Wednesday, October 27, 2021
Home > Politics

Democrats’ plan may raise childcare costs for some middle-class families

Photo by Mike Kline (notkalvin) | Moment | Getty ImagesA package of social reforms Democrats are hashing out on Capitol Hill would pump federal money into the U.S. childcare system, with the aim of improving pay for workers and making care more accessible and affordable for all Americans.While the

Read More

Trump’s social media SPAC surges another 100% after shares quadruple

The social media app will be developed by Trump Media and Technology Group (TMTG).Rafael Henrique | LightRocket | Getty ImagesSPAC stands for special purpose acquisition company, which raises money on the public markets with a goal of merging with a private company and taking it public within two years.

Read More

Biden’s pick to run a key bank regulator runs into Democratic resistance in the Senate

Saule OmarovaUnited States Committee on Banking, Housing and Urban AffairsPresident Joe Biden's pick to run one of Washington's most important banking industry regulators might not have enough support for confirmation in the Senate.Senate Democrats are fractured over whether to support Saule Omarova, Biden's indicated choice to lead the Office

Read More

Here’s why Democrats’ proposed elimination of Roth conversions for the wealthy doesn’t start until 2032

Photo by Mike Kline (notkalvin) | Moment | Getty ImagesHouse Democrats proposed a rule to forbid Roth conversions for the wealthy as part of a broad package of tax increases on affluent Americans.But there's an irony in the proposal, according to tax experts.A Roth conversion is a mechanism that

Read More

SEC says brokers enticed by payment for order flow are making trading into a game to lure investors

Rafael Henrique | LightRocket | Getty ImagesThe Securities and Exchange Commission said online brokerages, enticed to increase revenue through the controversial industry practice of payment for order flow, are turning stock-trading into a game in order to encourage activity from retail investors.Wall Street's main regulator on Monday released its highly

Read More

Klarna strengthens credit checks in the UK as regulators crack down on ‘buy now, pay later’

The Klarna logo displayed on a smartphone.Rafael Henrique | SOPA Images | LightRocket via Getty ImagesLONDON — Swedish fintech firm Klarna on Monday said it is introducing a number of changes to its product in the U.K., as regulators in the country prepare to tighten regulation on the fast-growing

Read More

How Biden’s $3.5 trillion economic plan compares to LBJ’s Great Society and FDR’s New Deal

Anna Moneymaker | Getty Images News | Getty ImagesPresident Joe Biden's $3.5 trillion economic agenda — and the social spending it would usher in — has few parallels in modern U.S. history.The New Deal era of the 1930s and the Great Society of the 1960s are its closest comparisons,

Read More

Here’s how many people pay the estate tax

Jodi Jacobson | E+ | Getty ImagesHouse Democrats proposed a change to the estate tax that would lead to more households having to pay up each year.But just how many people actually pay the tax, and how might the proposal change that share?The short answers: Few people pay it

Read More

Congress must raise the debt limit by Oct. 18, Treasury Secretary Yellen warns in new letter as potential default looms

U.S. Treasury Secretary Janet Yellen testifies before the Senate Appropriations Subcommittee on Financial Services about the FY22 Treasury budget request on Capitol Hill in Washington, DC, June 23, 2021.Greg Nash | Pool | ReutersTreasury Secretary Janet Yellen on Tuesday told House Speaker Nancy Pelosi that Congress has just under

Read More

Market bull issues 10% correction warning, blames inflation fallout and Washington policy uncertainty

Long-time market bull Phil Orlando is delivering a 10% correction warning.Federated Hermes' chief market strategist warns that uncertainty surrounding fiscal and monetary policies will prevent the market from breaking out of its recent rut."There could be another shoe to drop over the course of the next five weeks or

Read More