Key Democrats poured cold water on President Donald Trump’s proposal to include a payroll tax cut as part of his plan to respond to the coronavirus. Senior Republicans also held back from endorsing the suggestion ahead of a key lunch meeting on Tuesday.
The president will seek a payroll tax cut and “very substantial relief” for industries that have been hit by the virus, reversing course on the need for economic stimulus hours after markets posted their worst losses in more than a decade.
Chairman Patrick Foye says that the outbreak has no material effect for now, and the authority promises to continue timely disclosure.
In budget talks, House Speaker José Oliva says lawmakers will discuss how to prepare for a recession that may result from the economic impacts of COVID-19.
The banking regulators have announced that they are postponing next week’s National Interagency Community Reinvestment Conference because of growing health concerns about the virus outbreak.
The Securities and Exchange Commission is giving “conditional” regulatory relief from certain filing obligations for public companies due to the outbreak.
In announcing the central bank’s emergency rate cut, Chairman Jerome Powell warned that the Fed can only do so much.
The world’s pile of negative-yielding debt has grown as the economic backdrop soured and fears of a pandemic mounted.
In light of this new global challenge, what do these businesses and their tax professionals need to consider?
Looming state budget cuts combined with the COVID-19 threat could have a negative impact on NYC's economy.