As the nation marks a turbulent Black History Month, the economic state of Black America has much improved over the last few decades but is still nowhere near parity.
A court hearing today will determine whether the group — along with union affiliates and the Economic Policy Institute — can truly halt Elon Musk’s advances.
The issue has also been taken up at the state level, with bills introduced in about 20 states, according to the think tank the Economic Policy Institute, a vocal opponent.
EPI contends few workers would benefit from removing taxes on tips because lower-income workers would not likely meet income thresholds needed to qualify. And it would create new avenues for tax avoidance that could deplete state and federal budgets.
As the Trump administration and congressional Republicans pursue trillions of dollars in new tax giveaways for wealthy individuals and corporations, economists and pollsters this week are warning about how devastating the GOP’s plan would be for small businesses and working families.
There Will Be Pain is the matter-of-fact title of a Thursday report from Josh Bivens, chief economist at the Economic Policy Institute (EPI). It details how extending the expiring provisions from the tax law that Republican lawmakers passed and Trump signed in 2017 “will have painful trade-offs for the U.S. economy and most Americans.”
According to the Economic Policy Institute, the vast majority of domestic workers in the U.S. are older women, 50% of whom are Black, Hispanic or Asian American, and are three times as likely to live in poverty as other workers.
Even in 2023, women still earned almost 22% less than men earned, according to the Economic Policy Institute; and the COVID-19 pandemic hit women’s careers harder than men’s, as millions of women had to prioritize child care and helping their children home school over their jobs.