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A jobs crisis, collapsing asset prices, 'adverse' tech advances and WMDs are real risks in the 2020s, according to Davos organisers the World Economic Forum (WEF).
The "Second-Life Automotive Lithium-Ion Battery Market Research Report: By Type, Vehicle Type, Application - Global Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
As you take a closer look at your financial footing amid the headwinds of a pandemic, it’s an excellent time to examine the possible impact of a Joe Biden presidency on money matters. The balance of Congress has shifted following the Georgia runoffs, providing possible momentum for President Biden’s agenda. A new COVID check, taxes, health care — it’s all on the line. Here’s how. A SHORT FUSE ON ANOTHER ROUND OF STIMULUS CHECKS Look for another round of pandemic relief shortly after Biden’s inauguration, says Bernard Yaros Jr., an economist with Moody’s Analytics. “In February, we expect that there’s going to be a COVID-specific relief package,” Yaros says. That measure will likely once again extend unemployment insurance benefits, with enough support for another round of checks issued to Americans, “whether it’s 2K or slightly lower,” he says. Small businesses are likely to receive more grants and forgivable loans, as well. “And we’re also thinking, you would probably get some additional funding for rental assistance,” Yaros adds. MOVING FROM RELIEF TO STIMULUS With Democrats gaining two seats in the Senate from the Georgia runoffs, there is now a greater possibility of moving from “relief” to “stimulus” mode in late 2021. “That’s because now that the Democrats have a simple majority in the Senate. They can pass changes to the tax code as well as implement changes in spending,” Yaros says. Moody’s Analytics economists expect the Biden administration will dedicate increased funding for enhancements to “social safety nets,” possibly including: — Expanding eligibility for Medicare. — Retooling Obamacare into Bidencare. — Rolling out paid sick leave protections. — Offering universal pre-K for 3- and 4-year-olds. — Providing some kind of student debt forgiveness. But on these initiatives, Democrats will “have to pick and choose,” Yaros says. “Among the more moderate Democrats, they’re not going to want to increase the deficit too much. That’s obviously going to be a limiting factor,” he adds. And while Vice-President Kamala Harris holds the deciding vote in the event of a Senate tie, the 50-50 split between Democrats and Republicans doesn’t constitute filibuster-proof power. REVERSING TRUMP TAX CUTS Higher taxes are expected to partially fund the widening of these social safety nets. Yaros says Biden is likely to succeed in reversing Trump’s tax cuts, raising the corporate income tax rate to 28%, increasing the tax rate for taxable incomes of more than $400,000 and eliminating some tax breaks for those making more than $1 million. But the tax hikes may be smaller than widely anticipated, says Michael Zezas, head of U.S. public policy research at Morgan Stanley. “In a Senate where Democrats have the slimmest majority possible, any one Democratic senator effectively has a veto. And when it comes to taxes, we expect many of the Biden administration’s proposed taxes won’t pass muster with Democratic moderates,” Zezas says in an analysis. “We estimate about $500 billion of tax increases are possible, obviously a smaller number than another potential COVID stimulus round, and also smaller than the $1 trillion-plus spending now in play for each of health care and infrastructure,” Zezas added. Even if Biden can swing the tax hikes, they aren’t expected to kick in until 2024, Yaros says, “to make sure that there’s no fiscal drag, at all, on the economy in these next couple of years when we’re still digging ourselves out of the pandemic.” REVISING RETIREMENT PLANS Joe Biden also has some ideas to reshape employer-sponsored retirement plans. One of those proposals is to equalize the tax benefit of contributing to a retirement plan so that “higher-income earners aren’t getting more of the benefit than the lower-income workers, that it’s standard across the board,” says Anne Tyler Hall, founder and principal of Hall Benefits Law. For example, someone in a 37% tax bracket is able to deduct the full amount of a retirement plan contribution; so $37 for every $100 pre-tax contribution. That’s a greater tax benefit than someone in a lower tax bracket, such as 20%, who would receive a $20 deduction for each $100 pre-tax contribution. The idea proposed by the Biden administration is to offer a tax credit to low- and moderate-income workers, resulting in an equal tax benefit. Democrats are also pushing for employers to make retirement saving easier for the U.S. workforce. “Employers who don’t offer retirement plans would be required to allow employees to make contributions to individual retirement accounts, IRAs,” Hall says. “Contributions to the IRAs would come directly from paychecks.” With the shift of balance in Congress, Hall says such changes may be more likely. Plus, “some of these provisions have bipartisan support,” she adds. RELATED LINKS: Georgia Changes the Game https://www.morganstanley.com/ideas/thoughts-on-the-market-zezas Budgeting 101: How to Budget Money http://bit.ly/nerdwallet-budget-101 Hal M. Bundrick Of Nerdwallet, The Associated Press
New York, New York--(Newsfile Corp. - January 20, 2021) - The following statement is being issued by Levi & Korsinsky, LLP:To: All persons or entities who purchased or otherwise acquired securities of Qiwi plc ("Qiwi") (NASDAQ: QIWI) between March 28, 2019 and December 9, 2020. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Eastern District of New York. To get more ...
Trade group UKHospitality has written to the Chancellor demanding further targeted financial support.
Daimler AG's Mercedes-Benz on Wednesday unveiled the EQA, a new electric compact SUV as part of plans to take on rival Tesla Inc and offer more emission-free vehicles to consumers to meet targets in Europe and China. The EQA, the first of several electric models Mercedes-Benz plans to launch this year, will initially have a range of 426 kilometres (265 miles), with a 500km model coming later, the premium brand carmaker said in a video presentation.
The driver managed to escape without any injuries.
The Higher Education Market will grow by $ 37.82 bn during 2020-2024
The southern African state has recorded a surge in cases since the end of the festive season.
Jones is not displaying any symptoms.
Many investors want to shoot for the moon with some portion of their stock portfolio, but it's rare to find a stock with massive upside that the market has completely overlooked. You usually have to assume some level of risk in exchange for major potential, but that's a fair trade for growth investors who can tolerate some volatility. If you are the type of investor who wants to hold some high-risk, high-reward stocks, then the following three might be right for you.
The "Global Casing Market (Collagen, Cellulose, Fibrous, Plastic & Natural): Insights & Forecast with Potential Impact of COVID-19 (2020-2024)" report has been added to ResearchAndMarkets.com's offering.
Millions across the world will be tuning in today as Joe Biden is sworn in as the 46th President of the United States. This year's Inauguration Day will differ from those in the past. Previous events sometimes drew over a million spectators to Washington DC's National Mall, to watch the ceremony from giant television screens and the new president parading on foot from the Capitol to the White House.
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The whole world is watching as President-elect Joe Biden prepares to be sworn in – and President Donald Trump departs the White House one last time, turning the page on an administration that has hurt America's image abroad.
It’s being dubbed as the worst employment creation since the Great Depression
The Home Secretary’s comments are contrary to her public defence of the Government’s decision not to enact a full arrivals shutdown.
Across the UK, one in every 84 mortgages was subject to a payment deferral at the end of last year, compared with one in six in June 2020.
Analysis of blood taken from trial participants suggests Pfizer jab can overcome number of genetic changes present within Sars-CoV-2
Speaking on STAR Sports' show ‘IPL: RETENTION SPECIAL’, former India cricketer and columnist Aakash Chopra said Chennai Super Kings desperately needed to get rid of dead weight.