Economy News

Biden slams GOP plan to prolong Trump’s tax cuts for the rich

Article Summary – President Joe Biden has criticized a Republican proposal to extend tax cuts for the wealthy and big corporations, originally implemented under former President Donald Trump. In his own budget proposal, Biden has suggested increasing the Child Tax Credit, making Affordable Care Act tax credits permanent, expanding the

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Biden slams GOP’s plan to extend Trump’s tax cuts for rich

Article Summary – President Joe Biden has criticized a Republican proposal to extend tax cuts for wealthy individuals and large corporations, arguing that the tax code should not favor the wealthy. Biden’s own tax policies propose an increase in the corporate tax rate, the expansion of the Child Tax Credit

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Brown Battles for Reduced Insulin Costs in Toledo

Article Summary – U.S. Senator Sherrod Brown, has been advocating for lower insulin prices for all Ohioans. The Inflation Reduction Act, which Brown helped write and pass, has allowed for a monthly cap on the cost of insulin at $35, significantly lowering costs for Ohioans on Medicare. Brown continues to

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Bipartisan-backed student teacher stipend program now open

Article Summary – Pennsylvania’s Democratic Governor Josh Shapiro, along with bipartisan legislative leaders, have announced the opening of applications for the PA Student Teacher Support Program, aimed at addressing the state’s teacher shortage. The initiative will provide eligible student teachers with up to $15,000 in stipends, funded through Act 33,

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Biden ups drilling costs on public lands

Article Summary – The US Interior Department has finalized a rule making it more expensive for oil and gas producers to drill on federally owned lands, marking the first comprehensive update to the rules around drilling on federal lands since 1988. The rule includes provisions such as raising the rent

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IRS May Restrict Use of Additional ‘Modernization’ Funds

Article Summary – The Inflation Reduction Act allocated billions to the IRS for modernizing its information technology. However, the Government Accountability Office (GAO) found that the IRS has yet to complete its strategic operating plan, which lacks a roadmap for achieving their five strategic objectives, especially the one involving technology.

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NFL draft predicted to inject $160M+ into Detroit economy

Article Summary – The 2024 NFL draft will take place in downtown Detroit from April 25-27, the first time in the draft’s 88-year history. The event is expected to bring in over $160 million for local businesses and attract hundreds of thousands of fans to the city, according to an

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World’s Mushroom Capital Located in Pennsylvania

Article Summary – The borough of Kennett Square in Pennsylvania produces around 60% of all U.S. grown mushrooms, contributing significantly to the state’s agriculture sector. Mushroom farming in Pennsylvania began around 1885 and the industry now supports 9,500 jobs and contributes $2.7 billion annually to the local economy. Apart from

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‘Green Bank’ Continues U.S. Tradition – TriplePundit

Article Summary – The article discusses the proposed Clean Energy and Sustainability Accelerator, also known as the Green Bank, which is included in the Biden administration’s American Jobs Plan. The Green Bank, which is expected to provide $100 billion in investments over 10 years for clean energy and climate-related projects,

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