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Category: Economy

The US Economy

Boeing offers second volunteer layoff package to employees
Posted inEconomy

Boeing offers second volunteer layoff package to employees

USNN World Newsby USNN World NewsAugust 18, 2020August 18, 2020
Uber, Lyft denied extension to make drivers employees in California
Posted inEconomy

Uber, Lyft denied extension to make drivers employees in California

USNN World Newsby USNN World NewsAugust 17, 2020March 5, 2025
Peter Navarro on stalled coronavirus relief plan: Reaching a deal 'should be easy'
Posted inEconomy

Peter Navarro on stalled coronavirus relief plan: Reaching a deal ‘should be easy’

USNN World Newsby USNN World NewsAugust 16, 2020August 16, 2020
Stocks slide after Congress breaks with no COVID-relief deal
Posted inEconomy

Stocks slide after Congress breaks with no COVID-relief deal

USNN World Newsby USNN World NewsAugust 14, 2020August 14, 2020
Number of Americans filing for unemployment falls below 1M for first time since pandemic started
Posted inEconomy

Number of Americans filing for unemployment falls below 1M for first time since pandemic started

USNN World Newsby USNN World NewsAugust 13, 2020June 20, 2024
Trump says Democrats' mail-in ballot push holding up coronavirus stimulus package
Posted inEconomy

Trump says Democrats’ mail-in ballot push holding up coronavirus stimulus package

USNN World Newsby USNN World NewsAugust 13, 2020March 26, 2025
Trump Mulls Capital Gains and Middle-Income Tax Cuts to Revive Economy
Posted inEconomy

Trump Mulls Capital Gains and Middle-Income Tax Cuts to Revive Economy

USNN World Newsby USNN World NewsAugust 11, 2020June 4, 2025
PPP responsible for 'majority' of jobs created since May, SBA administrator says
Posted inEconomy

PPP responsible for ‘majority’ of jobs created since May, SBA administrator says

USNN World Newsby USNN World NewsAugust 10, 2020June 20, 2024
Trump payroll tax executive order likely worth $1,200 per worker: Kudlow
Posted inEconomy

Trump payroll tax executive order likely worth $1,200 per worker: Kudlow

USNN World Newsby USNN World NewsAugust 9, 2020August 9, 2020
Canada slaps back at new Trump tariffs with $2.7B in aluminum duties
Posted inEconomy

Canada slaps back at new Trump tariffs with $2.7B in aluminum duties

USNN World Newsby USNN World NewsAugust 8, 2020August 8, 2020
Trump orders $400 weekly unemployment payments amid COVID crisis, accuses Dems of stonewalling
Posted inEconomy

Trump orders $400 weekly unemployment payments amid COVID crisis, accuses Dems of stonewalling

USNN World Newsby USNN World NewsAugust 8, 2020October 14, 2024
President Trump will sign executive orders Saturday aimed at delivering relief to Americans struggling with the economic fallout of the coronavirus pandemic, Fox News has learned. Trump is expected to announce the presidential action during a 3:30 p.m news conference at Trump National Golf Club Bedminster, N.J., before heading to the Hamptons for fundraising events. Trump blamed Democrats Friday for the coronavirus deal stalemate in Congress and said he'd take matters into his own hands. Earlier this week, he previewed executive orders that would extend enhanced federal unemployment benefits, suspend payroll taxes until the end of the year, extend a moratorium on evictions and help with student loan payments. TRUMP SAYS CORONAVIRUS RELIEF EXECUTIVE ORDER COULD COME BY THE END OF THE WEEK 'IF DEMOCRATS CONTINUE TO HOLD RELIEF HOSTAGE' “The president is taking action to provide relief to unemployed Americans, among other actions to provide relief," a senior administration official told Fox News Saturday. Acting unilaterally has its limits and could prompt legal challenges. Trump's orders are narrower in scope than the trillions of dollars Congress is mulling for a massive stimulus to the virus-damaged economy. Congress controls new federal spending and Trump already predicted sidestepping lawmakers will have consequences. “We’ll see, yeah, probably we’ll get sued," Trump told reporters Friday. House Democrats already passed their $3 trillion coronavirus relief bill in May. The Senate GOP last month proposed a $1 trillion plan, though didn't bring the measure to a vote as Republicans were divided on whether more aid is even needed. placeholder DESPITE POLLS AND PANDEMIC, TRUMP CAMPAIGN ARGUES CANDIDATE BETTER POSITIONED THAN IN 2016 House Speaker Nancy Pelosi and Senate Democratic Leader Chuck Schumer have been in talks all week with White House Chief of Staff Mark Meadows and Treasury Secretary Steven Mnuchin, but the two sides couldn't strike a deal. Democrats blamed the GOP for failing to understand the gravity of the crisis and for trying to "nickel and dime" struggling Americans, while the White House accused Democrats of not willing to compromise. Trump's actions aren't expected to address some of the big issues that Congressional proposals sought to tackle, including another round of $1,200 stimulus checks, aid to schools to reopen safely, an infusion of cash to revenue-strapped state and local governments, food assistance, new lawsuit protections for businesses and money for mail-in voting for the 2020 elections. Because of provisions in the Constitution that grant the legislative branch spending power, the White House can't just pull hundreds of billions out of the ether without Congressional approval. PELOSI SAYS DEMOCRATS WILLING TO COMPROMISE AT $2T FOR CORONAVIRUS BILL, REJECTED BY TRUMP ADMIN But the Trump administration believes it has access to $140 billion which it can “reprogram.” That includes $80 billion in untapped money from the big coronavirus bill signed into law in March and $40 billion from the Disaster Relief Fund. placeholder The White House believes it can divert some of this funding without congressional blessing, similar to how Trump in 2019 declared a national emergency at the border with Mexico to shift billions of dollars from the Pentagon budget to help pay for a border wall. Pelosi and Schumer earlier this week expressed skepticism about Trump's executive powers. "You can't move that much money," Pelosi said. "We're talking about a major investment." GOP OFFICIALS PREVIEW ‘EPIC’ TRUMP ADDRESS, FIRST FAMILY ROLE IN EVOLVING CONVENTION PROGRAM The Democrats want the White House to continue negotiating with Congress on a big package. "A better way to do this is [to] come to an agreement that meets the needs of the American people -- a much better way," Schumer said. The need for relief is pressing as millions of Americans lost out on the $600-per-week federal unemployment benefit that expired at the end of July. A partial moratorium on evictions on properties with government-backed mortgages also expired at the end of last month. placeholder There are some 110 million Americans living in rental households; up to 23 million renters – or 20 percent – are at risk of eviction by Sept. 30, according to an analysis by the COVID-19 Eviction Defense Project. With the supplemental $600 in unemployment benefits now officially lapsed, about 24 million Americans say they have little to no chance of being able to pay next month's rent, according to a survey by the U.S. Census Bureau. CLICK HERE TO GET THE FOX NEWS APP Rent and mortgage payments are typically the largest monthly expense for Americans: One in four tenant families pays more than half of its income for rent, a rate that’s even higher in cities like San Francisco and New York, according to Harvard’s Joint Center for Housing Studies. New jobless figures from the Labor Department, which cover the week ending August 1, show that more than 1.18 million workers sought aid last week, the lowest since March 14. The latest figures bring the total number of unemployment claims since the shutdown began to more than 55 million. The unemployment rate fell to 10.2%, down from 11.1% in June. Fox News' Mark Meredith, John Roberts, Jon Decker, Chad Pergram, Brooke Singman and Megan Henney contributed to this report.
Posted inEconomy

Trump to sign coronavirus relief executive orders Saturday to help unemployed Americans, others

USNN World Newsby USNN World NewsAugust 8, 2020August 8, 2020

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NATIONAL NEWS

  • Trump Admin Will Explore Ways to Acquire Bitcoin for Strategic ReserveTrump Admin Will Explore Ways to Acquire Bitcoin for Strategic Reserve
    By Emel Akan WASHINGTON—President Donald Trump said on March 7 that his administration is exploring ways to invest in bitcoin for the national strategic reserve, ...
  • House Republicans Unveil Funding Resolution, Trump Voices SupportHouse Republicans Unveil Funding Resolution, Trump Voices Support
    By T. J. Muscaro House Republicans revealed a Trump-approved spending bill on March 8 that lays out a plan to keep the federal government and ...
  • Trump Administration Cancels Grants Worth $400 Million for Columbia UniversityTrump Administration Cancels Grants Worth $400 Million for Columbia University
    By Jack Phillips The Trump administration on Friday announced it has canceled grants worth roughly $400 million for Columbia University, alleging the Ivy League school ...
  • Georgia Senate Passes Bill Allowing Trump and Allies to Recover Costs of 2020 Election CaseGeorgia Senate Passes Bill Allowing Trump and Allies to Recover Costs of 2020 Election Case
    By Bill Pan Georgia’s Senate has approved a bill that could allow President Donald Trump and his allies to get compensated for legal fees in ...
  • Gene Hackman Died of Heart Disease; Wife Died of Hantavirus About 1 Week Prior: AuthoritiesGene Hackman Died of Heart Disease; Wife Died of Hantavirus About 1 Week Prior: Authorities
    By Jack Phillips Authorities said Friday that actor Gene Hackman died of Alzheimer’s and heart failure a week after his wife died of hantavirus, a ...
  • Trump Pauses Tariffs on Mexico Until April 2Trump Pauses Tariffs on Mexico Until April 2
    By Emel Akan WASHINGTON—President Donald Trump said on March 6 that he would pause his 25 percent tariff for Mexican goods and services that are ...
  • 12 Takeaways From Trump’s First Major Policy Speech to Congress12 Takeaways From Trump’s First Major Policy Speech to Congress
    By Lawrence Wilson, Joseph Lord, Travis Gillmore and Sam Dorman WASHINGTON—President Donald Trump capped off his first six weeks in office with a 100-minute speech ...
  • Trump Says Canada’s Retaliatory Tariffs Will Be Met With Reciprocal TariffsTrump Says Canada’s Retaliatory Tariffs Will Be Met With Reciprocal Tariffs
    By Noe Chartier President Donald Trump has reacted to Canada’s decision to enter a trade war with the United States by imposing counter-tariffs, saying this ...
  • Bondi Vows to Release ‘Everything’ Related to Epstein, Says She Was MisledBondi Vows to Release ‘Everything’ Related to Epstein, Says She Was Misled
    By Jack Phillips Attorney General Pam Bondi provided more details on the controversy around a release of files related to convicted sex offender Jeffrey Epstein, ...
  • Trump Says ‘No Room Left’ for Canada, Mexico to Avoid 25 Percent Tariffs Coming March 4Trump Says ‘No Room Left’ for Canada, Mexico to Avoid 25 Percent Tariffs Coming March 4
    By Matthew Horwood President Donald Trump says 25 percent tariffs will be levied against Canada and Mexico on March 4, and added there is “no ...
  • House Speaker: Zelenskyy May Have to Step Down Over White House SpatHouse Speaker: Zelenskyy May Have to Step Down Over White House Spat
    By Jack Phillips House Speaker Mike Johnson (R-La.) said on March 2 that Ukrainian President Volodymyr Zelenskyy may have to resign in the wake of ...
  • Social Security Administration Says It Plans to Lay Off 7,000 WorkersSocial Security Administration Says It Plans to Lay Off 7,000 Workers
    By Aldgra Fredly The Social Security Administration (SSA) said on Friday that it is planning to lay off about 20 percent of its workforce, or ...
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