Jobless Claims Fall to Pandemic Low

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 »

Ending ERTC Early Could Overtax IRS, Group Says

A provision in the Senate-passed infrastructure bill to end the employee retention tax credit (ERTC) after September will put strain on an already under-resourced IRS, according to the Professional Managers Association. The bill would end the ERTC on Sept. 30 instead of the current Dec. 31 expiration date, raising an estimated $8.2 billion to help… Read more »

Senate Narrowly Passes Budget Resolution

After easily advancing a $1 trillion infrastructure bill, the Senate passed Democrats’ budget resolution yesterday on a 50-49 party line vote after a marathon vote-a-rama. The budget resolution lays the groundwork for Democrats’ massive $3.5 trillion social spending package that is intended to combat climate change, boost federal safety net programs and expand Medicare, among… Read more »