U.S. Economy

A group of moderate Senate Republicans is drafting a scaled-back infrastructure proposal, an opening salvo as they seek to strike a deal with President Biden on a package more narrowly targeted in scope.

A fresh round of stimulus checks and the accelerated rollout of coronavirus vaccines sent retail sales surging in March as American consumers returned to stores and restaurants.

Federal Reserve Chairman Jerome Powell warned again that cyber threats are the biggest unknown for the US financial system.

The U.S. budget deficit ballooned to a record $1.7 trillion in the first half of the fiscal year as a third round of stimulus checks included in President Biden's coronavirus relief package sent federal spending skyrocketing.

A majority of the nation's top CEOs agree that President Biden's plan to raise the corporate tax rate in order to pay for his nearly $2.3 trillion spending proposal will hurt business competitiveness and slow wage growth.

Economists expect growth to slow to 3.2% next year, which would still make 2021-22 the strongest two-year performance since 2005.

The IRS sent out a fourth batch of stimulus checks this week, delivering payments to another 25 million Americans as part of President Biden's $1.9 trillion American Rescue Plan.

President Biden on Wednesday said he is willing to lower the proposed corporate tax increase included in his nearly $2.3 trillion spending proposal amid pushback from Republicans and some moderate Democrats.

The IRS said Wednesday that has delivered stimulus checks to millions of Social Security recipients and other lower-income Americans in the third round of payments under President Biden's American Rescue Plan. 

The Biden administration on Wednesday released its wide-ranging plan to raise taxes on corporations and enforce stricter policies in order to finance President Biden's $2.25 trillion economic spending proposal.   

JPMorgan Chase CEO Jamie Dimon called on companies to get more involved in policy-making issues, writing in his annual shareholder letter that it's critical for businesses to act as a "responsible community citizen."

A new analysis published Wednesday shows that Biden's $2.25T infrastructure plan could slash growth in the long term due to a slew of tax hikes.

The U.S. trade deficit surged to a record high in February as the nation's economic activity rebounded more quickly than that of its global rivals and could remain elevated this year, with massive fiscal stimulus expected to spur the fastest growth in nearly four decades.

JPMorgan Chase & Co Chief Executive Officer Jamie Dimon said on Wednesday the United States could be in store for an economic boom through 2023 if more adults get vaccinated and federal spending continues.

Millions of homeowners who are struggling to make their mortgage payments due to the coronavirus pandemic could get a fresh reprieve under new rules proposed this week by the Consumer Financial Protection Bureau.  

New York is set to raise taxes on its wealthiest residents after Gov. Andrew Cuomo and legislative leaders reached a tentative agreement that would make the state's millionaires pay the highest income rate in the nation.  

The Internal Revenue Service will automatically issue tax refunds next month to Americans who already filed their returns but are eligible to take advantage of a new break on unemployment benefits.

President Biden and his top lieutenants have inaccurately depicted how many jobs the eight-year spending initiative will create.

The 190-country lending agency said Tuesday that it expects the world economy to expand 6% for 2021, up from the 5.5% it had forecast in January. It would be the fastest expansion for the global economy in IMF records dating to 1980.

President Biden has pledged to raise taxes on high-earning Americans in order to pay for his forthcoming infrastructure bill, but the design of the levy may inadvertently hurt married couples.