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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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Traders work the floor of the New York Stock Exchange. NYSE Stock futures edged lower Sunday night after finishing near the flat line Friday after investors shook off concerns about a much weaker-than-expected labor market report released on Friday. Dow Jones Industrial Average futures fell 33 points, or 0.08%. S&P 500 and Nasdaq 100 futures
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McBride Inlet in Alaska’s Glacier Bay National Park, which ParkSleepFly rated as America’s most underrated national park. Andrew Peacock | Stone | Getty Images Ever since Covid-19 first made social distancing a thing, Americans looking to escape lockdown boredom and work-from-home isolation have sought out open spaces at the country’s 63 national parks — and
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Lael Brainard, governor of the U.S. Federal Reserve, speaks during the National Association of Business Economics (NABE) annual meeting in Arlington, Virginia, on Monday, Sept. 27, 2021. Al Drago | Bloomberg | Getty Images Federal Reserve Governor Lael Brainard‘s increased influence ahead likely means substantial changes and challenges for the nation’s banking system. Considered a
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In this article SAVE A Spirit Airlines aircraft takes off at Orlando International Airport. Paul Hennessy | SOPA Images | LightRocket | Getty Images Spirit Airlines‘ CEO Ted Christie on Friday told staff to get inoculated against Covid-19 ahead of forthcoming federal vaccine mandates for large companies. President Joe Biden last month said the government
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U.S. stock index futures were flat during overnight trading on Thursday as Wall Street awaits Friday’s key September jobs report. Futures contracts tied to the Dow Jones Industrial Average gained 19 points. S&P 500 futures were up 0.06%, while Nasdaq 100 futures advanced 0.08%. Stocks advanced during regular trading on Thursday as Washington reached a
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Lev Radin | LightRocket | Getty Images An emergency landing at LaGuardia Airport triggered a significant response from fire and police units Saturday afternoon. The Federal Aviation Administration confirmed Republic Airlines Flight 4817 landed safely at the Queens airport around 3 p.m. following a “security incident.” All passengers made it safely off the plane, the
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Recent proposals to increase the effective tax rates (ETRs) faced by multinationals rely on the argument that these firms achieve artificially low tax rates by shifting profits to foreign tax havens and other low-tax countries. By raising the tax rates on the foreign income of U.S. multinationals, these proposals would supposedly reduce profit shifting. However,
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