Author: Zachary Halaschak

Sen. Elizabeth Warren, D-MA, reintroduced legislation on Tuesday designed to rake in trillions of dollars in tax revenue by targeting “ultra-millionaires” worth more than $50 million. Warren first introduced the legislation in 2019. This time around, co-sponsors includes Sen. Bernie Sanders, I-VT. Progressive Caucus Chairwoman Pramila Jayapal, D-WA, and Rep. Brendan Boyle, D-PA, are leading…

Wholesale inflation, as measured by the producer price index, declined slightly to 0.9% for the year ending in January but was higher than expected. The one-tenth of a percentage point decline came after an increase the month before. Most economists had forecast annual wholesale inflation would fall to 0.6%, so it isn’t welcome news for the economy, which has…

Treasury Secretary Janet Yellen introduced Wednesday a plan to pay for President Joe Biden’s $2 trillion spending package by raising corporate tax rates and cracking down on evasion of taxes on corporate foreign earnings. The most major change in the tax proposal, which has been dubbed the “Made in America” plan, is to hike the…