<!–
*{box-sizing:border-box}body{margin:0;padding:0}a[x-apple-data-detectors]{color:inherit!important;text-decoration:inherit!important}#MessageViewBody a{color:inherit;text-decoration:none}p{line-height:inherit}.desktop_hide,.desktop_hide table{mso-hide:all;display:none;max-height:0;overflow:hidden}.image_block img+div{display:none}sub,sup{font-size:75%;line-height:0}#converted-body .list_block ol,#converted-body .list_block ul,.body [class~=x_list_block] ol,.body [class~=x_list_block] ul,u+.body .list_block ol,u+.body .list_block ul{padding-left:20px} @media (max-width:620px){.desktop_hide table.icons-outer{display:inline-table!important}.image_block div.fullWidth{max-width:100%!important}.mobile_hide{display:none}.row-content{width:100%!important}.stack .column{width:100%;display:block}.mobile_hide{min-height:0;max-height:0;max-width:0;overflow:hidden;font-size:0}.desktop_hide,.desktop_hide table{display:table!important;max-height:none!important}.reverse{display:table;width:100%}.reverse .column.first{display:table-footer-group!important}.reverse .column.last{display:table-header-group!important}.row-10 td.column.first .border,.row-12 td.column.first .border,.row-8 td.column.first .border{padding:5px 5px 15px 25px}.row-10 td.column.last .border,.row-12 td.column.last .border,.row-8 td.column.last .border{padding:5px 20px 25px 5px}}
sup, sub { font-size: 100% !important; } sup { mso-text-raise:10% } sub { mso-text-raise:-10% }
{beacon}
Business & Economy
|
Business & Economy
<!–
|
|
|
Senate advances bill to prevent shutdown
|
A group of 10 Democrats, including Senate Minority Leader Chuck Schumer (D-N.Y.), voted Friday to advance a Republican bill to fund the government through Sept. 30.
|
The pivotal procedural vote, which passed 62-28, puts the bill on a glidepath to pass the Senate sometime Friday night, despite fierce opposition from many Democrats.
Senate Majority Leader John Thune (R-S.D.) announced an agreement shortly before 4:30 p.m. Friday to vote to immediately advance the House-passed funding bill and consider four amendments to the legislation, all of which were expected to fail.
How we got here:
Schumer’s decision to vote to advance the bill, which he acknowledged Thursday is a “very bad” bill, has sparked an angry backlash from Democratic progressives and House leaders.
Rep. Alexandria Ocasio-Cortez (D-N.Y.) warned that Schumer would be making a “tremendous mistake.”
After learning of Schumer’s decision, Ocasio-Cortez told reporters that “there is a deep sense of outrage and betrayal.”
Read the full report at TheHill.com.
|
Welcome to The Hill’s Business & Economy newsletter, I’m Sylvan Lane — covering the intersection of Wall Street and Pennsylvania Avenue.
|
Did someone forward you this newsletter? Subscribe here.
|
|
|
Key business and economic news with implications this week and beyond:
|
|
|
These 10 Democrats voted to advance the GOP funding bill
|
|
|
Ten Senate Democrats helped Republicans advance a GOP-crafted stopgap spending bill, paving the way for it to pass ahead of the midnight deadline despite concerns from scores of their colleagues.
|
|
|
|
Dozens of House Democrats pen letters to Schumer urging him to reject CR
|
|
|
Dozens of House Democrats signed on to a pair of letters to Senate Minority Leader Chuck Schumer (D-N.Y.) on Friday, urging him to oppose the House GOP’s government funding bill as the upper chamber prepared to take a key procedural vote on the measure.
|
|
|
|
IRS to pause modernization efforts under Trump
|
|
|
The Internal Revenue Service (IRS) is pausing the operational overhaul it started during the Biden administration and is set to make changes to its workforce, senior Treasury Department officials said on a Friday call with reporters.
|
|
|
|
Trump presses Senate GOP on pledged tax cuts
|
Welcome to Tax Watch, a new feature focused on the fight over tax reform and the push to extend the 2017 Trump tax cuts this year.
|
President Trump has made numerous promises on individual tax cuts in addition to the extension of his sweeping 2017 tax cuts — the last major reform to the U.S. revenue system that Senate Republicans are now working to make permanent.
Three of those promises — canceling taxes on tip compensation, overtime pay, and Social Security — look to be at the top of his tax agenda, which he met with Republicans on the Senate Finance Committee about this week.
“The President very much wants to make sure we see no tax on tips, Social Security … and overtime. Those are all important priorities to the President,” committee member Steve Daines (R-Mont.) said after the meeting with Trump.
Trump also mentioned his auto loan interest deduction proposal while addressing Congress earlier this month.
What he hasn’t mentioned in a while are the child tax credit, his proposal for a family caregiver tax credit, and the reinstating of unlimited state and local tax (SALT) deduction itemization — all key issues in the tax fight.
— Tobias Burns
|
|
|
The Hill’s Evening Report breaks down the day’s big political stories and looks ahead to tomorrow. Click here to sign up & get it in your inbox
|
|
|
Branch out with more stories from the day:
|
|
|
Wall Street rallies to its best day in months, but that’s not enough to salvage its losing week
|
NEW YORK (AP) — U.S. stocks rallied to their best day in months on Friday as Wall Street’s roller …
|
|
|
Business and economic news we’ve flagged from other outlets:
|
- Hope for a Trump Energy Boom Is Marred by Anxiety About Tariffs (NYT)
- Gold prices hit $3,000 for the first time as investors push the panic button (CNN)
|
|
|
Top stories on The Hill right now:
|
|
|
Live updates: Senate taking final vote on averting shutdown; Trump lays out plan for DOJ
|
The Senate inched closer to funding the government before the deadline Friday. Read more
|
|
Canadian reporters grill Rubio over Trump’s 51st state talk
|
Secretary of State Marco Rubio on Friday faced pointed questions from Canadian journalists over the seriousness of President Trump’s calls for Canada to become the 51st state and the trade war with Ottawa that has plunged relations to a historic low. Read more
|
|
|
Opinions related to business and economic issues submitted to The Hill:
|
- Tariffs may be worth it, but Trump must level with the public about the coming pain
- Ignore Democrats’ hysteria: Trumponomics is working
|
|
|
|
You’re all caught up. See you next week!
|
|
|
|
Close
if ( window.checkSizeClasses && window.checkSizeClasses instanceof Function) {
window.checkSizeClasses();
}
Source link
