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Powell says Fed taper could start 'soon' and end around mid-2022 news24.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from news24.com Daily Mail and Mail on Sunday newspapers.
Payne Lubbers, Bloomberg News, (TNS) Applications for U.S. state unemployment insurance fell for a fourth consecutive week as more Americans get vaccinated and businesses reopen to eager customers. Initial claims in regular state programs decreased by 38,000 to 406,000 in the week ended May 22, Labo ....
May 6, 2021 7:02 AM By Zachary Sherwood and Brandon Lee President Joe Bidenâs plan to raise $700 billion over a decade from increased tax audits of the wealthy and corporations a major funding source for his economic-investment proposals will probably take years to bear fruit and faces skepticism that the figure is realistic. The Biden administration has proposed a more than 10% funding increase for the Internal Revenue Service for the next fiscal year and an overall investment of $80 billion over the next 10 years to beef up the agencyâs depleted auditing staff and outdated technology. Bidenâs American Families Plan, released last week, highlighted the audit take as a principal way to pay for $1.8 trillion in initiatives including child care and education. ....
Biden Aims at Top 0.3% With Bid to Tax Capital Like Wages President Joe Biden s plans to double the capital gains tax for those earning $1 million or more would affect only about 0.32% of American taxpayers. Laura Davison and Allyson Versprille | Apr 23, 2021 (Bloomberg) President Joe Biden wants to end the preferential U.S. tax treatment of investment income that has benefited the nation’s wealthy as he seeks to fund a sweeping new social-spending program. But he will need to overcome a major political hurdle in Congress to do so. The White House plans to propose almost doubling the capital gains tax rate for those earning $1 million or more, to 39.6%, according to people familiar with the proposal. That wouldn’t affect many. Only about 0.32% of American taxpayers reported adjusted gross income of more than $1 million and capital gains or losses on their returns, according to Internal Revenue Service tax return data from 2018. ....
April 15, 2021 7:00 AM By Zachary Sherwood and Brandon Lee John Kerry has been flying around the world trying to get some of the biggest polluters to step up their fight against climate change in time for a White House summit on April 22. If new goals are the measure of success, the meeting is shaping up to be a disappointment. President Joe Bidenâs climate envoy this week touched down in Shanghai, Chinaâthe most high profile stop on a tour thatâs so far included India, the U.K., Bangladesh and the United Arab Emirates. Later heâll travel to Seoul, South Korea. ....