Today, President Joe Biden spoke to the press, refusing to take questions not related to the economy and claiming he takes no blame for inflation.[0] He referenced lost jobs, lack of manufacturing, and “real economic difficulty” as the basis for the nation’s state that he inherited through his presidency.[1] Figures reported by the Bureau of […]
Continue readingTech and media layoffs have been making the headlines lately, but they only account for a small portion of the U.S. workforce at 5%. Other industries, such as auto, manufacturing, and financial services, have also been cutting jobs.[0] The Federal Reserve has also been slowing the economy down, leading to a deepening of the unemployment […]
Continue readingThe US, Japan, and the Netherlands have reached an agreement to restrict the export of advanced chip technology to China.[0] The goal of the agreement is to prevent China from developing its own domestic chip industry, as the three countries dominate the production of semiconductor manufacturing equipment.[0] According to Bloomberg, the agreement was reached on […]
Continue readingJeremy Siegel, a top economist from the Wharton School at the University of Pennsylvania, recently warned of a potential economic disaster if the Federal Reserve delivers a rate hike higher than the 25 basis-point increase that markets are expecting. Siegel noted that with so many people bearish on the market, the Fed needs to soften […]
Continue readingGovernor Wes Moore unveiled his proposed budget for fiscal 2024, a $63.1 billion plan that he calls a bold reflection of his priorities in education, transportation, and public safety without raising taxes.[0] The proposal includes a target Rainy Day Fund of 10 percent of general fund revenue or $2.5 billion and a higher-than-normal budgeted General […]
Continue readingGovernor Wes Moore recently unveiled a $63.1 billion fiscal 2024 budget proposal that does not include a tax increase, and maintains a Rainy Day Fund at 10 percent of General Fund revenue or $2.5 billion and a General Fund balance of $820 million.[0] Likewise, Nevada Governor Joe Lombardo also announced his preliminary FY 2024 budget […]
Continue readingGovernor Wes Moore of Maryland recently unveiled a $63.1 billion fiscal 2024 budget proposal that does not include a tax increase and maintains a Rainy Day Fund at the target level of 10 percent of General Fund revenue or $2.5 billion.[0] Meanwhile, Nevada Gov. Joe Lombardo announced his preliminary FY 2024 budget plan, which includes […]
Continue readingThe Employee Retention Credit (ERC) was created by the Coronavirus Aid, Relief and Economic Security (CARES) Act to help employers who were affected by the pandemic, and is available to businesses who have experienced either a full or partial suspension of operations due to a governmental order or a significant decline in gross receipts compared […]
Continue readingToday, businesses in the hospitality and services industry are leveraging a new payments platform, Grazzy, to improve employee retention and recruiting, increase wages, and provide a more inclusive financial wellness for hourly employees.[0] The platform was recently funded with $4.25MM in Seed funding from Next Coast Ventures and Tuesday Capital, bringing its total Seed funding […]
Continue readingThe Employee Retention Tax Credit (ERTC) was available during the pandemic to provide employers with relief from the economic hardships caused by the COVID-19 pandemic.[0] This tax credit helps employers reduce their employment tax burden and can be as high as $26,000 per employee. Eligible employers can claim the ERTC on their 2020 and 2021 […]
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