Mnuchin Plans to End Some Emergency Fed Facilities

The Treasury Department asked the Federal Reserve to return unused funds, which could prevent a new secretary from restarting key loan programs.

#coronavirus-2019-ncov, #credit-and-debt, #federal-aid-us, #federal-reserve-system, #mnuchin-steven-t, #treasury-department, #united-states-politics-and-government

0

State and City Governments Are Too Big to Fail

Together, they employ about 23 million essential workers. But the pandemic has pushed them to the brink. President-elect Biden needs to step in now.

#biden-joseph-r-jr, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-aid-us, #house-of-representatives, #metropolitan-transportation-authority, #new-york-city, #new-york-state, #politics-and-government, #property-taxes, #real-estate-commercial, #states-us, #stimulus-economic, #united-states-politics-and-government

0

For Small-Business Owners, a Shifting Landscape of Resources

With the end of the Paycheck Protection Program loan program, entrepreneurs are forced to look elsewhere.

#banking-and-financial-institutions, #coronavirus-2019-ncov, #federal-aid-us, #nonprofit-organizations, #small-business

0

Economic Demands Test Biden Even Before Inauguration

With the recovery slowing and coronavirus cases surging, Democrats must decide whether quick action on federal aid is more important than its scale.

#biden-joseph-r-jr, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #democratic-party, #federal-aid-us, #house-of-representatives, #recession-and-depression, #republican-party, #senate, #stimulus-economic, #united-states-economy, #united-states-politics-and-government

0

The Coronavirus Pandemic Is Showing Us How Capitalism Is Amazing, and Inadequate

Why big business needs big government and vice versa.

#capitalism-theory-and-philosophy, #coronavirus-2019-ncov, #federal-aid-us, #pfizer-inc, #public-private-sector-cooperation, #united-states-economy

0

What Biden’s Election Could Mean for Student Loans

The incoming administration has proposed a series of changes that could affect more than 42 million student loan borrowers. Here’s what to expect.

#biden-joseph-r-jr, #colleges-and-universities, #corinthian-colleges-inc, #democratic-party, #devos-elizabeth-1958, #education-k-12, #federal-aid-us, #for-profit-schools, #law-and-legislation, #obama-barack, #personal-bankruptcies, #personal-finances, #presidential-election-of-2020, #student-loans, #warren-elizabeth

0

For Millions Deep in Student Loan Debt, Bankruptcy Is No Easy Fix

It’s an extremely difficult debt to discharge, and only a few hundred people a year even try. Here are the stories of some who succeeded — mostly.

#colleges-and-universities, #credit-and-debt, #education-department-us, #educational-credit-management-corp, #federal-aid-us, #personal-bankruptcies, #student-loans, #united-states-politics-and-government

0

How a Quick Stimulus Has an Increased Chance in Divided Government

Congressional leaders and business groups are raising the possibility of new economic aid from Congress in the lame-duck session.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #elections-house-of-representatives, #elections-senate, #federal-aid-us, #house-of-representatives, #law-and-legislation, #presidential-election-of-2020, #senate, #stimulus-economic, #united-states-economy, #united-states-politics-and-government

0

M.T.A. Slashes in Service Could Erase 450,000 Jobs

A new report found that service cuts could cost the New York metropolitan area 450,000 jobs by 2022, resulting in $50 billion in lost earnings.

#budgets-and-budgeting, #coronavirus-2019-ncov, #federal-aid-us, #layoffs-and-job-reductions, #metropolitan-transportation-authority, #new-york-city, #new-york-metropolitan-area, #new-york-university, #subways, #transit-systems

0

New York Sues Trump Over ‘Anarchist’ Label

New York City, Seattle and Portland, Ore., all so-called “anarchist jurisdictions,” are trying to stop the Trump administration from withholding federal funds.

#coronavirus-2019-ncov, #federal-aid-us, #federal-state-relations-us, #george-floyd-protests-2020, #new-york-city, #portland-ore, #presidential-election-of-2020, #seattle-wash, #suits-and-litigation-civil, #trump-donald-j

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The Fed’s $4 Trillion Lifeline Never Materialized. Here’s Why.

The Federal Reserve was meant to take $454 billion and drastically expand it. So far, it has lent $20 billion.

#banking-and-financial-institutions, #coronavirus-aid-relief-and-economic-security-act-2020, #credit-and-debt, #federal-aid-us, #federal-budget-us, #federal-reserve-system, #house-of-representatives, #interest-rates, #local-government, #mnuchin-steven-t, #regulation-and-deregulation-of-industry, #senate, #stocks-and-bonds, #treasury-department, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

0

Stimulus Deal: Pelosi Reports Progress as McConnell is Against Proposal

The top Senate Republican told colleagues that he had advised the White House against striking a pre-election deal with Democrats to deliver pandemic aid, fearing political repercussions.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-aid-us, #mcconnell-mitch, #mnuchin-steven-t, #pelosi-nancy, #republican-party, #senate, #stimulus-economic, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

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McConnell Moves to Head Off Stimulus Deal as Pelosi Reports Progress

The top Senate Republican told colleagues that he had advised the White House against striking a pre-election deal with Democrats to deliver pandemic aid, fearing political repercussions.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-aid-us, #mcconnell-mitch, #mnuchin-steven-t, #pelosi-nancy, #republican-party, #senate, #stimulus-economic, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

0

New Stimulus Hopes Fade While Economic Risks Grow

President Trump cut off negotiations over a new aid package on Tuesday. Economists of all stripes agree that could be a costly mistake.

#coronavirus-aid-relief-and-economic-security-act-2020, #democratic-party, #federal-aid-us, #federal-taxes-us, #labor-and-jobs, #layoffs-and-job-reductions, #recession-and-depression, #republican-party, #small-business, #stimulus-economic, #trump-donald-j, #unemployment, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government

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Lumberjack, Tailor, Counselor, Host: A Hotel Owner Does It All During the Pandemic

The head of a family business is trying to keep eight hotel properties afloat despite fewer travelers and worried lenders. He may not succeed.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #credit-and-debt, #federal-aid-us, #hotels-and-travel-lodgings, #montu-patel, #small-business, #travel-and-vacations

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‘We’re at War’: New York City Faces a Financial Abyss

The pandemic has crippled tourism, retail and the culture sector. The damage could last years, and layoffs, service cuts and added debt are all on the table.

#budgets-and-budgeting, #coronavirus-2019-ncov, #credit-and-debt, #federal-aid-us, #new-york-city, #politics-and-government

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Workers Face Looming Cutoffs in Health Insurance

Coverage is a major expense for employers, especially those in small businesses, as they deal with the pandemic’s economic fallout. Many may face end-of-year renewal deadlines that are harder and harder to afford.

#coronavirus-2019-ncov, #federal-aid-us, #health-insurance-and-managed-care, #layoffs-and-job-reductions, #patient-protection-and-affordable-care-act-2010, #small-business, #supreme-court-us, #your-feed-healthcare

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As Covid-19 Looms, Some Workers Face Loss of Health Insurance

Coverage is a major expense for employers, especially those in small businesses, as they deal with the pandemic’s economic fallout. Many may face end-of-year renewal deadlines that are harder and harder to afford.

#coronavirus-2019-ncov, #federal-aid-us, #health-insurance-and-managed-care, #layoffs-and-job-reductions, #patient-protection-and-affordable-care-act-2010, #small-business, #supreme-court-us, #your-feed-healthcare

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Unemployment Claims Rise as Job Rebound Loses Momentum

New filings for unemployment benefits rose last week, signaling continued layoffs even before autumn chills outdoor business.

#coronavirus-2019-ncov, #federal-aid-us, #labor-and-jobs, #labor-department-us, #layoffs-and-job-reductions, #states-us, #unemployment, #unemployment-insurance, #united-states-economy

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U.S. Risks Repeating 2009 Mistakes as Economic Recovery Slows

In the wake of the last recession, government spending dried up, dragging out the recovery. Policymakers warn against letting it happen again.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-aid-us, #house-of-representatives, #law-and-legislation, #layoffs-and-job-reductions, #recession-and-depression, #senate, #stimulus-economic, #unemployment, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government

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Trump Uses E.P.A. Office to Widen ‘Anarchist’ War vs. New York

The president has painted New York as an “anarchist jurisdiction,” but his administration’s threats to withhold funds are being dismissed as a politicized campaign tactic.

#barr-william-p, #environmental-protection-agency, #federal-aid-us, #new-york-city, #presidential-election-of-2020, #relocation-of-business, #trump-donald-j, #wheeler-andrew-r

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Why Does Trump Want an Inaccurate Census?

Congress must extend the deadline for the count.

#census, #census-bureau, #constitution-us, #daines-steve, #executive-orders-and-memorandums, #federal-aid-us, #house-of-representatives, #mcconnell-mitch, #murkowski-lisa, #redistricting-and-reapportionment, #sullivan-daniel-scott-1964, #trump-donald-j, #united-states-politics-and-government

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Hopes Dim for More Stimulus as Democrats Block Narrow G.O.P. Plan

A show vote in the Senate reflected a continuing partisan divide that appears increasingly likely to scuttle any recovery package to address the toll of the pandemic before the November election.

#democratic-party, #federal-aid-us, #mcconnell-mitch, #mnuchin-steven-t, #pelosi-nancy, #republican-party, #senate, #stimulus-economic, #trump-donald-j, #united-states-politics-and-government

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Hopes Dim for Second Stimulus as Democrats Block Narrow GOP Plan

A show vote in the Senate reflected a continuing partisan divide that appears increasingly likely to scuttle any recovery package to address the toll of the pandemic before the November election.

#democratic-party, #federal-aid-us, #mcconnell-mitch, #mnuchin-steven-t, #pelosi-nancy, #republican-party, #senate, #stimulus-economic, #trump-donald-j, #united-states-politics-and-government

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Justice Dept. Announces Dozens of Fraud Charges in Small-Business Aid Program

Fifty-seven people were charged with trying to steal more than $175 million from the Paycheck Protection Program, law enforcement officials said.

#banking-and-financial-institutions, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-aid-us, #frauds-and-swindling, #jpmorgan-chasecompany, #justice-department, #small-business, #small-business-administration, #stimulus-economic, #united-states-politics-and-government

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Strike. This Could Be Our Last Stand.

If we can’t get our government to help us now, when will we ever?

#coronavirus-aid-relief-and-economic-security-act-2020, #federal-aid-us, #income-inequality, #labor-and-jobs, #recession-and-depression, #strikes, #unemployment, #united-states-economy, #wages-and-salaries

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Selling the Census Last Minute, With Cowboys and Sudoku

Worried that people won’t be counted, community groups and local governments are spending big to get the word out. “It’s an absolute panic,” one executive said.

#advertising-and-marketing, #census, #census-bureau, #federal-aid-us, #income-inequality, #local-government, #mobile-applications, #telemundo-communications-group-inc, #united-states-politics-and-government, #univision

0

Less Music, More Trash: Cities and States Line Up Billions in Cuts

With lawmakers in Washington at odds over sending more aid, local officials are slashing funding for everything from orchestra subsidies to composting to education.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #cuomo-andrew-m, #democratic-party, #federal-aid-us, #finances, #local-government, #mcconnell-mitch, #moodys-investors-service-inc, #republican-party, #states-us, #trump-donald-j, #united-states-politics-and-government

0

Job Growth Slackens, Signaling Vulnerability of Recovery

Unemployment fell to 8.4% in August, but the gain of 1.4 million jobs was the weakest in months. The end of federal aid programs is casting a shadow.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-aid-us, #labor-and-jobs, #labor-department-us, #layoffs-and-job-reductions, #recession-and-depression, #unemployment, #united-states-economy

0

Trump Moves to Cut Federal Funding From Democratic Cities

The president directed officials to identify “anarchist jurisdictions” and move to withhold funds as he tries to build his campaign around the unrest that has accompanied racial justice protests.

#black-lives-matter-movement, #federal-aid-us, #federal-budget-us, #george-floyd-protests-2020, #new-york-city, #police-brutality-misconduct-and-shootings, #police-reform, #portland-ore, #presidential-election-of-2020, #race-and-ethnicity, #seattle-wash, #trump-donald-j, #urban-areas, #washington-dc

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‘That Kept Us Going’: Small Businesses Stay Alive With Local Help

Cities big and small know they can’t rely on federal stimulus to support their entrepreneurs, so they are finding innovative ways to keep them afloat.

#akron-ohio, #buyers-giovy, #charlotte-nc, #coronavirus-aid-relief-and-economic-security-act-2020, #dean-charity, #detroit-mich, #federal-aid-us, #labor-and-jobs, #lewis-pam, #marshall-nya, #metropolitan-policy-program-brookings-institution, #new-economy-initiative, #parilla-joseph, #philanthropy, #small-business, #united-states-economy

0

Small-Business Failures Loom as Federal Aid Dries Up

Many owners face tough choices after a federal loan program and other government moves to bolster the economy have run their course.

#bankruptcies, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-aid-us, #shutdowns-institutional, #small-business, #stimulus-economic, #united-states-economy

0

Trump Program to Cover Uninsured Covid-19 Patients Falls Short of Promise

Some patients are still receiving staggering bills. Others don’t qualify because conditions other than Covid-19 were their primary diagnosis.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-aid-us, #health-insurance-and-managed-care, #hospitals, #medicaid, #trump-donald-j, #united-states-politics-and-government, #your-feed-healthcare

0

Spotting $62 Million in Alleged P.P.P. Fraud Was the Easy Part

Investigators have charged big spenders with cheating the Paycheck Protection Program for small businesses. But more fraud lies below the surface, and it’ll be harder to find.

#federal-aid-us, #frauds-and-swindling, #inspectors-general, #paycheck-protection-program, #small-business, #small-business-administration, #treasury-department

0

Extra $300 Stimulus Unemployment Payment: Who Will Get It and When?

President Trump’s stopgap program to get more money to the jobless is off to a slow start. Here’s how it works.

#coronavirus-2019-ncov, #federal-aid-us, #federal-emergency-management-agency, #labor-and-jobs, #states-us, #trump-donald-j, #unemployment, #unemployment-insurance, #united-states-economy

0

The Recession Is About to Slam Cities. Not Just the Blue-State Ones.

Those with budgets that rely heavily on tourism, sales taxes or direct state assistance will face particular distress.

#budgets-and-budgeting, #coronavirus-2019-ncov, #federal-aid-us, #local-government, #recession-and-depression, #sales-and-excise-taxes, #states-us, #taxation

0

$400 Unemployment Supplement Is Really $300, and Won’t Arrive Soon

New state claims fell below one million for the first week since March. But jobless ranks remain vast, and a White House relief plan faces hurdles.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #executive-orders-and-memorandums, #federal-aid-us, #law-and-legislation, #states-us, #stimulus-economic, #trump-donald-j, #unemployment, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government

0

Administration Officials Defend Executive Action on Pandemic Relief

Democrats criticized President Trump’s directives and called on top administration officials to resume talks over a broader agreement.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #democratic-party, #executive-orders-and-memorandums, #federal-aid-us, #federal-budget-us, #federal-taxes-us, #house-of-representatives, #kudlow-lawrence-a, #labor-and-jobs, #mnuchin-steven-t, #payroll-tax, #pelosi-nancy, #schumer-charles-e, #senate, #small-business, #stimulus-economic, #treasury-department, #trump-donald-j, #unemployment, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government

0

Amid Dire Jobless Numbers, Small-Business Relief Program Nears End

The Paycheck Protection Program provided respite for hard-hit small businesses, but it is ending soon. With no word on further government help, owners worry about their fate.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-aid-us, #layoffs-and-job-reductions, #small-business, #small-business-administration, #united-states-economy

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Coming Next: The Greater Recession

The suspension of federal benefits would create damage almost as terrifying as the economic effects of the coronavirus.

#coronavirus-2019-ncov, #federal-aid-us, #gross-domestic-product, #layoffs-and-job-reductions, #mcconnell-mitch, #trump-donald-j, #united-states-economy

0

Small Businesses Got Emergency Loans, but Not What They Expected

The S.B.A.’s disaster relief program allows for loans of up to $2 million. But now they’re capped at $150,000 — and agency officials are saying little about why.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-aid-us, #small-business, #small-business-administration, #united-states-politics-and-government

0

Kodak C.E.O. Got Stock Options Day Before News of Loan Sent Stock Soaring

The stock options suddenly were worth about $50 million — the latest instance of extraordinary good timing by corporate executives.

#continenza-jim, #drugs-pharmaceuticals, #eastman-kodak-company, #executive-compensation, #federal-aid-us, #stock-options-and-purchase-plans, #stocks-and-bonds, #united-states-politics-and-government

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Why Hunger Can Grow Even When Poverty Doesn’t

The two issues are linked, but during the coronavirus pandemic the relationship is not always simple.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-aid-us, #finances, #food, #food-banks-and-pantries, #food-insecurity, #food-stamps, #illegal-immigration, #immigration-and-emigration, #income, #poverty, #recession-and-depression, #stimulus-economic, #trump-donald-j, #united-states-economy, #united-states-politics-and-government, #wages-and-salaries

0

Facing Financial Crisis, New York’s MTA Subway Braces For Deep Cuts

The transit agency will announce budget cuts on Wednesday. Officials are hoping federal assistance will help ease the crisis that the pandemic has created.

#budgets-and-budgeting, #coronavirus-2019-ncov, #federal-aid-us, #foye-patrick-j, #layoffs-and-job-reductions, #manhattan-institute, #metropolitan-transportation-authority, #new-york-city, #new-york-university, #prices-fares-fees-and-rates, #reinvent-albany, #riders-alliance, #subways, #transit-systems

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Special Interests Mobilize to Get Piece of Next Virus Relief Package

Congress is about to start negotiating in earnest over another round of stimulus, and a frenzy of lobbying is already underway.

#airlines-and-airplanes, #campaign-finance, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-aid-us, #hotels-and-travel-lodgings, #house-of-representatives, #labor-and-jobs, #lobbying-and-lobbyists, #mcconnell-mitch, #real-estate-and-housing-residential, #restaurants, #schumer-charles-e, #senate, #small-business, #trump-donald-j, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government

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How to Save a Half-Open Economy

It may take months or even years to recover its vigor. Here’s how economists say the government could help.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #coronavirus-reopenings, #economics-theory-and-philosophy, #federal-aid-us, #labor-and-jobs, #law-and-legislation, #recession-and-depression, #shutdowns-institutional, #unemployment, #unemployment-insurance, #united-states-economy

0

Black Business Owners Had a Harder Time Getting Federal Aid, a Study Finds

A nonprofit sent Black and white “mystery shoppers” to branches of 17 banks, where they asked for loans under the Paycheck Protection Program. White customers got better treatment.

#banking-and-financial-institutions, #black-people, #coronavirus-aid-relief-and-economic-security-act-2020, #discrimination, #federal-aid-us, #income-inequality, #national-community-reinvestment-coalition, #nonprofit-organizations, #research, #small-business

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A Resurgence of the Virus, and Lockdowns, Threatens Economic Recovery

Hopes for a rebound are endangered by prolonged closures of schools, renewed state restrictions on business and fears of a difficult autumn and winter.

#autumn-season, #child-care, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #coronavirus-reopenings, #disease-rates, #education-k-12, #federal-aid-us, #labor-and-jobs, #layoffs-and-job-reductions, #recession-and-depression, #shutdowns-institutional, #small-business, #unemployment, #united-states-economy, #united-states-politics-and-government

0

Monthly U.S. Budget Deficit Soared to Record $864 Billion in June

The shortfall was nearly as large as the entire 2019 deficit as spending on virus-related efforts outpaced revenues.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-aid-us, #federal-budget-us, #house-of-representatives, #senate, #united-states-economy, #united-states-politics-and-government

0

Coronavirus Surge Is Killing America’s Small Businesses

More owners are permanently shutting their doors after new lockdown orders, realizing that there may be no end in sight to the crisis.

#california, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #coronavirus-reopenings, #federal-aid-us, #paycheck-protection-program, #quarantines, #shutdowns-institutional, #small-business, #small-business-administration, #texas

0