Lawmakers working with $188.2 billion budget
Panel discusses the upcoming rebate many Texas will see from the $33 billion dollar budget surplus and Gov. Abbott going after his favorite targets.
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MoneyWiseOff the beaten track: Searching for a better life has Americans on the move — and these are the top 5 states they abandoned in 2022
They can't wait to get back on the road again.
- Motley Fool
This Recession Indicator Has Been Foolproof for 70 Years: Here's What It Says Happens Next
When the curtain closed on 2022, the iconic Dow Jones Industrial Average (DJINDICES: ^DJI), benchmark S&P 500 (SNPINDEX: ^GSPC), and technology-dependent Nasdaq Composite (NASDAQINDEX: ^IXIC) all entered respective bear markets and produced their worst returns since 2008. The abysmal performance of these core stock indexes has a lot of investors asking whether a U.S. recession is unavoidable. Unfortunately, there is no crystal ball that allows us to look into the future and know with concrete certainty whether a recession is coming.
- Detroit Free Press
Gov. Whitmer, Democratic leaders want to send 'inflation relief' checks to all taxpayers
The size of the checks and when they would be sent out was not specified in a Friday news release from Gov. Gretchen Whitmer and legislative leaders.
- Motley Fool
Social Security's 2024 COLA Could Easily Be Zero. Here's How
After a massive increase to benefits in 2023, reversals in consumer prices could leave seniors without a raise next year.
- Detroit Free Press
Michigan cable subscribers continue to cut the cord, move to streaming services
With the exception of a slight increase in 2021, Michigan cable operators have seen a steady decline in customer subscriptions since 2016.
- Fox Business
Tesla reverses Model Y price cut after demand surge, Biden's expansion of electric vehicle tax credits
Tesla has reversed course on price cuts to its Model Y line this month after the U.S. Treasury announced loosened restrictions on electric vehicle credits.
- Fortune
Employers are suffering from ‘pandemic paranoia’ and they’re scared to let go of workers, according to a global staffing firm
“Pandemic paranoia has set in with employers who remember how hard it was to bring back workers,” Becky Frankiewicz, president of ManpowerGroup, says.
- Reuters
Tesla raises Model Y prices by $1,000 after U.S. relaxes tax credit terms
Tesla increased the price of the Model Y Long Range to $54,990, and the Model Y Performance to $57,990, an increase of $1,000 each, according to current and previous prices posted on its website. The models remain 15% and 17% cheaper, respectively, than they were before Tesla slashed prices last month to stoke demand, before accounting for the $7,500 tax credit buyers now qualify to receive. In a reversal, the Treasury Department ruled on Friday that crossovers like the Model Y would qualify for electric vehicle tax credits as long as they were priced below $80,000.
- LA Times
Back to having no basics: Iranians tighten belts as the economy tanks and protests continue
Iranians are finding it harder than ever to afford even basic goods as political unrest roils the country and the government cracks down harshly.
- Fox News
The realities of a balanced budget highlight Congress' dishonesty on the issue
"It’s totally unrealistic to assume that you can balance the budget and not touch Social Security, Medicare," a fiscal watchdog tells Fox as Congress debates the debt ceiling
- MoneyWise
The US government hit its $31.4 trillion debt ceiling last month — triggering fears of a nasty fallout for Americans. Here are 3 ways it could hurt you
Are you prepared for “extraordinary measures”?
- ABC News
Why the job market is booming despite high-profile layoffs
The job market is booming despite high-profile layoffs at companies like Amazon, Microsoft, Twitter and Goldman Sachs. The economy added a staggering 517,000 jobs in January, more than double the employment growth a month prior and well above the breakneck pace of some 400,000 monthly jobs added on average last year, according to government data released on Friday. In turn, the unemployment rate fell to 3.4%, the lowest figure since 1969.
- GOBankingRates
Home Renovation Costs: What Experts Expect in 2023
Perhaps you're thinking about completing a few home renovation projects this year, but you're afraid you might not be able to afford them. Between inflation and supply shortages, prices for these...
- Barrons.com
The Stock Market Stopped Worrying About the Jobs Report. Here’s Why.
The U.S. added more than twice as many jobs as expected, indicating the economy is powering ahead despite the Fed's efforts to slow it down.
- The Hill
Treasury Department expands definition of SUVs eligible for electric vehicle tax credit
The Biden administration will expand eligibility for an Inflation Reduction Act-enabled tax cut for electric vehicles, the Treasury Department announced Friday. The department has updated the classification standards used to determine eligibility, expanding the definition of an SUV. The $7,500 tax credit applies to SUVs costing up to $80,000, but there is no such benefit…
- CoinDesk
Bitcoin Falls After Jan. Jobs Report; Charlie Munger Hasn't Taken the Time to Study Bitcoin: Michael Saylor
Bitcoin (BTC) fell after the U.S. economy added 517,000 jobs in January, massively beating economist forecasts of 185,000. CoinDesk Co-Regional News Chief for the Americas Stephen Alpher discusses bitcoin's reaction to the jobs report and Federal Reserve's interest rate hike earlier in the week. Plus, CoinDesk Editor at Large Christie Harkin explains how the debut of the Ordinals protocol, which stores non-fungible tokens (NFT) on the Bitcoin blockchain, has created a major debate in the community.
- Bloomberg
Here’s What Keeps Morgan Stanley’s Jim Caron Up at Night
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DeSantis Eyes $200 Million Raise for Florida Teachers; Educators Say Not Enough
Gov. Ron DeSantis has touted a plan to earmark $1 billion towards raising public school teacher pay, calling it a “big win” for Florida’s teachers. But a statewide teacher union was skeptical about the amount of the pay hike — $200-million across school districts — which may not help the lives of struggling teachers. The […]
- GOBankingRates
How To Know Whether Another Stimulus Check Will Be Hitting Your Bank Account
Although 2022 was the first year since the pandemic without federal stimulus, states across the country distributed payments to their residents last year through their own initiatives. Some payments...
- Associated Press
State of the Union: Biden sees economic glow, GOP sees gloom
Going into Tuesday's State of the Union address, President Joe Biden sees a nation with its future aglow. Republicans take a far bleaker view — that the country is beset by crushing debt and that Biden is largely responsible for inflation. The harder reality is that the United States is on a tight rope, trying to balance efforts to reduce inflation with the need to stay upright and avoid falling into a recession.