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Vote in Senate Starts Talks on Extending Unemployment Benefits
The three-month extension of benefits passed with no room to spare, on a vote of 60 to 37, and some of the six Republicans who voted yes made clear that they wanted the $6.4 billion cost paid for through cuts elsewhere in the budget. Still, even getting the Senate on to the bill was a victory for President Obama and Democratic leaders, who have tried for weeks to steer away from health care and budget wrangling and onto pocketbook issues, which they say they will use to try to frame the … [Read More...]
Tax Break as a Not-So-Secret Weapon
The tax break wars are heating up again, as New Jersey aggressively pushes a revamped program to encourage businesses to stay or move within its borders. The retooled tax credit is called Grow New Jersey, a consolidation and expansion of several previous programs. Some companies, even those already in the state, might be eligible for as much as $300 million in tax credits per project. The state’s neighbors, particularly New York and Pennsylvania, are not taking the … [Read More...]
Low Inflation Worries the Euro Zone
Prices in the 17 European Union member states that were using the euro in 2013 rose in December at an annual rate of only 0.8 percent, Eurostat, the European Union statistical agency, reported on Tuesday in a first estimate that will be subject to revision in the weeks ahead. The December figure, which did not include Latvia since it adopted the euro on Jan. 1, was slightly lower than the 0.9 percent annual inflation rate for November. The European Central Bank seeks to keep price growth … [Read More...]
In Jobless Youth, Nation Is Said to Pay High Price
“The key takeaway here is that it’s not just the individuals who are suffering as members of our generation,” said Rory O’Sullivan, the policy and research director of the Young Invincibles, a postrecession youth advocacy group, which did the study. “When you have an entire generation of people that are out of work, it’s going to create tremendous costs for taxpayers both now and in the future.” Fifteen percent of workers ages 16 to 24 are unemployed, compared with 7.3 percent of all … [Read More...]