People in protective clothings are pictured while checking the body temperature of people crossing the German-Polish border on March 18, 2020 in Goerlitz, Germany. Florian Gaertner | Photothek | Getty Images German businesses expect coronavirus restrictions on public life to continue for another 8.5 months on average, according to the closely-followed Ifo institute, as the
Month: August 2020
President Trump signed four executive orders on Saturday. They direct the Treasury to extend the federal bonus for unemployment insurance, order the Treasury and HUD to provide temporary funds to renters and struggling homeowners, extend a payment moratorium on student loans, and defer the 6.2% Social Security tax, also known as the payroll tax. All
ASSOCIATED PRESS On August 6, 2020, the Senate adjourned without passing a stimulus package. Senate Majority Leader Mitch McConnell (R-KY) wasn’t involved in the talks, leaving Senate Minority Leader Chuck Schumer (D-NY) and House Speaker Nancy Pelosi (D-CA) to work directly with Treasury Secretary Steve Mnuchin and White House Chief of Staff Mark Meadows. As
U.S. Speaker of the House Nancy Pelosi, joined by Senate Minority Leader Chuck Schumer, speaks to reporters in the U.S. Capitol in Washington, July 29, 2020. Erin Scott | Reuters Top Democrats on Sunday criticized President Donald Trump’s executive actions on coronavirus relief as “absurdly unconstitutional” and “way off base.” The measures, which Trump signed on Saturday
Trader Michael Urkonis works on the floor of the New York Stock Exchange, January 28, 2020. Bryan R Smith | Reuters U.S. stock futures opened flat on Sunday night after President Donald Trump signed several executive orders aimed at extending coronavirus relief. Those orders continue the distribution of expanded unemployment benefits, defer student loan payments
Many Americans are struggling to meet their credit card mills during the pandemic. zenstock | iStock | Getty Images Amid one of the worst downturns in U.S. history, nearly 80% of credit card holders say they’re worried they won’t be able to continue making even the minimum payments on their debt. The figure comes from
Economic Security Planning, Inc. Today’s column addresses questions about having no income in the years before filing, potentially filing early with minor children, potential effects of continuing to earn income and how spousal benefit amounts are determined. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security
ASSOCIATED PRESS On August 6, 2020, the Senate adjourned without passing a stimulus package. Senate Majority Leader Mitch McConnell (R-KY) wasn’t involved in the talks, leaving Senate Minority Leader Chuck Schumer (D-NY) and House Speaker Nancy Pelosi (D-CA) to work directly with Treasury Secretary Steve Mnuchin and White House Chief of Staff Mark Meadows. As
Downtown Greenville, South Carolina getty I’ll state right away that I still see promise in certain big-city real estate investment trusts (REITs). So this is not a hit against that entire focus. You may have seen the recent news that Facebook (Nasdaq: FB) signed a massive lease with Vornado Realty Trust (VNO). And that’s in
Medics transfer a patient on a stretcher from an ambulance outside of Emergency at Coral Gables Hospital where Coronavirus patients are treated in Coral Gables near Miami, on July 30, 2020. Chandan Khanna | AFP | Getty Images The United States has surpassed 5 million Covid-19 cases, a grisly milestone that represents roughly a quarter
Spencer Platt | Getty Images As earnings season wraps up, analysts are reviewing their short-term and long-term take on the stocks they cover. While some companies delivered blowout quarters (see below), other stocks are suffering as global restrictions continue. And while government-backed stimulus programs can provide some relief, the truth remains that the pandemic- and
Tenants and housing activists in Brooklyn, New York, protested in a Bushwick park on July 5. Erik McGregor | Getty Images Negotiations over the next coronavirus stimulus package on Capitol Hill ended the week in a stalemate. But there’s one form of help lawmakers reportedly agree on: a second set of stimulus checks. This week’s
In the days following the death of George Floyd, Brooklyn-based entrepreneur Aurora James was skeptical of the deluge of corporate support for the Black community. “As a Black woman, and also as a business owner, I was reading it, but I wasn’t necessarily feeling it to be true,” said James, who runs Brother Vellies, a company
getty First, the background: With Congressional negotiations on a “second stimulus” bill going nowhere, President Trump signed a set of executive orders yesterday, of dubious legality or effectiveness, regarding student loans, evictions, unemployment benefits, and, yes, Social Security. After having called for a payroll tax cut since the start of the crisis (as far back
President Trump said over the weekend, “If I’m victorious on November 3rd, I plan to forgive these [payroll taxes for Social Security and Medicare] and make permanent cuts to the payroll tax.” Currently, employers and employees split the 12.4% payroll tax on the first $137,700 of 2020 earnings and also split the 2.9% Medicare tax
Mortgage interest rates have dropped even lower getty As the weeks go by, the rates get lower. A few weeks ago mortgage interest rates dipped below the 3% barrier—which was a line in the sand many industry experts doubted would ever be crossed. Now, according to Freddie Mac’s latest weekly report, mortgage interest rates reached
Director of the National Institute for Allergy and Infectious Diseases Dr. Anthony Fauci testifies before the US Senate Health, Education, Labor, and Pensions Committee hearing to examine COVID-19, “focusing on lessons learned to prepare for the next pandemic”, on Capitol Hill in Washington, DC on June 23, 2020. Kevin Dietsch | Pool | AFP |
Getty Images Financial technology start-ups in most of the world raised more money in the second quarter than they did in the first three months of the year, but deal activity remained on a decline, according to a new report from CB Insights. Fintech funding rose 17% on-quarter from $7.9 billion to $9.3 billion, according to
getty Professor Marshall Ketchum eyed the young graduate student. His colleague, Professor Marschak, former director of the Cowles Commission for Research in Economics, had directed the student to get a reading list from the learned academic. That student would go on to win the Nobel Prize. And it was all because of one of the
Payment notification. Serious unhappy elderly woman sitting together with her husband and looking at … [+] the document while holding it getty Well while Congress dithers our President takes action to give us some relief with an executive order a “modest, targeted action will put money directly in the pockets of American workers and generate
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