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☆ Republican House speaker floats deregulation, tax cuts — not tariffs — to pay for Trump proposals
  + stars: | 2024-09-18 | by ( Rebecca Picciotto | ) www.cnbc.com   time to read: +1 min
Republican House Speaker Mike Johnson on Wednesday said former President Donald Trump could pay for his presidential campaign's economic proposals by rolling back corporate regulation and expanding tax cuts to stimulate growth. "If you get Republican leadership in the White House, the Senate and the House, unified government, we will put this thing on turbo. Trump has proposed making his 2017 tax cuts permanent and further lowering the corporate tax rate, as well as wholly eliminating federal income taxes on worker tips, overtime pay and Social Security benefits. That figure did not include Trump's Sept. 12 proposal to exempt overtime pay from federal income taxes. A tax exemption for all hours worked over 40 hours per week would cost an estimated $1.3 trillion over 10 years.
Persons: Mike Johnson, Donald Trump, Trump Organizations: Senate, Social Security, Penn Wharton Budget Model, Yale Budget, Republican Locations: Louisiana
☆ Neither Trump nor Harris really gave us much detail about how they will fix the economy in the debate
  + stars: | 2024-09-11 | by ( Alice Tecotzky | ) www.businessinsider.com   time to read: +5 min
Though the debate opened with a discussion about the economy, the conversation quickly devolved into platitudes, boasts, and personal jabs. Industry leaders told Business Insider that they hoped to hear the candidates discuss crypto guidelines, regulation, and key appointments on Tuesday night, but little was said about any of those topics. "What we really need is either a debate or a whole section of a debate devoted to economic issues," Tedeschi said. Tedeschi told Business Insider that we need clarity about Trump's proposed tariffs, which are the "most consequential and radical thing that he's proposed." Chris Larsen, the billionaire co-founder of blockchain payments company Ripple, told Business Insider that Harris was "spectacular."
Persons: —, Kamala Harris, Donald Trump sparred, Ernie Tedeschi, Tedeschi, Harris, Trump, Paul Donovan, Mark Penn, Clinton, Aaron Levie, Chris Larsen, Crypto, there's, Larsen, Bradley Tusk Organizations: Service, Industry, Business, Yale Budget Lab, UBS Global Wealth Management, New York Times, Federal, Federal Trade Commission, Others, Trump, Democratic, Tusk Venture Partners Locations: platitudes
☆ U.S. job market slows, but it's not yet a 'three-alarm fire,' economist says
  + stars: | 2024-09-06 | by ( Greg Iacurci | ) www.cnbc.com   time to read: +3 min
The unemployment rate also fell slightly, to 4.2% from 4.3% in July. For example, average job growth was 116,000 over the past three months; the three-month average was 211,000 a year ago. The unemployment rate has also steadily risen, from 3.4% as recently as April 2023. In other words, many more Americans entered the job market and looked for work; they're counted as unemployed until they find a job. That said, the job hunt has become more challenging for job seekers than in the recent past, according to Bunker.
Persons: Michael M, Ernie Tedeschi, Biden, hasn't, Julia Pollak, Bunker, " Tedeschi, Tedeschi Organizations: FedEx, Broadway, Santiago, Getty, of Labor Statistics, Yale Budget Lab, White House Council, Economic Advisers, Labor Department, ZipRecruiter, Workers, ., Federal Reserve Locations: New York City, U.S
☆ We are pointed towards 'recessionary dynamics': New Century's Claudia Sahm
  + stars: | 2024-08-02 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe are pointed towards 'recessionary dynamics': New Century's Claudia SahmDiane Swonk, KPMG chief economist; Ernie Tedeschi, Yale Budget Lab director of economics; and Claudia Sahm, New Century Advisors chief economist, join 'The Exchange' to discuss their reactions to the July job report, the possibility of an upcoming recession, and more
Persons: Claudia Sahm Diane Swonk, Ernie Tedeschi, Claudia Sahm Organizations: KPMG, Yale Budget Lab, Claudia Sahm , New Century Advisors Locations: Claudia Sahm ,
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