Revenue commissioner Paul Marquart talks tax proposal
Revenue Commissioner Paul Marquart on Sunday talks about new tax proposals amid a $17 billion budget surplus.
Revenue Commissioner Paul Marquart on Sunday talks about new tax proposals amid a $17 billion budget surplus.
It’s a tradition that stretches back to the 19th century — with pioneers headed west in search of gold and silver.
A century of Swiss exceptionalism is ending with shocking speed. Everything is going wrong at once.
Hong Kong held on to its fourth-place ranking globally in the latest study of the world's leading international financial centres, as the city's economy continues to recover from three years of Covid-19 restrictions. The city ranked fourth in the 33rd edition of the semi-annual Global Financial Centres Index, produced by the China Development Institute in Shenzhen and the London think tank Z/Yen Partners. New York was No 1 financial centre, followed by London and Singapore. Financial industry ex
Sweeping new rules regarding layoffs in the Garden State go into effect on April 10, a day after Bed Bath & Beyond finishes a batch of job cuts there.
(Bloomberg) -- House Republicans are finalizing a formal list of spending cuts they’ll demand from President Joe Biden in exchange for their support for raising the US debt ceiling, Budget Committee Chair Jodey Arrington told reporters. Most Read from BloombergDeutsche Bank Drops in Selloff Citi Describes as Irrational‘Zoom Towns’ Exploded in the Work-From-Home Era. Now New Residents Are Facing LayoffsRussia Seeks 400,000 More Recruits as Latest Ukraine Push StallsJack Dorsey’s Wealth Tumbles $5
St. Louis Fed president Bullard told Bloomberg Friday he fears '70s-style inflation will hit the global economy if the Fed changes its inflation target.
The Fed is still fighting last year’s war against inflation. It needs to pivot fast
House Republicans said Thursday that they are preparing a “term sheet” of conditions they want met by the President Joe Biden and congressional Democrats before they agree to raise the federal borrowing limit and avert what would be a calamitous debt default. Rep. Jodey Arrington (R-TX), the chair of the House Budget Committee, told reporters that Republicans are finalizing a list of spending cuts they will demand and that Speaker Kevin McCarthy (R-CA) has prioritized finishing that “deal sheet”
Republicans say the bill will reduce errors and lower costs for the state, while Democrats say it will be harder for Iowa families to get benefits.
"We lost sight of something critical: we lost sight of how we grow our economy in a sustainable and inclusive fashion," Mohamed El-Erian said.
India's current account deficit is likely to have improved in the final quarter of 2022 from a nine-year high in July-September as the goods trade gap moderated and net services exports rose, a Reuters poll found. The median forecast of 22 economists polled March 16-23 showed a current account deficit of $23.0 billion in October-December 2022, or 2.7% of gross domestic product (GDP). More than half of the expected narrowing is due to a reduction in the goods trade deficit, suggesting weakening domestic demand in Asia's third-largest economy.
Like a number of other public transportation systems around the country, New York’s Metropolitan Transportation Authority is struggling as ridership still has yet to return to pre-pandemic levels. In an attempt to come up with more funding for the MTA, New York governor Kathy Hochul has proposed a $700 million payroll tax increase. But Democrats in the state legislature aren’t happy with that proposal, so they’re looking for alternatives, including possibly taxing people’s Netflix subscriptions.
The number of Americans filing new claims for unemployment benefits edged down last week, showing no signs yet that the recent financial market turbulence following the failure of two regional banks was having an impact on the economy. The unexpected dip in claims reported by the Labor Department on Thursday suggested March could be another month of solid job growth. The weekly unemployment claims report is the most timely data on the economy's health.
A new survey reveals a more cautious C-suite.
WASHINGTON (Reuters) -U.S. House Republicans are working on a "term sheet" of conditions they would want Democrats to agree to before voting to raise the government's $31.4 trillion debt ceiling, which would be necessary to avert a historic default that could shake the economy. House Budget Committee Chairman Jodey Arrington said on Thursday that Republicans are closing in on a "package of reforms" including spending cuts that could pass the House of Representatives with bipartisan support and win the signature of President Joe Biden. Biden maintains that Democrats will not negotiate on the debt ceiling, which needs to be raised to cover spending and tax cuts previously authorized by Congress.
Banks will lend more cautiously as rising interest rates hit their portfolios and the threat of bank runs lingers, Sonders said.
The International Monetary Fund gave a grim assessment Thursday of Lebanon’s prospects for getting out of its deepening financial crisis, saying that without reforms, the country is headed for hyperinflation. Since late 2019, tiny Lebanon has fallen into the worst economic crisis in its modern history, rooted in decades of corruption and mismanagement by a political class that has ruled the country since the end of the 1975-90 civil war. Three-quarters of Lebanon’s population of over 6 million, including a million Syrian refugees, now lives in poverty and inflation is soaring.
The Washington Supreme Court on Friday upheld the state's new capital gains tax, which was adopted by lawmakers in an effort to balance what is considered the nation's most regressive tax code. In a 7-2 decision, the justices found the tax to be an excise tax — not a property tax, which the state Constitution limits to 1% annually, or an income tax, which Supreme Court decisions dating to the 1930s have found unconstitutional. “For 134 years, Washington state has been waiting for the day when a fairer tax system came about, one where working people were not carrying an inequitable share of the burden," Gov. Jay Inslee, a Democrat, said in a statement.
Gov. Newsom's proposal to make California's film tax credit refundable is a leverage point for lawmakers who want to see greater diversity in Hollywood.
(Bloomberg) -- Fed up with life as a truck driver, Ermek reckoned it was worth paying about $2,000 in travel and visa fees for a job on a farm in the UK. What the 26-year-old from Kyrgyzstan didn’t expect was to be picked up at the airport, dropped in the English countryside after midnight and then given three days to master strawberry picking. He was fired after a month. Most Read from BloombergDeutsche Bank Slumps in Resurgence of European Bank WorriesUBS Sends Khan to Stem Credit Suisse’s Pri