The economics world suffered a big loss over the weekend with the untimely passing of Alberto F. Alesina, the Nathaniel Ropes professor of political economy at Harvard. Alesina’s specialty was investigating the economic effects of political choices, such as which policies are most effective in addressing large fiscal deficits and national debts. U.S. lawmakers would
JP Morgan Chase & Co. Chairman & Chief Executive Officer Jamie Dimon testifies before the House Financial Services Committee on accountability for megabanks in the Rayburn House Office Building on Capitol Hill in Washington, DC on April 10, 2019. Mandel Ngan | AFP | Getty Images JPMorgan Chase shares rose Tuesday after CEO Jamie Dimon called the
Medical workers transport a patient outside a special Covid-19 area at Maimonides Medical Center in Brooklyn, New York, on May 17. Johannes Eisele | Getty Images If you’re collecting more on unemployment than what you earned while working, it could affect how much you pay for health insurance. For households that bought coverage through one
The coronavirus has affected virtually everyone in the nation. Its impact will be felt for years, with far-reaching effects on how practitioners work, the financial status of their clients, and the tax planning issues resulting from new legislation. With that in mind, we asked experts to weigh in on how practitioners will be affected and
Canceled that flight to Cancun or that cruise out of Miami to the Caribbean? You’re not alone. In light of the Covid-19 pandemic and worries over health and safety, many Americans will opt to “staycation” this year and holiday at home or nearby. “We’re seeing a trend overall [that] people are booking trips closer to
We are all getting back to the basics. While it might feel good to bake bread, the best way to get through the coronavirus pandemic could be to stock your emergency fund and learn to “do-it-yourself” with household chores so you can save on expenses. One bright spot: You might have more time on your
Hero Images | Getty Images Traditionally, parents pay a premium so their children can play capture the flag, drink bug juice and swim in a lake through August. This year, of course, summer camp looks very different. Amid the coronavirus crisis, many camps have cancelled their summer sessions, others have moved online and a few
Will the economy rebound without more stimulus? White House economic adviser Kevin Hassett seems to think so. He said yesterday that “it’s possible that we will see a strong-enough economy that we don’t need a phase four” stimulus package. He, like other White House officials, says the US should assess the impact of existing relief
The U.K. government’s treasury building Matthew Lloyd | Bloomberg | Getty Images The U.K. borrowed at a negative interest rate for the first time on Wednesday, amid growing fears of a deep global recession and expectations of further bond buying action from central banks. In an auction Wednesday, the country’s Debt Management Office said it
Lillian Johnson, 77, pictured outside her East Meadow, New York, nursing home. Because of Covid-19 restrictions, her son was unable to visit her for two months. Lamont Johnson Lamont Johnson lives just about two miles from his mother’s nursing home in Long Island, New York. He has not been able to visit her for about
Elected officials — from Washington, D.C., to state capitals across the country — are asking businesses to pitch in and help with COVID-19 relief. Businesses are contributing in many ways, from retooling models in order to provide personal protective equipment, and donating PPE, to brainstorming ways to help fight the virus. Despite the positive impacts,
Marc Andreessen, co-founder and general partner of Andreessen Horowitz David Paul Morris | Bloomberg | Getty Images Amid a sharp pullback in venture capital activity during the coronavirus pandemic, one Silicon Valley start-up is showing what could be a path forward for other new companies seeking funding. The business, a payroll platform for remote workers
More than 38 million people have filed for jobless claims since the coronavirus pandemic started. The unexpected loss in income is causing many Americans to tap their retirement savings just to make ends meet. And many people who lost a job — or have a spouse or partner whose income has declined — didn’t have
A bipartisan group of senators has introduced legislation to prevent private debt collectors from seizing the economic impact payments provided to taxpayers under the CARES Act. The CARES Act, the $2.2 trillion package passed by Congress in late March to provide relief to individuals and businesses suffering from the economic fallout of the novel coronavirus
The major individual income tax provisions in the House-passed Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act would cut taxes by an average of about $3,300, according to a new analysis by the Tax Policy Center. Nearly all households would receive some tax cut, with the biggest average benefits, as a share of after-tax
Sheraton Grand Sacramento Hotel Source: Sheraton Grand Sacramento Hotel A small firm is looking to make a change at a real estate investment trust, an area typically tough for activism. Company: CIM Commercial Trust Corp. (CMCT) Business: Real estate investment trust that primarily acquires, owns, and operate Class A and office assets in the United States. Stock market
A driver and passenger wearing protective masks exit the ride sharing pickup area in a car displaying Uber Technologies signage at San Francisco International Airport in San Francisco, California, U.S., on Monday, May 4, 2020. Photographer: David Paul Morris/Bloomberg via Getty Images Bloomberg Leonardo Diaz is in a tough spot. Diaz, a driver for Uber
The COVID-19 pandemic is forcing corporate tax departments to reconsider their top priorities for this year, according to a new survey. Bloomberg Tax & Accounting polled a group of corporate tax professionals before and after the outbreak of the novel coronavirus disease in the U.S. about staffing, mandates, challenges and concerns. The survey found differences
Jeff Lawson, CEO, Twilio Scott Mlyn | CNBC An index of cloud stocks developed by venture-capital firm Bessemer Venture Partners reached new highs this week as U.S. indexes still recover from the selloff that began in February. The BVP Nasdaq Emerging Cloud Index, established in 2013, is up about 31% for the year, while the S&P
Hispanolistic Over 152 million stimulus checks have been issued to individuals over the last six weeks, according to data from the U.S. Treasury Department and Internal Revenue Service. In all, the agencies have distributed $257.9 billion in Economic Impact Payments. Uncle Sam began depositing the funds into taxpayers’ bank accounts in mid-April. The average payment came