Economy

Anti-taxer Tim Eyman forced to sell home to pay millions in fines

Watch salesman turned anti-tax initiative promoter Tim Eyman, who was found liable last year for “numerous and particularly egregious” violations of campaign finance law, has been forced to sell his house to help pay millions of dollars of fines and debt. A federal bankruptcy judge Thursday approved a resolution requiring Eyman to sell his portion …

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Opinion | Bill Gates: A Clean Energy Future is in the Hands of Congress

Turn on the evening news and it immediately becomes clear that Americans are experiencing the effects of climate change. Extreme heat and drought are affecting tens of millions of people, as floods and wildfires ravage communities from Appalachia to California. In the coming days, Congress has the opportunity to face down the climate crisis while …

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Dems change some tax provisions as they ready economic bill

WASHINGTON (AP) — Democrats pared part of their proposed minimum tax on huge corporations and made other changes in their giant economic bill, Senate Majority Leader Chuck Schumer said Friday, as they drove toward delivering a campaign-season victory to President Joe Biden on his domestic agenda. In an unusual peek at closed-door bargaining, Schumer, DN.Y., …

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White House stands by Inflation Reduction Act after CBO warns inflation won’t drop as a result

FOX Business’ Madison Alworth reports from the Jersey Shore. The White House is defending the Inflation Reduction Act against a report from the nonpartisan Congressional Budget Office that suggests the legislation will not meaningfully lower inflation in the coming years. “Could you address the new CBO analysis about the Inflation Reduction Act that says it …

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The US economy has yet to face its biggest recession challenge

A person removes the nozel from a pump at a gas station on July 29, 2022 in Arlington, Virginia. Olivier Douliery | AFP | Getty Images You’d be hard-pressed now to find a recession in the rearview mirror. What’s down the road, though, is another story. There is no historical precedent to indicate that an …

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Home sellers around the US are cutting prices, especially in these 10 US cities

During the pandemic, home sellers had the upper hand as droves of buyers competed for a limited pool of properties. But there are signs the tide is turning, as a growing number of sellers now cutting prices. About 1 in 7 listed properties had a price reduction in June — about double the rate from …

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US labor market deficits recession fears as job growth surges in July

Nonfarm payrolls increase 528,000 in July Unemployment rate falls to 3.5% from 3.6% in June Average hourly earnings rise 0.5%; up 5.2% year-on-year Participation rate falls to 62.1% from 62.2% in June WASHINGTON, Aug 5 (Reuters) – US job growth unexpectedly accelerated in July, lifting the level of employment above its pre-pandemic level and pouring …

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Opinion | Wonking Out: The Meaning of Falling Inflation

Inflation is coming down — fast. Gas prices, defying predictions of a nightmare summer for motorists, are leading the parade: The majority of gas stations in the United States are already charging less than $4 a gallonand declining wholesale prices suggest that retail prices still have farther to fall. Food prices are also coming down. …

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