by on December 20, 2017
Congressional Republicans delivered on their first major legislative accomplishment of the Trump era on Wednesday, when the House voted 224-201 to pass a $1.5 trillion tax package. The bill cuts individual rates for eight years and slashes the top corporate tax rate to 21 percent permanently. President Trump speaks about the passage of tax legislation on the South Lawn of the White House on Wednesday. The bill now goes to Trump for his signature, though it's not clear when he will sign...
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by on July 23, 2018
When it comes to social policy, President Trump embraces conservative politics as usual, continuing a nearly four-decades-long effort to make these policies more restrictive. Earlier this month, the White House Council of Economic Advisers called for more “welfare reform,” which would be accomplished by expanding work requirements for the Supplemental Nutrition Assistance Program (“food stamps”), Medicaid and rental housing assistance programs. Mr. Trump and his conservative allies in Con...
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by on December 15, 2017
The soaring price of bitcoin—the virtual currency is now worth more than $250 billion—has gotten a lot of attention in recent weeks. But the real significance of bitcoin isn't just its rising value. It's the technological breakthrough that allowed the network to exist in the first place. Bitcoin's still anonymous inventor, who went by the pseudonym Satoshi Nakamoto, figured out a completely new way for a decentralized network to reach a consensus about a shared transaction ledger. This innova...
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by on March 11, 2018
SEN. ELIZABETH WARREN told a gathering of progressive lawmakers Friday that seeing her colleagues vote to advance a Wall Street deregulation bill this week was a “stab in the heart.” This week, 16 Senate Democrats voted for the Economic Growth, Regulatory Relief, and Consumer Protection Act. It’s a cleverly misnamed bill that would peel back regulations on 25 of the 32 largest banks in the country, removing a slew of consumer protections while relaxing stress tests and other reporting requi...
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by on December 23, 2017
When Sandy Vierling took a job at a new robot-packed factory her company built just a few miles from an older plant where she made automotive exhaust systems, she crossed into the future of manufacturing in the United States. A job seeker departs the Dr. Martin Luther King Jr. career fair held by the New York State department of Labor in New York, April 12, 2012. REUTERS/Lucas Jackson She didn’t like it at all. Auto supplier Faurecia SA’s (EPED.PA) new plant - dubbed Columbus South to disting...
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by on September 13, 2018
Well before he was elected to the presidency, Donald Trump managed to go bankrupt four times. In each of these bankruptcies he had risked billions of dollars of other people’s money. But while they lost money, he managed to escape unscathed. The first time, when his Atlantic City gambling casino when bankrupt, Trump’s father bought millions of gambling chips and never redeemed them. Who bailed out Trump during his next three bankruptcies? In his op. ed. column in Monday’s New York Time...
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by on December 20, 2017
AT&T was quick to respond to news of U.S. tax reform, announcing it would give some employees bonuses once the legislation is signed into law. The telecom giant said in a press release Wednesday that it would give more than 200,000 of its U.S. workers who are union members a special bonus of $1,000. The company also increased its capital expenditures budget by $1 billion in the U.S. AT&T is paying bonuses of $1,000 to more than 200,000 U.S. employees. AT&T's CEO said...
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by on April 4, 2018
This weekend’s spending deal punted on fixing longstanding problems, thanks to the governor cutting a deal with Republicans. Sorry, kids, no campaign finance reform for you this year. In Albany, a budget is not simply a budget. It is a vast matrix, a behemoth stew, the mashup of unfathomable sums of money ($168 billion this year) and specific, often unrelated policies. Horses are not merely traded; they are herded and hidden and sometimes euthanized on a whim. For progressives...
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by on December 26, 2017
Do you really know what bitcoin is? Maybe it was those stories you heard — Lamborghinis and second mortgages, fortunes made and lost off of something you didn’t even really know existed until six months ago. Maybe it’s those eye-popping charts you keep seeing, the ones that go $5,800 per unit to $19,00 per unit in just one month … and the other ones that go in the opposite direction in just one week. Maybe all of your friends are constantly watching their phones, tracking their own invest...
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by on September 18, 2018
Inn this June 6, 2018, photo, Senior White House economic adviser Larry Kudlow speaks during a briefing at the White House in Washington. As the midterm elections draw closer, a variety of Republican leaders, cognizant of broad public support for social-insurance programs like Medicare and Social Security, have said it’s Republicans who are the true champions of the programs – reality be damned. Donald Trump went so far as to argue two weeks ago, “We’re saving Social Security; the Demo...
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by on February 3, 2018
2017 was a pivotal year for women, beginning with the historic marches that took place after Trump’s inauguration and continuing throughout the year with an unprecedented surge of women stepping up to run for office, organizing grassroots actions at a local level and supporting powerful movements, such as #MeToo, at a global level. We saw women everywhere become resolute, energized and acting as a collective transformative force, speaking out for justice, equality and change in our country and t...
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by on April 11, 2018
The City Council wants reduced fares for 800,000 low-income New Yorkers. Roughly 800,000 low-income New Yorkers would save $726 a year if a proposal by the New York City Council and advocates to fund half-priced Metrocards for the poorest New Yorkers is adopted as part of the city’s final budget. On Tuesday, the Council released its budget response to the Mayor Bill de Blasio’s preliminary budget, which he unveiled in February. The Council included $212 million in funding for Fair Fare...
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