BBB and Equity

Update 569 — BBB and Equity:What the Tax Provisions Mean Six months ago, the Treasury Department released the Green Book detailing President Biden’s vision for a more equitable tax system, aimed at getting large firms and the very wealthy to pay their fair share. The key elements of this initiative are pending in Congress in the Build …

BBB and Equity Read More »

CPI Up 6.2%, I-Word Heard

Update 568 — CPI up 6.2%, I-Word HeardBut Benefits Top Risks: IIJA, Look Forward In less than 24 hours, the world’s three largest economies — the U.S., China and Japan — each released inflation data showing prices rising at the fastest rate in 30 years. The 6.2 percent increase in prices over the last 12 months shows …

CPI Up 6.2%, I-Word Heard Read More »

Building a BBB Budget

Update 566 – Building a BBB Budget:Can It Be Balanced by Billionaires? Last weekend, Senator Kyrsten Sinema nixed BBB proposals to raise corporate, individual and capital gains tax rates to pay for the bulk of the bill. Scrambling to fill the close to $1 fiscal hole, Democrats have seized upon the billionaire tax option. The plan proposed …

Building a BBB Budget Read More »

BBB Faces Housing Crisis

Update 565 — BBB Faces Housing Crisis:Residential Infrastructure and Recovery Democrats’ negotiations on Build Back Better are gathering momentum, as evidenced by the stream of detailed pare-backs and concessions reported this week.  But progressives are mounting a defense of the bill’s housing provisions. Congress may cut housing outlays from the initially proposed $327 billion to as …

BBB Faces Housing Crisis Read More »

Assessing Asymmetrics, Crypto and Climate

Update 564 — Emerging Fin. Systemic Risks:Assessing Asymmetrics: Crypto and Climate Feverish negotiations on BIF and BBB continue on the Hill. Elsewhere in Washington, broader issues will get more attention once the big-ticket items are disposed of this fall. The Financial Stability Oversight Council (FSOC), created by the Dodd-Frank Act after the 2008 financial crisis, will face new, growing …

Assessing Asymmetrics, Crypto and Climate Read More »

Labor Market Review

Update 563 — Labor Market Review:Participation Down Tho Benefits Cut The U.S. added 194,000 jobs in September but 183,000 people dropped out of the labor force, according to the Bureau of Labor Statistics’ September jobs report, released Friday. It’s the first report since federal unemployment programs ended on Labor Day, offering yet more evidence that pandemic-era unemployment …

Labor Market Review Read More »

Democrats’ BBB Message Mixed or Missing?

Update 562 — 1, 2, 3, What’re We Fighting For?Democrats’ BBB Message Mixed or Missing? With the ticking time bomb that is (still) the debt limit to be reset for December 3, the conversation on the Hill returns to reconciliation negotiations. President Joe Biden spoke in Michigan this week, campaigning for the reconciliation and infrastructure bills being …

Democrats’ BBB Message Mixed or Missing? Read More »

Shutdown Narrowly Averted

Update 561 — Shutdown Narrowly Averted;Negotiations on BIF and BBB Intensify Yesterday, Congress managed to avoid a government shutdown by passing a stopgap continuing resolution to keep the federal government open through December 3. Speaker Pelosi also put off a vote last night on BIF, the bipartisan $1.2 infrastructure bill, when the needed 218 votes could not …

Shutdown Narrowly Averted Read More »