House Ways and Means Democrats have released key pieces of their $3.5 trillion social spending package, with the committee marking up measures today and tomorrow that would mandate universal paid family leave and expand Medicare to include dental, hearing and vision benefits. Other pieces of the Ways and Means markup would commit resources to modernize… Read more »

The United States could default on its debt sometime in October if Congress does not take action to raise or suspend the debt limit, Treasury Secretary Janet Yellen told Congress this week. In a letter to congressional leaders, Yellen said the “extraordinary measures” that Treasury has been employing to finance the government on a temporary… Read more »

Congressional leaders are working on a stopgap spending bill that would fund the government past Sept. 30 while Congress considers a $1 trillion bipartisan infrastructure bill and a Democrat-backed $3.5 trillion social spending package. The White House budget office on Tuesday called for Congress to approve a short-term extension in government funding to avoid a… Read more »

The Organization for Economic Cooperation and Development (OECD) is close to reaching agreement among nearly 140 countries on a global tax overhaul to address how “consumer-facing” digital giants like Apple, Google, Facebook and Twitter are taxed in countries where they have users. The tentative agreement now has the backing of 134 countries involved in the… Read more »

The number of people filing first-time unemployment claims dropped to 340,000 last week, which is the lowest level since the pandemic struck in March of last year. The Department of Labor report comes just before the monthly jobs report due on Friday, which is expected to show 725,000 jobs were added in August as the… Read more »