The U.S. lost a stunning 22 million jobs in March and April at the beginning of the coronavirus pandemic, with only about half of those numbers returning in the following seven months. With weekly jobless claims remaining high, voters might want to know more about what former Vice President Joe Biden and President Donald Trump intend to do on the issue of labor.
Biden has pledged to do whatever it takes to help jobs recover through direct stimulus payments. His plan includes funding for state and local governments to keep essential workers on their payrolls and federal payouts to supplement state unemployment checks.
Meanwhile, Trump favors tax cuts and deregulation to stimulate the economy but concedes that another infusion of cash stimulus is likely needed. The president also extended federal unemployment benefits for six weeks after they were set to expire in July but at a lower rate of $300 a week, half the amount of the earlier benefit.
Both candidates support tax incentives for manufacturers to keep jobs at home. Biden even proposes tax penalties for those businesses that ship manufacturing jobs overseas with the intention of selling finished products back into the U.S.
Whoever wins the election in November faces a daunting task, with millions still out of work, consumer spending slowing down, and a resurgence in coronavirus cases adding to the economic woes.
Read More on Trump and Biden's Plans:
Trump vs. Biden on Raising the Federal Minimum Wage
Biden vs. Trump on Student Loans and Higher Education
The U.S. Treasury Department has changed the standard for what kind of electric vehicles qualify for a federal tax benefit under the Inflation Reduction Act.
New York Republican Rep. George Santos is temporarily stepping down from his congressional committee assignments amid ongoing investigations surrounding his fabrications.
British energy giant BP predicts that fossil fuels as a primary energy source will decline from 80 percent in 2019 to between 55 and 20 percent in 2050.
The costs of COVID-19 vaccines are expected to skyrocket once the government stops buying them, with Pfizer saying it will charge as much as $130 per dose, and millions of people are expected to be kicked off of Medicaid.
TikTok CEO Shou Zi Chew will testify before Congress in March about the app's security and its ties to China.
The House Speaker said he wants to address spending cuts along with raising the debt limit, even though the White House has ruled out linking those two issues together as the government tries to avoid a potentially devastating financial default.
The Federal Reserve's preferred gauge of inflation showed the pace of price increases is slowing.
Newly released video shows the husband of former U.S. House Speaker Nancy Pelosi fighting for control of a hammer with his assailant during a brutal attack in the couple’s San Francisco home last year.
The Biden administration released the "renters' bill of rights" as rent prices soar.
President Joe Biden touted the administration's economic achievements in a Virginia speech, while bashing Republicans for their handling of the nation's debt ceiling.
