Economic Indicators

The number of people seeking bankruptcy during the pandemic fell sharply last year as government aid propped up income and staved off housing and student-loan obligations.

The Senate voted this week to extend the Paycheck Protection Program for two months amid concerns that the March 31 expiration of the small-business rescue fund could leave struggling employers without a key economic lifeline.

The IRS already delayed the main April 15 tax-filing deadline by one month, but some accounting groups say that Americans still reeling from the coronavirus pandemic need more time to submit their returns.

Consumers' spending and personal incomes both fell sharply in February as severe winter storms disrupted shopping in many parts of the country and the government wrapped up distribution of $600 relief payments.

About 30 million Social Security recipients who are still waiting to receive their third stimulus check could see the money arrive soon. 

The IRS said Friday the purchase of personal protective equipment used to combat the spread of COVID-19, including face masks and hand sanitizer, are tax-deductible medical expenses.  

Sen. Elizabeth Warren traded barbs with Amazon in a fiery Twitter exchange after she accused the e-commerce behemoth of exploiting loopholes and offshore havens to avoid paying its "fair share" in taxes.

Investors will be watching for the latest income & spending numbers, along with consumer sentiment

Sen. Joe Manchin, a key centrist Democrat, said this week that he supports a multitrillion-dollar infrastructure package that would be paid for in part by raising taxes. 

President Biden said Thursday that he will travel to Pittsburgh next week to announce details of his multitrillion-dollar infrastructure bill, a sweeping measure that's expected to include funds for roads and bridges, as well as address issues like climate change and income inequality. 

President Biden held his first press conference on Thursday, where he addressed a number of topics during roughly an hour-long event – but also missed quite a few.

President Biden called Chinese President Xi Jinping a "smart, smart guy" during his Thursday press conference, even as he vowed to hold Beijing accountable for a multitude of human rights abuses and unfair trade practices.

Sen. Bernie Sanders on Thursday renewed his push to hike taxes on wealthy Americans, unveiling a pair of proposals that would dramatically raise the rates paid by corporations and the top sliver of U.S. households.

The IRS sent out a second batch of stimulus checks this week, delivering payments to another 37 million Americans as part of President Biden's $1.9 trillion American Rescue Plan.  

Shares are rebounding after Wednesday's broad, late day decline led by selling of tech heavyweights

Sen. Elizabeth Warren's plan to tax the net worth of the wealthiest Americans could reduce U.S. economic growth by 1.2% over the next 30 years, according to a new analysis published this week. 

The IRS has already delivered a third round of stimulus checks to 90 million Americans — but not everyone has gotten the full payment for which they're eligible. 

Treasury Secretary Janet Yellen said Wednesday the U.S. government has more room to borrow, but acknowledged that higher taxes will likely be needed to pay for those future expenditures.  

More Americans are eligible to take advantage of a tax break on unemployment benefits under new guidance issued this week by the IRS.

The richest 1% of Americans dodge significantly more in income taxes than the Internal Revenue Service previously estimated, according to a new study released this week.