Note: The following is the testimony of Dr. William McBride, Tax Foundation Vice President of Federal Tax and Economic Policy, prepared for a Joint Economic Committee hearing on October 6, 2021, titled, “Building Back Better: Raising Revenue to Invest in Shared Prosperity.” Chairman Beyer, Ranking Member Lee, and members of the Joint Economic Committee, thank you for
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The Boston Red Sox dugout erupts onto the field after taking the 6-2 Wild card win over the New York Yankees. The Boston Red Sox host the New York Yankees in the American League Wild Card Playoff Game at Fenway Park in Boston on Oct. 5, 2021. Barry Chin | Boston Globe | Getty Images
In this article LEVI Jeans are displayed at a Levi Strauss store in New York, March 19, 2019. Shannon Stapleton | Reuters Levi Strauss & Co. on Wednesday reported fiscal third-quarter earnings and sales that topped analysts’ expectations, as consumer demand picked up during the back-to-school season and shoppers looked to stock up on the
U.S. stock futures inched higher Wednesday night after the Dow Jones Industrial Average reclaimed a 459-point loss from earlier in the day as investor concerns about a debt ceiling deal eased. Dow Jones Industrial Average futures rose 81 points, or 0.2%. S&P 500 and Nasdaq 100 futures climbed 0.3%. In regular trading the Dow rose
Former Theranos CEO Elizabeth Holmes arrives for a hearing at a federal court in San Jose, California, July 17, 2019. Stephen Lam | Reuters SAN JOSE, CALIF. — Former Safeway CEO Steve Burd on Wednesday testified in the Elizabeth Holmes criminal fraud trial, saying repeated delays with Theranos’ blood-testing machine raised red flags about his
In this article SPWR Construction workers install SunPower tiles on homes in San Ramon, Calif. Robert Nickelsberg | Getty Images SunPower said Tuesday that it’s restructuring its operations in a bid to focus exclusively on the fast-growing residential solar market. The company is acquiring residential solar provider Blue Raven, while also looking to sell its
Westend61 | Westend61 | Getty Images Let’s be honest: Making personal financial decisions can be challenging. There’s a variety of investment options, all of which carry some form of risk. And, of course, there are many types of retirement plans to choose from, each with their own set of tax consequences. The seemingly endless amount
mediaphotos | E+ | Getty Images The tax extension deadline for 2020 returns is approaching, but there’s still time to avoid extra penalties and fees. Filers have until Oct. 15 to submit their extended return, originally due on May 17. Those who filed for an extension can skip late penalties by sending in their return
A sharp jump in mortgage interest rates over the past few weeks is taking its toll on mortgage demand. Total application volume fell nearly 7% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($548,250
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In this article BNTX PFE MRK Dr. Scott Gottlieb said Wednesday he expects the coronavirus’ “pandemic phase” to be over in the U.S. once vaccines become available for children and Merck‘s antiviral pill is cleared by regulators. The other crucial development is for the highly transmissible Covid delta variant to have “moved through the country,” which
In this article AAL GM X The GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, March 16, 2021. Rebecca Cook | Reuters Check out the companies making headlines in midday trading. Dow Inc. — Shares of the chemicals company dropped more than 4% to lead the blue-chip Dow
Facebook is having a rough week — and it’s not even halfway over yet. On Tuesday, the social media giant faced negative testimony about user health and safety from a whistleblower in front of Congress. That came immediately after a massive outage took Facebook, Instagram and WhatsApp offline for more than six hours on Monday.
Boeing’s Starliner capsule sits on to an Atlas V rocket on the launchpad before the launch of the OFT-2 mission. United Launch Alliance NASA moved a pair of astronauts off Boeing’s first two crewed missions to a SpaceX mission next year, in a rare reassignment as the aerospace giant’s Starliner capsule remains delayed in development.
Finding the right financial advisor to help with your financial needs and goals can be complicated. There are so many things to consider. Every financial advisor has his or her own area of expertise. The services provided by financial advisors will vary based on the type of advisor, but overall, a financial advisor will assess
Getty Images As the coronavirus pandemic drags on, many Americans have learned to cope with the new normal. Saving for emergencies and long-term goals, such as retirement, is still a top concern, however. More than 60% of Americans said in June they were either extremely concerned or somewhat concerned about the state of their finances,
Alexandra Lashner of Bensalem, Pennsylvania, became frustrated after attempting to buy a house this year and decided to postpone homeownership. Source: Alexandra Lashner Alexandra Lashner and her husband were excited to buy their first home earlier this year. They saved up enough for a 20% down payment and had no debt. Yet they still couldn’t
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The Norwegian Dawn cruise ship arriving in the French Mediterranean port of Marseille, July 27, 2021. Gerard Bottino | SOPA Images | LightRocket | Getty Images Norwegian Cruise Lines CEO Frank Del Rio said Tuesday that his full fleet of 28 ships will resume service by April 1 for the first time since the pandemic