SAN SALVADOR—El Salvador has become the first country in the world to formally adopt bitcoin as legal tender after Congress approved President Nayib Bukele’s proposal to embrace the cryptocurrency. With 62 out of 84 possible votes, a majority of lawmakers voted in favor of the initiative to create a law that will formally adopt bitcoin,…
What Comes After Australia’s V-Shaped Economic Recovery?
Commentary The flow of economic data has so far made June a good news month for Australia, notwithstanding the abrupt resumption of COVID-19 restrictions had on economic activity in our second-largest state. National accounts—which provide the most comprehensive reading of the economic pulse—reported that the first quarter of 2021 was the third straight quarter of…
G7 Agrees on Global Minimum Corporate Tax, But Details Need Working Out
The world’s leading industrial nations reached an accord on June 5 to set a global minimum tax rate, in an effort to discourage multinational corporations from shifting profits to low-tax countries. While the accord is a significant breakthrough, for those seeking international agreement on corporate taxes, there is more work ahead. Group of Seven (G-7) nations…
G-7 Agrees on Global Minimum Corporate Tax, But Details Need Working Out
The world’s leading industrial nations reached an accord on June 5 to set a global minimum tax rate, in an effort to discourage multinational corporations from shifting profits to low-tax countries. While the accord is a significant breakthrough for those seeking international agreement on corporate taxes, there’s more work ahead. The Group of Seven (G-7) nations…
Chips Shortage Limits Auto Production in Brazil, Automakers Association Says
SAO PAULO—Automaker’s plants in Brazil have reached a “production ceiling” after the first five months of the year, below pre-pandemic levels, due to a shortage of computer chips, the South American nation’s automakers association said on Tuesday. A semiconductor shortage has been affecting the production of chips and may reduce the global number of automobiles…
US Job Openings Surge to Record 9.3 Million in April
WASHINGTON—U.S. employers posted a record 9.3 million job openings in April with the U.S. economy reopening at breakneck speed. The number of job openings soared 12 percent from the 8.3 million counted in March. But employers hired just 6.1 million, up one percent from March, according to a Labor Department report Tuesday, suggesting that positions…
15 Percent Global Corporate Tax ‘Very Significant Step Forward’: OECD Official
A top official at the Organization for Economic Cooperation and Development (OECD), which is hosting talks on a global corporate tax pushed by the Biden administration, said a 15 percent minimum rate would be a “very significant step forward” that still leaves countries with enough scope to compete to attract multinationals to their jurisdictions. OECD Secretary-General…
Inflation Pushing Interest Rates Higher Would Be Good for US: Yellen
Treasury Secretary Janet Yellen said that the trillions of dollars in President Joe Biden’s new spending proposals would be good for the United States even if it pushes inflation higher and leads the Fed to raise interest rates. “If we ended up with a slightly higher interest rate environment it would actually be a plus…
El Salvador’s President Says Will Send Bill to Make Bitcoin Legal Tender
SAN SALVADOR—El Salvador’s President Nayib Bukele said on Saturday that he will send a bill to Congress next week to make bitcoin legal tender in the Central American nation, touting its potential to help Salvadorans living abroad send remittances home. “In the short term this will generate jobs and help provide financial inclusion to thousands…
Biden’s Infrastructure Plan Would Be a Drag on Economic Growth: Tax Foundation
June 5, 2021
admin
American Jobs PlanBusinesseconomic growthEconomieseconomyExecutive Branchinfrastructure planPoliticsUSUS News
0 Comment
The combined tax and spend features of the Biden administration’s proposed infrastructure package—the American Jobs Plan (AJP)—would lead to weaker economic growth and fewer jobs, a tax policy think tank estimates. The Washington-based Tax Foundation, a nonpartisan group that often subjects high tax policies to critical scrutiny, said in a new analysis that the AJP would shave…
-
Recent Posts
-
Archives
- May 2025
- April 2025
- July 2023
- June 2023
- May 2023
- April 2023
- March 2023
- February 2023
- January 2023
- December 2022
- November 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- September 2013
- July 2013
- March 2013
- January 2013
- December 2012
- November 2012
- December 1
-
Meta