[ad_1] With a pitiful first half for the stock market now in the history books, investors are assessing whether the US economy can survive a significant recession as federal Reserve Raises rates to fight the worst inflation in decades. The answer to this question has a direct bearing on the markets. Strategists say an economic slowdown coupled with weak corporate earnings could reduce the S&P 500 by at least 10%, undoing losses that have already pushed the benchmark index down 18% year-over-year. Conversely, according to some analysts’ price targets, in…
Tag: Federal
A Federal Gas Tax Holiday?
[ad_1] Biden close to gas tax decision. President Joe Biden says a Decision on gas tax holiday Could come this week. “I hope to make a decision by the end of the week based on the data I’m looking for,” he said. Over the weekend, Treasury Secretary Yellen said the administration was open to the idea. This could come in the form of a temporary suspension or some sort of waiver check. Most Hill Republicans oppose the tax holiday. But no gas tax holiday in RI. Gov. Dan Mackie says…
A Federal Gas Tax Holiday?
[ad_1] Biden closes on gas tax decision. President Joe Biden says a Decision on gas tax holiday Could come this week. “I hope to make a decision by the end of the week based on the data I’m looking for,” he said. Over the weekend, Treasury Secretary Yellen said the administration was open to the idea. This could come in the form of a temporary suspension or some sort of waiver check. Most Hill Republicans oppose the tax holiday. But no gas tax holiday in RI. Gov. Dan Mackie says…
Ukraine aid, school taxes and federal prison
[ad_1] Ukraine’s aid passed through the Senate $40 billion in emergency aid The package approved by the Senate right on time. The Pentagon almost ended its funding for sending weapons to Ukraine. Eleven Republicans opposed the measure. The House passed the bill last week. There is no offset involved. Schumer and Manchin Are Talking Expenses and Taxes…Again, Senate Democratic Leader Chuck Schumer and Sen. Joe Manchin are reportedly talking again about some kind of social spending, climate and tax bill. The two have a good working relationship but only a…
Federal Budget Outlook, Booming Revenue, and Another Attempt at a State Tax Cut
[ad_1] CBO: The deficit will fall sharply this year, then rise again by 2024. Thanks to a booming economy, big increases in tax revenue, and end-of-pandemic relief, the federal budget deficit will shrink from $2.8 trillion to nearly $1 trillion in 2021, According to the Congressional Budget Office’s Annual Budget and Economic Outlook out tomorrow. But the relief will be temporary, with the deficit widening again by 2024 and remaining through the 10-year budget window. And the tax revenue is flowing, for now, The CBO expects revenue to grow 19…