New York (CNNMoney) – When Congress returns from its five-week summer break in September, lawmakers will face some make-or-break fiscal issues that they have once again left to the last minute.
The stars seem aligned for an ugly fight over the federal budget, automatic spending cuts and the debt ceiling.FULL STORY
Washington (CNNMoney) – Obamacare would keep running even in a government shutdown, a new congressional report suggests.
The new health care law draws funding from sources that are not subject to the congressional budget process, according to the nonpartisan Congressional Research Service. Also, the revenue collected under Obamacare is considered to be part of a category that ensures the "safety of human life or the protection of property," which makes it immune to government shutdowns, the report said.FULL STORY
(CNN) – When the state-based insurance exchanges open next year under Obamacare, many Americans should finally have access to affordable insurance. But millions of others will most likely be left out in the cold and remain uninsured.
These folks - mainly low-income adults in the 21 states that aren't expanding Medicaid - will not be eligible for either the long-standing government health insurance program for the poor, or for premium subsidies in the new exchanges.FULL STORY
New York (CNNMoney) - Delaying the Obamacare employer mandate has simply put off rules business had already started adjusting to.
Under the Affordable Care Act, companies with 50-plus full-time employees must start offering them health insurance or face stiff penalties. The employer mandate had been set to kick in January 2014, but was pushed back a year.FULL STORY
New York (CNNMoney) - The job market made some headway last month, as hiring continued at a pace that beat expectations.
The economy added 195,000 new jobs in June, the Labor Department reported Friday, the same as the hiring pace in May, which was revised higher. Meanwhile, the unemployment rate remained unchanged at 7.6%.FULL STORY
Washington (CNNMoney) – Tampa homeowners probably need the government's help more than in other places.
After all, Florida's Tampa Bay reported the nation's third highest rate of foreclosures as recently as May. But those seeking in-person help from the government will be out of luck.FULL STORY
(CNN) – Top White House economic adviser Alan Krueger is leaving the Obama administration and returning to Princeton.
"I am deeply grateful to President Obama for the opportunity to serve twice in this administration,” Krueger, the chairman of the president's Council of Economic Advisers, said in a statement on Tuesday. "It has been one of the highest privileges of my life to serve the American people."
New York (CNNMoney) - The U.S. Senate is expected to vote on a long-debated Internet sales tax law Monday, paving the way for millions of consumers to start paying sales tax on online purchases.
The legislation would allow the 45 states (and the District of Columbia) that currently charge sales taxes to require large online retailers to collect tax on purchases made by their residents. The law would only apply to online sellers that have sales of at least $1 million in states where they don't have physical operations, like a store or a warehouse.FULL STORY
Washington (CNNMoney) – Upcoming furloughs mean a 20% pay cut for thousands of federal workers - and some tough budgeting choices. For many, student loan payments will be the first to go.
Laurie Vroman has already made her decision. She has three young children and makes $41,000 a year as a management assistant at an Army arsenal near Albany, N.Y.FULL STORY
New York (CNNMoney) – Millionaires would get a sizable tax cut if Rep. Paul Ryan's budget proposal were to become law.
Those with incomes exceeding $1 million would enjoy an average tax cut of more than $200,000, according to Citizens for Tax Justice, a left-leaning group. And it could be even bigger if Congress doesn't try to limit tax deductions, credits and preferences to offset the costs of the proposed tax cuts.FULL STORY