance. See more stories on Insider's business page. The chaos that...
Tags: Politics, New York, News, Finance, Wall Street, New York City, America, Trends, Markets, Minimum Wage, Economy, Reddit, Inequality, New York State, Anderson, Working Conditions


Rapinoe joins Biden to promote closing pay gap

By Josh Boak | Associated Press WASHINGTON — President Joe Biden is making the case Wednesday that the pay disparity between men and women has hurt the economy, bringing members of the U.S. women’s national soccer team to the White House to help set new goals for equality. Wednesday marked “Equal Pay Day” — which is how far into the year women must work on average to make up the pay disparity between what men and women earned the prior year. The Census Bureau estimates that a woman working full-...
Tags: Politics, News, Washington, White House, Sport, Joe Biden, Economy, Soccer, World Cup, Biden, Megan Rapinoe, Jill, U S Soccer Federation, Census Bureau, San Francisco Federal Reserve, Rapinoe


Still Nickel and Dimed: Unpacking Tipping, Minimum Wage and the Fight for Equity

If you’ve been paying attention to the news, then you’d notice that there’s been a lot of talk about the federal minimum wage lately. Read more...
Tags: Politics, Labor, Articles, Minimum Wage, Economy, Social Issues, Lifehacks, Sam, Gratuity, Saru Jayaraman, Wages and Salaries, Household Income, Fight For 15, William J Barber, Tipped Wage, One Fair Wage


Around 2 million people could face delays getting $300 federal unemployment benefits

A person files for jobless benefits. Nick Oxford/The Washington Post/Getty Images Around 2 million people could see delays receiving unemployment benefits, including a $300 bonus. It could amount to a two-week delay that hits mostly gig workers and long-term unemployed people. Some states like New York say they can pay out enhanced unemployment aid this week. See more stories on Insider's business page. Around two million people could face delays receiving enhanced unemployment insuran...
Tags: Politics, New York, Pua, Republicans, California, US, Trends, Joe Biden, Economy, Policy, Democrats, Biden, Unemployment Insurance, Department of Labor, Century Foundation, Stettner


Zambia may burn after the August elections. Here’s how to prevent this

The public’s lack of trust in formal institutions means the election is a potential tinderbox. The people of Zambia need to challenge the status quo The post Zambia may burn after the August elections. Here’s how to prevent this appeared first on The Mail & Guardian.
Tags: Politics, Human Rights, Democracy, Police, Africa, Economy, Trade unions, Judiciary, Zambia, Youth Unemployment, Openaccess, Edgar Lungu, Patriotic Front, Top Six, Political Unrest, Electoral Commission of Zambia


Larry Summers, who called out inflation fears with Biden's $1.9 trillion COVID-19 relief package, says the US is seeing 'least responsible' macroeconomic policy in 40 years

Former US Treasury secretary Larry Summers. AP Photo/Michel Euler Larry Summers said that the US is seeing the "least responsible" macroeconomic policy in decades. The former Treasury secretary been critical of Biden's $1.9 trillion COVID-19 relief package. Summers said there's "a one-third chance" of significant inflation over the next few years. See more stories on Insider's business page. Former US Treasury Secretary Larry Summers said that the country is seeing the "least ...
Tags: Politics, Obama, Washington Post, Senate, US, Barack Obama, Trends, Bloomberg, Joe Biden, Economy, Cnn, Gop, House, Economic policy, Bill Clinton, Treasury


AT&T and Cigna are funding Republican groups led by election objectors they had promised to stop supporting

Erin Schaff/Getty Images AT&T and Cigna gave money to groups run by the GOP election objectors they pledged to stop supporting, Popular Information reported. Some companies paused certain PAC contributions after GOP efforts to overturn Biden's victory led to violence. Here's how much each S&P 500 corporate PAC had given - and if they've paused or resumed contributions. Visit Business Insider's homepage for more stories. AT&T and Cigna both gave money last month to groups o...
Tags: Energy, Transportation, Florida, Real Estate, Politics, News, Enterprise, Media, Entertainment, Congress, Finance, Senate, White House, Advertising, US, Trends


AT&T, Cigna abandon promises to stop financing Republicans who voted to overturn the election

Erin Schaff/Getty Images AT&T and Cigna have resumed funding GOP election objectors, Popular Information reported Friday. Some companies paused PAC contributions after GOP efforts to overturn Biden's victory led to violence. Here's how much each S&P 500 corporate PAC had given - and if they've paused or resumed contributions. Visit Business Insider's homepage for more stories. AT&T and Cigna both gave money last month to groups overseen by Republican lawmakers who sought t...
Tags: Energy, Transportation, Florida, Real Estate, Politics, News, Enterprise, Media, Entertainment, Congress, Finance, Senate, White House, Advertising, US, Trends


More than half of US states could take over a year for their job markets to fully recover

A waitress takes customers' orders in the outdoor seating area of a restaurant on January 28, 2021 in Los Angeles. Valerie Macon/AFP/Getty Images Some states may see a faster recovery than others if they add jobs each month at their current pace. We used employment data to estimate how long it would take each state to reach pre-pandemic levels. Utah could recover in just a month, based on the state's six-month average of employment growth. See more stories on Insider's business...
Tags: Utah, Florida, Maps, Colorado, California, Montana, Oregon, White House, US, Employment, Trends, Economy, Idaho, South Dakota, Hawaii, Washington Dc


Ohio's attorney general is suing the Biden administration over the $1.9 trillion COVID-19 stimulus bill

President Joe Biden speaks about the COVID-19 relief package in the State Dining Room of the White House, Monday, March 15, 2021, in Washington Patrick Semansky/AP Ohio's GOP attorney general is suing the Biden administration over the $1.9 trillion stimulus bill. The lawsuit argues that requirements on the spending of state and local aid are unconstitutional. Previously, 21 Republican attorneys general warned the administration they could take legal action. See more stories on Inside...
Tags: Politics, Congress, Senate, White House, Trends, Joe Biden, Economy, Gop, Maine, House, Treasury, US Senate, Ohio, Janet Yellen, Biden, Stimulus


Biden promises 100 million COVID-19 shots and 100 million stimulus checks in the next 10 days

President Joe Biden speaks about the COVID-19 relief package in the State Dining Room of the White House, Monday, March 15, 2021, in Washington Patrick Semansky/AP Biden pledged to get 100 million shots in arms and 100 million checks in pockets in the next 10 days. As of March 12, the US has already administered 100 million COVID-19 vaccine doses. $1,400 stimulus checks from the American Rescue Plan are starting to hit Americans' bank accounts. See more stories on Insider's busin...
Tags: Politics, Science, Congress, Cdc, Washington, White House, US, Trends, Joe Biden, Economy, Vaccines, Biden, Donald Trump, Gene Sperling, Stimulus, Irs


Nearly 7 million tax returns haven't been processed by the IRS because of stimulus changes

Internal Revenue Service. Chip Somodevilla /Staff/Getty Images The IRS is behind in processing tax returns for nearly 7 million Americans. Changes in the December and March stimulus bills account for the delay, as does a cut in IRS staffing. Lawmakers have asked the IRS to extend deadlines and remove requirements on filing amended returns. See more stories on Insider's business page. President Joe Biden signed his $1.9 trillion stimulus package on Thursday, a win for many Americans who...
Tags: Politics, Taxes, Congress, Senate, Trends, Markets, Joe Biden, Economy, Marvin, Treasury, Biden, The Washington Post, Stimulus, Irs, Tax Returns, Internal Revenue Service


Americans can now start tracking the status of their $1,400 stimulus checks

FG Trade/Getty Images The IRS said people can begin tracking the status of their payments online. The initial batch of $1,400 checks has started landing into people's bank accounts. The IRS is moving swiftly to send out the checks as part of Biden's stimulus law. See more stories on Insider's business page. Americans are starting to see $1,400 stimulus checks land in their bank accounts this weekend under President Joe Biden's stimulus law. But people who don't get a d...
Tags: Politics, Congress, White House, Trends, Markets, Joe Biden, Economy, Social Security, Treasury, Biden, Donald Trump, Irs, Trump, The IRS, Direct Deposit, Joseph Zeballos Roig


Stimulus checks are starting to hit Americans' bank accounts this weekend, but some may not be able to access the money right away

Some Americans may not be able to access their federal cash this weekend. skynesher Many Americans are seeing $1,400 stimulus checks in their bank accounts, but they may not be able to access the money immediately. The IRS said it is officially releasing the payments on March 17. That means it may take several more days for the checks to clear at major financial institutions. See more stories on Insider's business page. Many Americans are seeing $1,400 stimulus checks hit their bank ac...
Tags: Politics, Republicans, Congress, Trends, Markets, Joe Biden, Economy, Democrats, Chase, Citibank, Irs, Wells Fargo, U S Treasury, Treasury Department, The IRS, Chime


Americans can start tracking the status of their $1,400 stimulus checks on Monday

FG Trade/Getty Images The IRS said people can begin tracking the status of their payments on Monday. The initial batch of $1,400 checks has started landing into people's bank accounts. The IRS is moving swiftly to send out the checks as part of Biden's stimulus law. See more stories on Insider's business page. Americans are starting to see $1,400 stimulus checks land in their bank accounts this weekend under President Joe Biden's stimulus law. But people who don't get ...
Tags: Politics, Congress, White House, Trends, Markets, Joe Biden, Economy, Social Security, Treasury, Biden, Donald Trump, Irs, Trump, The IRS, Direct Deposit, Joseph Zeballos Roig


American billionaires could fund two-thirds of Biden's COVID-19 relief package just using profits generated during the pandemic, a report shows

Bill Gates and Elon Musk. Susan Walsh/AP; Joshua Roberts/Reuters; Axel Schmidt/Getty Images The total wealth of US billionaires rose $1.3 trillion amid the pandemic, the ATF and IPS said. This could fund two-thirds of Biden's $1.9 trillion COVID-19 rescue plan. The momentum for measures that address wealth inequality has grown during the pandemic. See more stories on Insider's business page. American billionaires have earned so much money during the pandemic that they could fund tw...
Tags: Amazon, Facebook, Mark Zuckerberg, Elon Musk, Politics, Congress, Massachusetts, US, Trends, Joe Biden, Economy, Billionaires, Bill Gates, Argentina, Jeff Bezos, Biden


The $1,400 stimulus checks are already landing in people's bank accounts

President Joe Biden speaks before signing the American Rescue Plan Act. Mandel Ngan/AFP via Getty Images) President Joe Biden signed the $1.9 trillion stimulus package Thursday. By Friday, $1,400 stimulus checks had already landed in people's bank accounts. More direct deposits, physical checks, and prepaid debit cards will be sent out in the coming weeks. See more stories on Insider's business page. The latest round of stimulus checks has already landed in thousands of people'...
Tags: Politics, Politico, Trends, Joe Biden, Economy, Wall Street Journal, Stimulus, Irs, Journal, Treasury Department, The Journal, Mandel Ngan, COVID-19, Stimulus Check, Kelsey Vlamis


The new stimulus bill includes a groundbreaking basic-income policy - parents can receive up to $3,600 per child this year

Maskot/Getty Images The new COVID-19 stimulus bill expands the child tax credit to offer most parents monthly checks. Parents can receive up to $3,600 per child for a year, no strings attached. Economists say the groundbreaking program is akin to a basic-income policy. See more stories on Insider's business page. President Joe Biden signed the $1.9 trillion COVID-19 stimulus bill into law on Thursday. Tucked into it is a $100 billion plan to offer most parents recurring monthly checks...
Tags: Europe, Politics, News, Germany, US, Trends, Joe Biden, Economy, Stockton, Columbia University, Unicef, Baker, Stimulus, Basic Income, Stockton California, Austria Denmark



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