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Table of Contents Key Findings The American Rescue Plan Act’s restriction on states’ Fiscal Recovery Funds being used to directly or indirectly offset a net tax cut is vague and raises difficult questions of interpretation and application. A broad interpretation of this prohibition may be unconstitutional. This restriction potentially implicates a wide range of tax
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People view yachts during the Miami International Boat Show in Miami, Florida, United States on February 14, 2020. Marco Bello | Anadolu Agency | Getty Images Boat sales skyrocketed last year during the coronavirus pandemic as more Americans turned to the lifestyle amid more flexible work environments that allowed people to spend extra time enjoying
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Getty Images Watching your retirement account grow can be exhilarating. However, if it’s a 401(k) or individual retirement account holding pre-tax contributions, don’t forget Uncle Sam owns a portion of the balance you see.  “All too often, investors look at their traditional 401(k) statement forgetting that they have a partner invested there alongside them,” said
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As more companies announce diversity and inclusion measures, Ariel Investments’ co-CEO Mellody Hobson believes there’s a simple way to hold corporations accountable: math. “Math has no opinion — have the math. The only way you can do that is commit to having an annual review of these issues to see where you’re gaining ground, where
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Amazon.com delivery trucks in Richmond, California, U.S., on Tuesday, Oct. 13, 2020. David Paul Morris | Bloomberg | Getty Images Given the current financial environment, which strategy can investors use to pinpoint compelling opportunities? Despite inflation concerns, there are still stocks poised to outperform. One way to find them is by following the recommendations of
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Families with children will see a significant increase in their maximum child tax credit (CTC) in 2021 thanks to the American Rescue Plan Act (ARPA) expanding child-related tax benefits. President Biden is now exploring how to make the ARPA’s temporary expansion of the CTC permanent. Whether and how lawmakers choose to finance a permanent expansion
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NFL executive Brian Rolapp told CNBC on Friday the league’s new blockbuster media deal offers a chance to enhance the viewing experience for fans through digital streaming. The broadcast pact features Amazon Prime Video as the exclusive provider of Thursday Night Football games beginning in 2023, the first all-digital package in the league’s history. Four
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Gabriela Bhaskar | Bloomberg | Getty Images The $1,400 stimulus checks are hitting Americans’ bank accounts, but Bank of America doesn’t expect the fiscal aid to spur speculative trading in GameStop’s stock. Since the GameStop trading mania that took place in January, the Wall Street firm’s predictive analytics team has been monitoring non-fundamental factors in
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Members of the Ohio National Guard at the Mid Ohio Foodbank in Columbus. Due to the ongoing Covid-19 pandemic and rising unemployment, demand placed on food banks around the U.S. has grown rapidly. Matthew Hatcher | SOPA Images | Getty Images The $1.9 trillion American Rescue Plan signed into law by President Joe Biden on
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Traffic passes along the Champs Elysee avenue near the Arc de Triomph in Paris, France, on Friday, March 19, 2021. French President Emmanuel Macron is locking down several regions including the Paris area, slowing down the countrys economic recovery as it struggles to contain a third wave of the coronavirus epidemic. Photographer: Cyril Marcilhacy/Bloomberg via Getty
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