New York (CNNMoney) - Texas Governor Rick Perry has three words of advice for California businesses: Move to Texas.
Perry has launched a high-profile battle for California companies, running radio ads in California touting the Lone Star State's low taxes and favorable business climate. The ads will be heard in San Francisco, Sacramento, Los Angeles, San Diego and the Inland Empire area east of Los Angeles.FULL STORY
New York (CNNMoney) - Some 2.1 million jobless Americans are receiving their last federal unemployment checks this week if Congress doesn't extend the deadline to file for extended benefits.
And another 1 million who exhaust their state benefits in the first quarter of 2013 will never see a federal unemployment payment, according to the National Employment Law Project, an advocacy group.FULL STORY
New York (CNNMoney) - Sure, the rich would get hit hard by the fiscal cliff. But nearly everyone would feel the brunt of the tax hikes.
"Going over the fiscal cliff will raise taxes on 90% of Americans," said Roberton Williams, a senior fellow at the Tax Policy Center.
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New York (CNNMoney) – The return of the so-called marriage penalty could cost many couples more than $2,000 in higher 2013 taxes if Congress doesn't get its act together and fix the fiscal cliff.
As a result of the Bush tax cuts, married couples get a standard deduction that's exactly twice that of individuals. And the income ranges for the 10% and 15% tax brackets are also doubled. Prior to 2001, many married couples had paid a "penalty" because their standard deduction and income tax brackets were less than twice those of singles.FULL STORY
New York (CNNMoney) - As the fiscal cliff nears, the question remains whether policy makers will meaningfully address the biggest drivers of the national debt: Medicare, Social Security and Medicaid.
Experts say it's unlikely they will ... at least not in the next few weeks. The two sides have vastly different views on health care, with Democrats looking to avoid benefit cuts and Republicans focused on limiting the federal government's liability.FULL STORY
New York (CNNMoney) – Hiring increased last month, while the unemployment rate ticked higher, according to a report released just four days before the presidential election.
The economy added 171,000 jobs in October, while the unemployment ticked up to 7.9, from 7.8% in September, the Labor Department said Friday.
New York (CNNMoney) - Private sector hiring jumped in October, according to a report released Thursday by payroll processor ADP.
Private employers added 158,000 jobs in the month, ADP said, beating economists' forecasts of 143,000.FULL STORY
New York (CNNMoney) - The October jobs report will come out on Friday morning as scheduled, the Department of Labor announced Wednesday.
With Superstorm Sandy closing federal offices for two days, the department's ability to produce the highly-anticipated report was thrown into doubt. The report will provide a last look at the health of the job market before Tuesday's presidential election.FULL STORY
(CNNMoney) - House Republicans want to overhaul the nation's safety net by turning Medicaid and food stamps into block grants and making recipients work for certain benefits.
This would reduce the financial burden on the federal government, allow the states greater flexibility to adjust the programs and give the poor a more solid ladder to rise to the middle class, they say.FULL STORY