Every elected Democratic state treasurer is calling on Congress to approve $US350 billion in local and state aid. In a letter, treasurers outlined the impact the funding could have on jobs and vaccine efforts. Insider spoke to three state treasurers about their support for the funding. Visit the Business section […]

"We need more money to help the people in the bottom half," said Iowa Treasurer Michael Fitzgerald, one of the Democratic treasurers cited.

Global stocks gained on Wednesday as investors focused on Democratic efforts to agree on US stimulus. The “‘buy everything’ trade still has the upper hand and FOMO hasn’t gone,” a market analyst said. Oil continued to rally, buoyed by optimism over global economic recovery. Sign up here for our daily […]

House Democrats released a draft of stimulus legislation on Monday evening. It kept the stimulus check thresholds put forward in the Biden rescue package, a dismissal of a push from some Democrats to restrict who can get a full check. Democrats in the House are racing to put the Biden […]

Mitch McConnell is bombarding Democrats with amendments to Thursday’s budget resolution. Republicans have filed at least 400 amendments to the measure, key to passing Biden’s stimulus plan. A “vote-a-rama” is a typical response to the use of budget reconciliation and is usually painful. Visit the Business section of Insider for […]

The U-6 unemployment rate – a less popular reading than the commonly cited U-3 – suggests additional fiscal support could be unnecessary and pose serious risks, says James Paulsen, chief investment strategist at The Leuthold Group. The gauge – which includes those working part-time for economic reasons and workers only […]

Bank of America lifted its forecasts for US full-year and first-quarter economic growth, citing hopes for new stimulus under the Biden administration and strong consumer spending trends. The bank’s economists lifted their first-quarter GDP forecast to 4% growth from 1% and boosted their 2021 estimate to 5% from 4.6% expansion. […]

Democratic Party members are largely unified in their support for President-elect Biden’s COVID-19 stimulus. A coordinated position – which also includes endorsement from the Chamber of Commerce – is a far cry from the chaos that dominated GOP negotiations last year. In negotiating the second bill, Republicans were split between […]

The House on Dec. 28 passed the CASH Act, which would provide for increased stimulus payments from $US600 to $US2,000. A recent report from the Institute on Taxation and Economic Policy finds that the increased payments will significantly increase incomes of Americans in the poorest quintile. Democratic lawmakers say the […]

The Paycheck Protection Program is back. For millions of small business owners still struggling to pay rent and employ workers, the federal government’s forgivable loan program is a lifeline. This round looks a little different than the original that launched in the spring. It’s aimed at even smaller businesses, and […]

President Donald Trump did not sign the latest coronavirus relief legislation before midnight on Saturday, costing jobless workers one week of $US300 federal unemployment benefits. State agencies can only distribute benefits for weeks the bill is enacted, meaning the delay could cause the unemployment benefits to be distributed for 10 […]

Republicans and Democrats in Congress agreed upon a new $US900 billion coronavirus relief bill on Sunday which includes sending out the second round of stimulus checks for adults, just half the amount of the first round of stimulus checks in April. According to Insider polling, 62% of respondents believe that […]

US airlines are set to get $US15 billion in relief funds from Congress’ economic aid agreement, reached Sunday. According to CNBC, the funding will require airlines to recall more than 32,000 furloughed workers. The $US900 billion bill’s full text has not yet been released, but a summary obtained by Business […]

Senate Majority Leader Mitch McConnell came to back $US600 one-off payments to Americans as part of a new wave of proposed federal coronavirus relief after hearing that prior opposition was hurting Republicans in Georgia, according to The New York Times. Citing a private call, The Times said McConnell described Sens. […]

Some 7.8 million Americans fell into poverty between June and November, per a new report by researchers at the University of Chicago and the University of Notre Dame. In order to fall below the federal poverty line, one has to have an income at or below $US12,000 or $US26,200 for […]

The group of senators behind a bipartisan $US908 billion proposal for a COVID-19 stimulus plan to release the full text on Monday, Politico reported. Despite weeks of trying, Congress has not reached a consensus on what kind of stimulus to pass, though the $US908 billion proposal has more bipartisan support […]

The UK Wealth Tax Commission is calling for a one-off tax on the wealthy to help with coronavirus recovery. The experts behind the report say the proposed measure could raise 260 billion pounds – or around $US348 billion. It wouldn’t be the first time that the UK has imposed a […]