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Posts filtered by tags: Janet Yellen[x]


 

Why one of Wall Street's titans is on the side of the tax reformers - and maybe Joe Biden and Janet Yellen

JPMorgan CEO Jamie Dimon. Getty Images An "extraordinary number" of loopholes help the rich but not the US economy, JPMorgan CEO Jamie Dimon said. Dimon echoes the pitch from the Biden administration to pay for a massive infrastructure and jobs program. Dimon, who mainly donates to Democrats, has long been rumored as a potential Treasury Secretary but has passed on the job. See more stories on Insider's business page. Tax policy has taken center stage in recent weeks. President Joe Bid...
Tags: US, Barack Obama, Trends, Joe Biden, Treasury, Warren Buffett, Janet Yellen, Biden, Donald Trump, Jamie Dimon, Cnbc, Jpmorgan, Dimon, Ben Winck, Jamie Dimon Getty


Biden open to compromise but rejects infrastructure inaction

By Josh Boak | Associated Press President Joe Biden drew a red line on his $2.3 trillion infrastructure plan Wednesday, saying he is open to compromise on how to pay for the package but inaction is unacceptable. The president turned fiery in an afternoon speech, saying that the United States is failing to build, invest and research for the future and adding that failure to do so amounts to giving up on “leading the world.” “Compromise is inevitable,” Biden said. “We’ll be open to good ideas in g...
Tags: White House, West Virginia, Sport, Joe Biden, Soccer, United States, Commerce, Janet Yellen, Republican, Biden, Donald Trump, Trump, Yellen, U S Chamber of Commerce, American Enterprise Institute, Joe Manchin


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


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

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 just 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. Administration officials are already saying they could compromise on raising the corporate tax rate to 28%. See more stories on Insider's ...
Tags: Amazon, Congress, Washington, Senate, White House, US, Trends, Joe Biden, Cnn, Commerce, Treasury, Janet Yellen, Jeff Bezos, Biden, Donald Trump, Chamber of Commerce


10 Things in Politics: Anti-Trump Republicans weigh in on Biden

Clockwise from top left: Former RNC Chair Michael Steele; former New Jersey Gov. Christie Todd Whitman;Former Trump communications director Anthony Scaramucci and Former Rep. Susan Molinari Steele/Photo By Bill Clark/Roll Call; Whitman, AP Photo/Mel Evans; Scaramucci/ AP Photo/Pablo Martinez Monsivais; Molinari/ Photo by Teresa Kroeger/Getty Images for Google Good morning! Congratulations to Baylor who finished Gonzaga's quest for a perfect season with a rout in the men's national t...
Tags: Google, New York, Supreme Court, Minneapolis, Congress, Senate, White House, Politico, US, West Virginia, Trends, Georgia, Chicago, Democrats, Arkansas, Connecticut


Biden breaks with Trump and says he'll stick up for Federal Reserve's independence

Salwan Georges/The Washington Post via Getty Images, Tasos Katopodis/Getty Images Biden said he wanted to break with Trump in sticking up for the Federal Reserve's independence. "I want to be real clear that I'm not going to do the kinds of things that have been done in the last administration," Biden said. While he was in office, Trump pressured Fed Chair Powell against raising interest rates. See more stories on Insider's business page. President Joe Biden said on Tuesday h...
Tags: Congress, Washington Post, White House, China, US, Trends, Joe Biden, United States, Treasury, Janet Yellen, Npr, Federal Reserve, Biden, Donald Trump, Trump, Fed


Germany backed Janet Yellen's call for a minimum global corporate tax rate, and said 140 countries could agree a deal by summer

US Treasury Secretary Janet Yellen. Manuel Balce Ceneta/AP US Treasury Secretary Janet Yellen on Monday called for a minimum global rate of corporate tax. Germany's finance minister Olaf Scholz said Tuesday he supported the plan. Scholz said a taxation deal could be agreed among more than 140 countries by this summer. See more stories on Insider's business page. Germany has backed US Treasury Secretary Janet Yellen's proposal for a global minimum rate of corporate income tax, a...
Tags: Politics, Germany, US, America, Trends, Tax, Janet Yellen, US Treasury, OECD, Biden, Corporate Tax, Nordic, Yellen, Reuters, Scholz, Olaf Scholz


2 Democratic Senators are already saying Biden's infrastructure plan probably needs to change

Sen. Joe Manchin (D-WV). Chip Somodevilla/Getty Images Democrats in the Senate are already voicing their concerns with the infrastructure package. Sen. Joe Manchin says he's concerned about the increase to the corporate tax rate. And Sen. Mark Warner has "already expressed some concerns" and wants more input. See more stories on Insider's business page. Two Democratic senators have already voiced concerns about President Joe Biden's .One of them is Sen. Joe Manchin, a moderate...
Tags: Senate, White House, Virginia, West Virginia, Trends, Joe Biden, Gop, Treasury, Mitch McConnell, Janet Yellen, Biden, Mark Warner, Manchin, Sen Joe Manchin, Hoppy Kercheval, Sen Mark Warner


The Boomer death tax

“OK, Boomer” is a mocking retort made by a member of the millennial generation to someone born between 1946 and 1964 – the Baby Boom generation. Like Boomers themselves, Millennials are dismissive of advice or direction from the generation that preceded them. But both Boomers and Millennials – as well as the subsequent Gen X, Y & Z – had better be prepared for what is coming courtesy of the Biden administration – a massive new tax that will hit everyone who has wishes to pass on family wealth to...
Tags: California, Opinion, White House, Sport, Soccer, Treasury, Janet Yellen, Biden, Journal, Boomers, Trump, Boomer, Jon Coupal, California Association Of Realtors, Opinion columns


7 Governors, Including Newsom, Call On Biden To Lift $10k Cap On Tax Deductions

SACRAMENTO (AP/CBS13) – California Gov. Gavin Newsom and six other Democratic governors on Friday called on President Joe Biden to lift the $10,000 cap on state and local tax deductions that was a part of former President Donald Trump’s massive 2017 tax law, arguing the “assault” disproportionately targeted Democratic-run states and ultimately increased taxes on families. The letter comes a little more than a week after U.S. Treasury Secretary Janet Yellen agreed to work with Congress on a way t...
Tags: Politics, New York, Congress, California, Oregon, California News, Sacramento, Joe Biden, Ap, Hawaii, Connecticut, New Jersey, Janet Yellen, Biden, Donald Trump, Gavin Newsom


The economy added almost 1 million jobs in March, but 14.3 million people are still jobless

Moviegoers shop at concessions before the movie "Godzilla vs. Kong" on the reopening day of the TCL Chinese theatre during the outbreak of the coronavirus disease (COVID-19), in Los Angeles, March 31, 2021. Mario Anzuoni/Reuters The March jobs report trounced forecasts, but some unemployment gauges show a steep climb ahead. The "real" unemployment rate used by Fed Chair Powell and Treasury Secretary Yellen fell to 8.7% from 9.1%. The measure includes misclassifications and workers who drop...
Tags: White House, US, Los Angeles, Trends, Bloomberg, Joe Biden, Bureau of Labor Statistics, Treasury, Janet Yellen, Biden, Yellen, Tcl, Kong, Oxford Economics, Federal Reserve Chair, Jerome Powell


Obama staffers amazed at how 'different' Biden's approach to stimulus is

Former President Barack Obama and President Joe Biden at an event in Biden's home town of Scranton, Pennsylvania, in 2013. REUTERS/Jason Reed The size of Biden's stimulus plans has surprised some who worked in the Obama administration. Obama faced debt fears from both Democrats and Republicans when passing aid during the Great Recession. Biden has already passed a massive stimulus package and he's preparing an even bigger infrastructure bill. See more stories on Insider's b...
Tags: Labor, Obama, Congress, Senate, White House, US, Barack Obama, Trends, Joe Biden, Cnn, Pennsylvania, Harvard University, House, Janet Yellen, Federal Reserve, Biden


The real answer to whether the national debt is too big lies with Treasury yields, UBS says

Clouds form above the Capitol in between rain showers on the National Mall on March 28, 2021 in Washington, DC. ( Al Drago/Getty Images Watch Treasurys for signs of when the government may have to cut down on its spending, UBS said. The bank expects pandemic-era stimulus to lift the national debt to $35 trillion by 2023. Congress should "question sustainability" if rising yields boost interest payments, UBS said. See more stories on Insider's business page. The swelling national debt i...
Tags: Congress, Washington, White House, US, Trends, Joe Biden, Ubs, Treasury, National Mall, Janet Yellen, Npr, Biden, Capitol, Congressional Budget Office, Federal Reserve Chair, Jerome Powell


Eviction ban extended through June just days before up to 40 million faced risk of losing housing

Housing activists erect a sign in front of Massachusetts Gov. Charlie Baker's house in Swampscott, Mass. Michael Dwyer/AP Photo The CDC extended the ban on evictions through June 30 on Monday. This extension comes two days before the current eviction ban was set to expire. Lawmakers and experts said that while an extension was needed, Biden needs to enforce the ban better. See more stories on Insider's business page. Two days before it was set to expire, on Monday the Centers for D...
Tags: Texas, California, Washington Post, Cdc, White House, Massachusetts, Trends, Joe Biden, Treasury, Ohio, Janet Yellen, Biden, Centers For Disease Control And Prevention, Charlie Baker, Internal Revenue Service, Treasury Department


History shows us that wealth taxes don’t work

With Democrats now in control of the House, Senate and White House, many of the most significant policy battles of the next two years will be determined by intraparty fights within the Democratic Party’s various factions. Although not a moderate in any meaningful sense, President Joe Biden has always positioned himself strategically at the center of his party. Nevertheless, his defeat of the party’s left wing in the last presidential primary won’t be the end of a populist insurgence. Sadly, one ...
Tags: California, Opinion, White House, Massachusetts, Sport, Joe Biden, Soccer, United States, Treasury, Warren, Janet Yellen, OECD, Biden, Vermont, Irs, Sanders


10 Things in Politics: Another mass shooting in America

Police officers outside the King Soopers grocery store in Boulder, Colorado, where a shooting took place on March 22, 2021. AP Photo/David Zalubowski Good morning! Welcome back to 10 Things in Politics. Sign up here to get this newsletter in your inbox each day. Send your tips and suggestions to [email protected] or tweet me @BrentGriffiths. Here's what you need to know:10 people were killed in a mass shooting at a grocery store in Boulder, Colorado.Trump is plotting out his own so...
Tags: Spotify, Florida, Politics, Labor, Obama, Colorado, Washington, Senate, White House, US, America, Trends, Atlanta, Joe Biden, Gop, Missouri


'Cynical ploy': Republicans pan White House effort to split $3 trillion infrastructure plan into multiple bills, dampening odds of deal

Sen. John Thune at a Republican news conference alongside Sen. Minority Leader Mitch McConnell. Kevin Dietsch/Pool/AFP Republicans criticized the White House's $3 trillion infrastructure plan on Tuesday. They appeared no likelier to support it even if it's split into two packages. "I don't think our guys are going take the bait on that," Sen. John Thune said. See more stories on Insider's business page. President Joe Biden's economic team is in the early stages of draft...
Tags: Congress, Senate, White House, Trends, Joe Biden, Gop, South Dakota, House, New York Times, Medicare, Janet Yellen, Nancy Pelosi, Louisiana, Biden, Medicaid, Kennedy


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


Dianne Feinstein is 'open' to filibuster reform, citing GOP 'abuse' of the Senate procedure

Sen. Dianne Feinstein (D-California) speaks during the confirmation hearing for then-Treasury Secretary nominee Janet Yellen on January 19, 2021. Anna Moneymaker/The New York Times via AP, Pool Dianne Feinstein said that she would be "open" to possible changes with the legislative filibuster. The position is stark turnaround for the longtime Senate institutionalist. Feinstein said that she is concerned about Republican 'abuse' of the procedural tool. See more stories on Insider'...
Tags: Politics, California, Senate, West Virginia, Trends, Joe Biden, Gop, House, New York Times, Arizona, Treasury, Mitch McConnell, Janet Yellen, Republican, Biden, Donald Trump


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 expresses confidence he can get Democratic support for a tax hike on Americans earning above $400,000

President Joe Biden Chip Somodevilla/Getty Images In an ABC News interview, the president pledged to raise taxes on Americans earning over $400,000. He also said he may not get any Republican support for the hike, but will get Democratic votes. Progressives like Sen. Elizabeth Warren have been pushing for a broader wealth tax. See more stories on Insider's business page. President Joe Biden said he is confident he can enact a large federal tax hike on some Americans with only Democrati...
Tags: Congress, Senate, White House, Trends, Joe Biden, Treasury, Warren, Mitch McConnell, Janet Yellen, Biden, Abc News, Yellen, Sen Elizabeth Warren, Congressional Democrats, Jen Psaki, Sen Warren


Younger investors reply 'OK boomer' to older generations' inflation fearmongering

A man sits on the Wall street bull near the New York Stock Exchange (NYSE) on November 24, 2020 in New York City. Spencer Platt/Getty Images Older investors and younger investors have vastly different inflation expectations amid new stimulus. Those who lived through the "Great Inflation" fear price growth will run rampant, Deutsche Bank said. A material rise in inflation likely depends on younger Americans bracing for higher prices. See more stories on Insider's business page. Older in...
Tags: Obama, Washington Post, New York City, US, Barack Obama, Trends, Joe Biden, Bill Clinton, Treasury, Deutsche Bank, Janet Yellen, Federal Reserve, Biden, Donald Trump, The Washington Post, Imf


21 GOP Attorneys General are pressing Biden's administration for clarity on stimulus element

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 21 Republican Attorneys General have asked for clarity on a provision in the stimulus bill. The bill allocated $350 billion to help localities pay for the costs of the pandemic. The officials claim the current provisions prevents them from cutting taxes. See more stories on Insider's business page. Twenty-one Republican A...
Tags: Politics, Congress, Washington Post, Washington, White House, West Virginia, Trends, Joe Biden, Ap, Gop, Treasury, Janet Yellen, Biden, Yellen, Treasury Department, Tax Policy Center


On wealth tax, White House says Biden and Warren have different plans

White House Press Secretary Jen Psaki listens during a daily press briefing at the James Brady Press Briefing Room of the White House on March 11, 2021. Alex Wong/Getty Images White House Press Secretary Jen Psaki was asked about a wealth tax during a Monday press briefing. She said President Biden has different plans than longtime wealth-tax champion Sen. Elizabeth Warren. Psaki also cited democracy in action, saying she's sure they'll discuss it at an "appropriate time." See more...
Tags: White House, Trends, Bloomberg, House, Treasury, Warren, Janet Yellen, Biden, Yellen, White House Press, Jen Psaki, Sen Warren, Psaki, Per Bloomberg, Juliana Kaplan, James Brady Press


Janet Yellen signals Biden is still open to a wealth tax. Even without one, wealthy Americans likely face hikes.

Janet Yellen. Andrew Harnik/AP Photo Treasury Secretary Janet Yellen told ABC News the Biden administration is undecided on a wealth tax. The White House had previously indicated it was against a wealth tax due to implementation issues. Bloomberg reports wealthy Americans and corporations are likely to face tax hikes anyway. See more stories on Insider's business page. In an interview, Treasury Secretary Janet Yellen was questioned by ABC's George Stephanopoulos about the potential...
Tags: Abc, White House, Trends, Bloomberg, Treasury, Janet Yellen, Biden, Abc News, George Stephanopoulos, Trump, Yellen, University of California at Berkeley, Sen Elizabeth Warren, Stephanopoulos, Wall Street Journal House, Biden White House


Janet Yellen signals Biden is still open to wealth tax. Even without one, wealthy Americans likely face hikes.

Janet Yellen. Andrew Harnik/AP Photo Treasury Secretary Janet Yellen told ABC News the Biden administration is undecided on a wealth tax. The White House had previously indicated it was against a wealth tax due to implementation issues. Bloomberg reports wealthy Americans and corporations are likely to face tax hikes anyway. See more stories on Insider's business page. In an interview, Treasury Secretary Janet Yellen was questioned by ABC's George Stephanopoulos about the potential...
Tags: Abc, White House, Trends, Bloomberg, Treasury, Janet Yellen, Biden, Abc News, George Stephanopoulos, Trump, Yellen, University of California at Berkeley, Sen Elizabeth Warren, Stephanopoulos, Wall Street Journal House, Biden White House


Treasury Secretary Yellen says the stimulus bill will get the economy back on track 'quickly', with near full employment next year

Treasury Secretary Janet Yellen. Jonathan Erns/Reuters Treasury Secretary Janet Yellen said Sunday that the US could see full employment next year. The stimulus package will offer the support for that recovery, Yellen told ABC News on Sunday. Full employment does not mean zero unemployment, but it would reflect a healthier economy. See more stories on Insider's business page. The US could return to full employment in 2022, Treasury Secretary Janet Yellen said on Sunday, renewing her fo...
Tags: Abc, Senate, White House, US, Trends, Joe Biden, House, Treasury, Janet Yellen, Goldman Sachs, Federal Reserve, Biden, Abc News, Trump, Yellen, BLS


Janet Yellen says the US Treasury is working to deliver relief aid as quickly as possible

Anna Moneymaker-Pool/Getty Images Janet Yellen said Tuesday her department is working to distribute Biden's relief package quickly.She said the rescue plan could help avoid a key mistake made during the Great Recession. The $1.9 trillion stimulus package includes $1,400 direct payments and $3,600 annual child tax credits.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.Treasury Secretary Janet Yellen said on Tuesday her department is working to distribute Joe Bi...
Tags: Senate, White House, US, Trends, Joe Biden, Treasury, Janet Yellen, US Treasury, States, Biden, Yellen, National League of Cities, Jen Psaki, Psaki, Shalini Nagarajan, Opening Bell Treasury


The White House says a 'large number' of Americans will receive $1,400 stimulus checks by the end of March

White House Press Secretary Jen Psaki. SAUL LOEB/AFP via Getty Images The White House says many Americans can expect to get a $1,400 stimulus check this month. Individuals earning below $75,000 annually can receive the full amount. In the last stimulus, the IRS distributed 147 million checks in two months. Visit the Business section of Insider for more stories. The White House said on Monday that many Americans can expect to get a $1,400 stimulus check within a few weeks.White House Press ...
Tags: Politics, Republicans, Congress, Senate, White House, Trends, Markets, Joe Biden, Economy, Democrats, House, Treasury, Janet Yellen, Biden, Irs, Child Tax Credit


Missing in action? Yellen’s Treasury staffers complains she nearly ghosted COVID-19 bill talks

Staffers say Janet Yellen has kept an unusually low profile at the White House and on Capitol Hill even as the administration pushed for...
Tags: White House, Treasury, Janet Yellen, Capitol Hill, Yellen



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