Economy

Biden also said he wants to expand the child tax credit to help working families during the pandemic to give parents $3,000 per year for each child between the ages of 6 to 17, and $3,600 per child under age 6. He plans to expand access to refundable health premium tax credits, up to $8,000 annually in tax credits to help pay for child care. … [Read more...] about 4 ways Joe Biden plans to fix the economy

Most experts believe that the full $1.9 trillion package has little chance of becoming law, and is likely to be passed in some scaled back form. In addition to bipartisan support for the checks, there is also bipartisan opposition. Among the leading Democratic critics is Sen. Joe Manchin of West Virginia. … [Read more...] about Joe Biden’s proposed stimulus checks are a lousy way to fix the economy

These pro-investment endeavors have paid off. A recent MOC survey showed that profits of nearly 60 percent of foreign-invested firms in 2020 posted growth or remained flat compared with a year ago, with nearly 95 percent holding an optimistic attitude about future prospects. … [Read more...] about Economic Watch: China’s 2020 FDI hits record high amid recovering economy

"One of the lessons of 2009 was that the argument that you could start modestly and then keep adding if the economy did not improve ran into a political reality," Austan Goolsbee, a former Obama economic adviser, told CNN Business. "President-elect Biden was there. You can already see they're not going to repeat that scenario." … [Read more...] about Joe Biden wants to avoid the Obama era’s biggest economic mistake. Congress may not let him

There is some evidence that Covid-19 and an increase in working from home has resulted in people looking for bigger homes with a garden. The cost of the average detached home rose by 8.5% in the year to November, while flats and maisonettes went up by 5.4% over the same period. … [Read more...] about Why UK house prices jumped in November despite the economy