After a rough summer, President Joe Biden is getting ready to spend the autumn fighting for tax increases on the wealthiest Americans and corporations. The surge of the Covid-19 delta
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Moderate Democrats want the $3.5 trillion spending plan to remove the limit on state and local tax deductions
A host of moderate Democrats say they won't support President Joe Biden's $3.5 trillion package without a repeal of the cap on state and local tax deductions, known as SALT.
Continue reading »Wildfires and higher pay for firefighters is a major focus of infrastructure bill
The $1 trillion infrastructure bill passed by the Senate this month includes money to raise wages for federal firefighters and Forest Service staff and would make about 1,000 temporary firefighting
Continue reading »Mortgage rates hit their highest level in a month, and weekly demand drops
The average rate for 30-year fixed-rate mortgages increased to 3.06% from 2.99% last week. Applications to refinance a home loan, which are highly rate-sensitive, fell 5% last week from the
Continue reading »Fed should announce bond taper in September, begin it in October, says Dallas Fed President Kaplan
Dallas Fed President Robert Kaplan said that the central bank should begin to taper its monthly purchases of Treasury bonds in October. His view that the Fed ought to begin
Continue reading »What the federal debt ceiling means to your wallet
If Congress can’t reach a deal on the debt ceiling in September, it will impact everything from equities to interest rates. Here's a breakdown of what happens when the country
Continue reading »States cutting unemployment benefits didn't get people back to work, study finds
Twenty-five states have ended all or some federal benefits paid to the unemployed, including an extra $300 a week. Another state, Louisiana, will do so later this month. States said
Continue reading »Branson’s impact on commercial space race will be huge, says former NASA astronaut
On Sunday, Virgin Galactic successfully completed its first fully crewed test flight into suborbital space. “I think it's going to be huge,” said retired NASA astronaut Stott. “We’re on that
Continue reading »Wall Street expects European stocks to outperform the U.S. this year. Here’s why
Recent economic data out of the euro zone suggests its recovery is gathering steam, after a sluggish start due to persistent lockdown measures and a slow vaccine rollout. Mutual fund
Continue reading »Housing boom may be cooling as weekly mortgage demand drops again
The average interest rate for 30-year fixed-rate mortgages decreased to 3.17% from 3.18% last week, but the Mortgage Bankers Association said applications for a mortgage to purchase a home fell
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