DIRS.INFO The most relevant business & tech news

☆ Republicans are staunchly opposed to student-loan forgiveness, but Democrats think it goes 'hand in hand' with creating high-paying jobs
▼ + stars: | 2023-06-03 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +6 min

Republicans and a few Democrats have voted to overturn Biden's student-loan forgiveness. Democrats defend Biden's student-loan forgiveness as part of a broader workforce development strategy to address the ongoing labor shortage and rebuild the middle class. "Student loan 'forgiveness' will benefit wealthy elites," Rep. Jim Jordan tweeted when Biden announced his student-loan forgiveness plan in August 2022. But Deluzio voted with all but two House Democrats to protect Biden's student-loan forgiveness. "Expansions of student debt forgiveness need to be matched dollar-for-dollar with investments in career & technical education.

Persons: it's, —, Biden's, Biden, he's, Jim Jordan, Joe Biden, Sen, Bill Cassidy, Jamaal Bowman, Bowman, Chris Deluzio, Deluzio, Marie Gluesenkamp Perez, Washington, Pell Grant Organizations: Service, Privacy, House Republicans, Biden's, Real America, Fox, Democratic Rep, York, Pennsylvania, Democrats, Pittsburgh Democrat, Republican, Brookings, New York Times, Institute Locations: Real, Ohio, Georgia, Philadelphia

☆ Several top House Democrats want to get rid of the debt ceiling and economic 'hostage taking'
▼ + stars: | 2023-06-02 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +7 min

House Republicans refused to raise the debt ceiling unless Democrats agreed to cut spending. Many progressive and moderate Democrats want to repeal the debt ceiling to prevent more brinkmanship. "For many, many, many years, people recognized that Republicans and Democrats worked together to pass a clean debt ceiling. "We need to pass the bill to eliminate the debt ceiling limit." Raskin reiterated an argument that the 14th Amendment could be used to eliminate the debt ceiling.

Persons: —, Pramila Jayapal, Kevin McCarthy, Joe Biden, shutdowns, we've, Rep, Teresa Leger Fernández, Jamie Raskin, Raskin, Lincoln, Shri Thanedar, Jayapal, Dan Kildee, Kildee, Jeff Jackson of Organizations: Service, House Republicans, Democrats, Senate, Republicans, Congressional Progressive Caucus, Washington State, Republican, US, Democrat, New, Maryland, Democratic, Rep, Michigan, New Democrat Coalition Locations: New Mexico, United States, California, Denmark, Jeff Jackson of North Carolina

☆ How the debt ceiling became a game of political chicken that continues to threaten our economy
▼ + stars: | 2023-05-31 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +2 min

Congress originally created the debt ceiling to control military spending. Since the 1990s, Democrats and Republicans have leveraged the risk of a debt default to control the budget. 2023 has seen a debt ceiling standoff between President Joe Biden and Speaker Kevin McCarthy. That economic crisis could arrive as early as June 5, if Congress doesn't raise or suspend the debt ceiling. Congress created the debt ceiling in 1917 to control military spending as the US took on debt to enter World War I.

Persons: Joe Biden, Kevin McCarthy, —, it's Organizations: Republicans, Service, Department of, Treasury Locations: Congress

☆ Janet Yellen isn't 'credible' and the US won't default on its debt on June 1, Republican congressman says
▼ + stars: | 2023-05-25 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +5 min

Congress can't raise the debt ceiling and avoid economic crisis because Republicans want spending cuts. Janet Yellen said Treasury may not be able to delay a default past June 1. To avoid a default, Congress has to raise the debt ceiling, and Republicans won't do it unless Democrats agree to spending cuts. Janet Yellen was wrong on having interest rates too low for far too long. Asked about his alternative date, Donalds said, "Listen, I'm not the Treasury Secretary.

☆ Republicans are holding the American economy 'hostage' over the debt ceiling after rejecting Biden's offer of $3 trillion in deficit cut proposals, House Progressive Caucus says
▼ + stars: | 2023-05-24 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +4 min

Republicans have refused to raise the debt ceiling without reducing the deficit. The US could default on its debt in less than a week unless Congress raises the debt ceiling. House Democrats blame this "reckless hostage taking" on Republicans. House Democrats have flipped the switch. House Democrats are blaming their Republican colleagues for rejecting Democratic proposals to reduce the deficit.

☆ Bosses want people in the office. The class of 2023 is ready.
▼ + stars: | 2023-05-21 | by ( Ethan Dodd | Madison Hoff | ) www.businessinsider.com time to read: +8 min

Surveys show Gen Z and class of 2023 graduates want an in-person experience. In-person work can provide young workers with community, keep them engaged, and enhance their early workplace learning. Not so with Gen Z and the class of 2023. This generation wants the community, learning opportunities, and engagement that in-person work can provide — although some young professionals aren't a fan of in-office roles and prefer remote work. "Especially for new grads, they should balance the flexibility that they have for remote work and finding new opportunities with some of the benefits of in-person work," Pardue said.

☆ Uber is trying to sway Chicago's mayor and Illinois Democrats against a bill seeking to make rides safer for customers
▼ + stars: | 2023-05-19 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +7 min

An Illinois bill could hold companies like Uber and Lyft liable for harm done to passengers. Uber launched a "pressure campaign" to avoid liability for these incidents, the law group behind the bill said. JB Pritzker, it would eliminate an exemption in Illinois law that has protected ride-hailing companies since 2015. Salvi said Illinois exempted ride-hailing companies from the state's common-carrier civil-liability doctrine in 2015 to "allow them to come to market" and "give them an ability to compete." Moreover, the exemption has protected ride-hailing companies in even more extreme cases.

☆ Biden administration defends immigrant labor while sending 1,500 troops to the border
▼ + stars: | 2023-05-16 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +4 min

President Biden is sending 1,500 troops to the southern border. Yet, his secretary of Homeland Security says employers "are desperate for workers." The COVID-era rule expired May 11, so the Biden administration is now sending troops to tamp down on border crossings. Despite taking such measures to police the border, Biden's Department of Homeland Security argued on the day that Title 42 ended that immigrant labor is needed to address America's labor shortage. As a result, native workers who dropped out of high school and typically earn $25,000 annually saw their earnings drop by between $800 and $1,500 each year, he estimated.

☆ Misclassifying employees as gig workers creates 'a race to the bottom' for businesses, Biden's top labor and antitrust regulators say
▼ + stars: | 2023-05-14 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +6 min

Businesses have an incentive to misclassify workers as contractors to undermine their competitors, according to the DOJ Antitrust Division. It's just the tip of the iceberg when it comes to those called "gig workers" — freelancers, contractors, on-call workers, and temp agency workers, who for decades have increasingly replaced full-time employees as independent contractors. Not so for gig workers. In 2018, 20% of workers were contract workers, and 65% of part-time workers and over half of contract workers went without benefits, according to NPR. "Our goals are the same," Abruzzo said, as NLRB and DOJ Antitrust want to end "misclassification and employment structures that cause vertical constraints on competition."

☆ Ted Cruz accused JD Vance of empowering 'the radical Green Movement' by aligning with Democrats on a bill to prevent rail disasters like the East Palestine crash
▼ + stars: | 2023-05-11 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +7 min

JD Vance, a Republican senator from Ohio, proposed the Rail Safety Act in March. "All of us were moved by the testimony of the witnesses" from East Palestine, Cruz said. "We cannot undo the psychological, economic, and physical toll of the derailment in East Palestine," Vance noted, but "there will be another East Palestine in this country if we do not pass the Railway Safety Act." "I earnestly hoped that we would reach a bipartisan consensus," Cruz said, but "this bill is overly and needlessly prescriptive." Nonetheless, Cruz doubted the bill would pass the Senate with 60 votes, let alone the House.

☆ Credit card companies need to explain the 'exorbitant' late fees they're charging customers, says Elizabeth Warren
▼ + stars: | 2023-05-09 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +6 min

Sen. Elizabeth Warren wants to know if credit card companies stand with the banks. Currently, credit card companies are permitted to fine consumers up to $41 for each missed credit card payment — no questions asked. The other nine credit card companies Warren sent the letter to did not immediately reply to a request for comment. She wanted to know why reducing credit card late fees would be any different. Warren also asked each credit card company to answer how much money they collect in credit card fees each year — and the proportion from low-income earners — and the actual cost of collecting those fees.

☆ 26 jobs that pay more than $80,000 a year and don't require a bachelor's degree
▼ + stars: | 2023-05-08 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +1 min

College graduates make almost twice as much money as high school graduates. The 26 highest-paid jobs that don't require a bachelor's degree span transportation, energy, healthcare, and more. Though on average those with a bachelor's degree earn almost twice as much as those with only a high school diploma, fewer graduating seniors are going to college. And as more state governments, companies, and members of Congress no longer require a college degree to work for them, high school graduates will gain access to even more good jobs. Using the most recent occupational wage data from the Bureau of Labor Statistics, we ranked the 26 highest-paid jobs that don't require a bachelor's degree.

☆ You don't need a college degree to work for this member of Congress
▼ + stars: | 2023-05-04 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +6 min

College degree requirements lock millions of Americans out of jobs. Persistent labor shortages have caused some states and companies to drop degree requirements. However, persistent labor shortages have helped call such degree requirements into question. Craig said she is the first member of Congress to officially drop degree requirements for congressional staff. "Every job description should consider: Does this job actually need a four-year degree," or is relevant experience sufficient, she said.

☆ The 31 colleges with the best bang for your buck
▼ + stars: | 2023-05-01 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +2 min

Most graduating high school seniors have until May 1 to decide where they will go to college. Here are the top 31 colleges based on their return of investment. To get the best bang for your buck, students need to consider how much they'll earn in the future from investing thousands of dollars in tuition, room, and board over the next four years. We ranked the top 31 colleges according to how much that investment will be worth in 40 years in today's dollars. Here are the top 31 colleges with the best return on investment.

☆ The class of 2023 wants jobs that match their personal values and interests, even if it means less money
▼ + stars: | 2023-04-29 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +7 min

Today's college grads want work that speaks to their values and interests. Today's availability of jobs mean Gen Z can afford work that pays less. Not to mention, the rise of remote work means "you're not forced to live in the most expensive city," Krembs said. Companies are struggling to appeal to Gen ZJust after Gen Z started graduating from college and entering the workforce, large companies started making progressive commitments. Perhaps unsatisfied with the big companies on offer, Gen Z is taking on side hustles and freelancing to work towards their values and interests.

☆ Forget an MBA. This accountant has spent $250 to teach himself how to be a data analyst so he can get a $30,000 raise and buy a house.
▼ + stars: | 2023-04-25 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +7 min

Jeremy Peer felt stuck at his $60,000 accounting salary but can't afford to go to business school. His SQL data analytics training was only $250, and he's working towards a free Microsoft certification. Now, he's taking online courses to land a higher-paying job in business analytics instead of shelling out tens of thousands of dollars on business school. He started listening to the Degree Free podcast and reading their newsletter and learned that Maruyama got hired after completing a Salesforce certification in just over a month. As an accountant for a Detroit-based distribution firm back in 2019, he saw firsthand the business need for analyzing large data sets.

☆ AI like ChatGPT could change the day-to-day of white-collar jobs the most and reverse decades of tech-driven inequality — if we use it the right way
▼ + stars: | 2023-04-20 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +6 min

Artificial intelligence could cheapen educated labor and reduce inequality. "The general presumption is that AI — and even before that, office software — would impact middle-skill workers," Acemoglu told Insider. That word "exposure" means AI could either replace high-income workers, which would reduce inequality, or make them even more productive, which would increase it. "You can imagine devolving some of the most highly skilled tasks to less skilled people," Autor said. Additionally, "the more skilled workers may be able to shield themselves," he said.

☆ One of the most important conservative think tanks is changing its tune on the free market and state power to keep up with the 'New Right' ushered in by Trump and DeSantis
▼ + stars: | 2023-04-16 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +7 min

A recent report published by the think tank outlines how government could play a greater role in the economy. The foundation is trying to keep up with American right's turn away from free markets with Trump and DeSantis. On the other side are libertarian conservatives like Sen. Rand Paul who opposes interfering with free markets. The Reaganite fusion of free markets, social traditionalism, and anti-communism "is fundamentally dead," Geoff Kabaservice, vice president of political studies at the market-oriented think tank Niskanen Center, told Insider. Heritage's president, Kevin Roberts, took over in 2021 and has aligned the think tank much more with the New Right, which is home to figures like Florida Gov.

☆ CEOs like Jamie Dimon, Warren Buffett, and Elon Musk want the government to fight inequality and 'reignite the American dream'
▼ + stars: | 2023-04-15 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +8 min

His proposals include investing in American industry, teaching students workplace skills, and expanding the Earned Income Tax Credit. Forecasting "storm clouds ahead," Dimon wants the government to drive economic growth by subsidizing industry, investing in the workforce, and reducing income inequality. Following in Buffett's footsteps, Dimon said JPMorgan owes its business success to the "extraordinary conditions our country creates" for economic growth. Akin to Musk, Dimon said he didn't want the government to micromanage industry, believing "Adam Smith's invisible hand still prevails." He suggested expanding the Earned Income Tax Credit, a tax refund that allows lower-income working individuals and families to keep more of their earned income.

☆ Ron DeSantis and the Florida GOP want to make it harder for public-sector unions to collect dues — with exceptions for police and firemen
▼ + stars: | 2023-04-08 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +6 min

The Florida senate passed a bill that would make it harder for public sector unions to collect dues and recertify. While it will impact Democratic-leaning teachers' unions, along with most other public-sector unions, Republican-supporting police and firefighters' unions will be exempt. By making it harder for public employees to pay their union dues, the law makes it harder for teachers' unions to reach the new 60% threshold and recertify. "The governor's staff apparently called around to see the membership of public unions, specifically teachers," Spar said. Of the 100 local teachers unions Spar represents, 70-75 of those locals would need to hold an election to recertify, he said.

☆ Why so many Americans hate their work hours
▼ + stars: | 2023-04-05 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +8 min

Lower-income workers want to work more, and higher-income workers want to work less. In fact, nearly a quarter of low-income workers making less than $47,000 a year want to work more hours. On the flipside, almost a third of middle- and high-income workers say they work too many hours, according to a Pew Research Center report released Thursday. Workers are left either wanting to work more but can't get the hours, or they want to work less but feel they shouldn't. When surveyed, lower-income workers would likely jump at the opportunity to work more hours to earn more.

☆ Hard work just doesn't pay like it used to
▼ + stars: | 2023-04-05 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +6 min

Today's workers, especially gig workers, don't have the security that hard work once promised. Fueling the pessimism about hard work might be that Americans have "been doing nothing but hard work for the last two decades," Jennifer Klein, a Yale labor historian, told Insider. Blame the rise of gig work for hard work not paying offThough Americans work fewer hours now than they have in years past, they're working harder than ever. As a result, "people have experienced hard work and intensified work, but in very, very unpleasant and not particularly rewarding terms," she added. However, deregulation of employment and the dismantling of the New Deal structures of fair work have decoupled hard work and security, Klein said.

☆ Ron DeSantis will spend up to $4 billion on school vouchers for Florida families to challenge 'woke' public schools
▼ + stars: | 2023-03-29 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +5 min

Ron DeSantis is waging a war against 'woke' public schools. On Monday, the governor signed universal school vouchers into law, which both conservatives and liberals expect to hurt public schools. Public school enrollment has only dropped a few percentage points, from 89.6% to 87.2%, since Republican Gov. Now, however, DeSantis' move to broaden the voucher program to all Florida families could meaningfully threaten funding for public schools. Spar fears universal vouchers "will literally siphon money away" from public schools because it's all under the same education budget.

☆ 15 places to live that will save you money in inflationary America
▼ + stars: | 2023-03-27 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +1 min

Inflation is still high, even though the housing market has cooled some. From South Texas to South Dakota, here are 15 places with the lowest cost of living in America. The rankings and reviews site Niche just released its 2023 list of places with the lowest cost of living in America. However, the increased cost of living hasn't hit the country equally across the board. Here are the 15 lowest cost of living places in the United States, many of which are in South Texas.

College enrollment has declined over the last decade. Here are three reasons why college enrollment may have collapsed. Why learn when you can earnThe robust labor market may have also contributed to college enrollment falling. Such attacks on colleges over the years might have caused Republicans to question the skill benefits of a college education. Did you get a job without a college degree?

Search resuls for: "Ethan Dodd"

25 mentions found