We are going in depth into the proposed federal gas tax holiday, looking at how much you could save at the pump if it gets approved.
Four of the five fingers of death are squeezing the global economy, which is causing one economist to warn of a substantial recession
- KCRA - Sacramento Videos
23 million Californians to get 'inflation relief' payments after budget deal struck, state leaders say
Millions of California taxpayers will get “inflation relief” tax rebate payments after lawmakers have reached an agreement on the framework of the 2022-23 budget. The deal also suspends the state's sales tax on diesel. “The centerpiece of the agreement, a $17 billion inflation relief package, will offer tax refunds to millions of working Californians," said a joint statement from Gov. Gavin Newsom, Senate President pro Tempore Toni Atkins and Assembly Speaker Anthony Rendon on Sunday night.
- Motley Fool
Now last year, when Americans were struggling due to high levels of unemployment, lawmakers stepped in with a round of federal stimulus checks. In fact, based on a recently agreed-upon budget deal, California households will soon be in line for up to $1,050 in stimulus funds. California drivers are facing the highest gas prices in the country, and many parts of the state are notably expensive due to sky-high housing costs.
The U.S. may or may not see a recession in the next year or two, top economists contend. But one thing is certain: Stagflation is real, and it's here in the U.S. That's what Mohamed El-Erian, economist and president of Queens' College at Cambridge University, told Yahoo Finance in a recent interview.
- LA Times
What will I get from California's $9.5 billion gas tax relief plan? What you need to know
- The Fiscal Times
Social Security’s annual cost of living adjustment for 2023 will be the highest in four decades, according to projections from the Committee for a Responsible Federal Budget. While benefits this year were boosted by 5.9%, the adjustment for next year is projected to be between 7.3% and 10.8%, depending on the path of inflation. The final number is likely to be somewhere in the middle, and could be one of the highest increases ever. Social Security bases its cost of living adjustments on changes
The Federal Reserve has raised the fed funds rate target by 150 basis points since March, and many experts expect a lot more.
At the onset of the coronavirus pandemic, the American economy immediately fell into recession, with unemployment spiking to 14.8%, the highest since records began in 1948. In response, the U.S....
- Yahoo Finance
The Bank of America (BofA) Institute finds that America's middle class are hurt the most from soaring inflation.
- The Hill
Three-quarters of Americans rate the current condition of the economy as fairly bad or very bad, and a majority are concerned about their ability to afford day-to-day expenses, according to a new CBS News-YouGov poll. The proportion of Americans who view the state of the economy as fairly bad or worse has grown for each…
- The Telegraph
The global economy has reached a “tipping point” where it may be impossible to stop runaway inflation, the world’s top central banker warned, as the war in Ukraine and a US slowdown leaves Britain on the brink of recession.
(Bloomberg) -- German Chancellor Olaf Scholz used a meeting with Canadian Prime Minister Justin Trudeau to push for closer energy ties as his ruling coalition in Berlin races to find alternatives to Russian fossil fuels.Most Read from BloombergRussia Slips Into Historic Default as Sanctions Muddy Next StepsA $2 Trillion Free-Fall Rattles Crypto to the CoreHyundai Quietly Climbs the EV Sales Charts and Elon Musk NoticesJan. 6 Panel Sets Surprise Hearing as New Evidence EmergesRep. Mary Miller Cal
While Washington fixates on the Biden administration’s talk of a gas-tax holiday, other ideas are circulating to lower gasoline prices and curb inflation.
After a booming recovery in 2021 as America emerged from the lockdowns of the pandemic, the economy in 2022 is at a crossroads. Massive stimulus packages passed by Congress in 2020 and 2021 helped...
The swiftness with which the coronavirus pandemic wiped out the U.S. economy in early 2020 was breathtaking. Seemingly overnight, the U.S. unemployment rate shot up to an all-time record of 14.7% in...
It only took 24 hours last month for Prime Minister Narendra Modi's government in India - the world's second-largest producer of wheat - to shelve its plans to "feed the world". In April, Modi had said publicly that the world's most populous democracy was ready to fill part of the gap left by Ukraine in global grains markets by increasing its wheat exports, following five consecutive record harvests. India traditionally exports only a modest amount of wheat, retaining most of its crop for domestic consumption.
(Bloomberg) -- In Tokyo’s financial circles, the trade is known as the widow-maker. And while it has done nothing but saddle young, cocksure investors from London to New York with crippling losses over the past two decades — ergo the name — they’re lining up once again to take a shot.Most Read from BloombergRussia Slips Into Historic Default as Sanctions Muddy Next StepsA $2 Trillion Free-Fall Rattles Crypto to the CoreMichael Burry of ‘The Big Short’ Fame Warns Fed May Alter CourseAnti-Abortion
In 2020, Richmond voters approved Measure U that raised taxes for some businesses more thn 100-fold. With the first tax bill coming due, John Ramos tells us some say they want to leave.
Most California taxpayers would get hundreds of dollars in cash to help offset the high price of fuel and other goods under a tentative budget compromise being discussed by legislative leaders and Gov. Gavin Newsom.
Citigroup analysts have cut their S&P 500 target for 2022 by 500 points after stubbornly high inflation spurred the Federal Reserve to aggressively raise interest rates.