A second Donald Trump presidency is likely to drive up inflation, research organization EPI Action said, arguing that tax cuts and tighter immigration policies would likely undermine progress towards lower prices.
The think tank said in a report on Wednesday that a second Trump administration was likely to push for the same policies as the first- namely large tax cuts for higher earners, reduced immigration, and higher trade tariffs.
But with a changed economic environment from the first administration- in that upside risks to inflation are a lot more prevalent under current conditions- these policies would be likely to drive up inflation. Trump is also expected to roll back the Biden administration’s Inflation Reduction Act.
Investing.com
July 29, 2024
Meanwhile, at least another 10 states are considering passing similar legislation, potentially covering more than 60 million workers around the country, according to the Economic Policy Institute, a left-leaning think tank.
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In lieu of a national ban, unions and other pro-labor groups have been pushing state lawmakers to step in and outlaw the mandatory meetings. The Economic Policy Institute notes that “at-will employment” prevails in the vast majority of states, giving employers broad discretion to fire workers, although it is illegal to retaliate against someone for trying to form a union.
“State lawmakers have the power to fight back against employer coercion and address gaps in weak, outdated federal laws,” the think tank urged in April.
Huffpost
July 29, 2024
Tennessee has spent just 10.5% of the $3.7 billion it received in fiscal recovery funds in 2021. While other states have rebuilt infrastructure and supported working families, Tennessee has done almost nothing.
While the state rolled out an ambitious plan for using the money, very few of those paper plans have been approved by the legislature, and even less money has gone out the door. $500 million was allocated for broadband, but only $44.6 million has been spent. $1.3 billion was budgeted for wastewater infrastructure – just $36 million has been spent. $15 million was earmarked for Habitat for Humanity to support low-income housing, but none of those funds have yet been appropriated by the legislature.
It’s an open question whether they ever will. Tennessee only has until Dec. 31 to formally obligate the funds, or it loses them forever. Now is the time for the governor and the state legislature to use the money they have to make things better for working families. If they don’t, they will have wasted a once-in-a-generation chance to do good.
Tennessean
July 29, 2024
But the think tanks achieved deficit reduction in dramatically different ways. Not surprisingly, the groups generally considered farther to the right — the American Action Forum (AAF), American Enterprise Institute (AEI), and the Manhattan Institute (MI) — focused primarily on spending reductions. The groups generally considered farther to the left — the Center for American Progress (CAP) and Economic Policy Institute (EPI) — relied more heavily on tax increases, as did the more centrist Progressive Policy Institute (PPI) and Bipartisan Policy Center (BPC), though to very different degrees.
Forbes
July 29, 2024
Although women are more likely to graduate from college than men and more likely to receive a graduate degree than their male counterparts, they are paid less than men at every education level, the Economic Policy Institute, a Washington, D.C.-based think tank, says.
MarketWatch
July 29, 2024
A March report from the Economic Policy Institute found that not all states have amended their education codes to protect public and private high school students, and that some states have allowed certain exceptions to the CROWN Act.
Associated Press
July 29, 2024
Just how many workers in the United States are considered low-wage employees? According to the Economic Policy Institute, 31 million people in the U.S. earn under $17 per hour. That’s about 21% of the workforce.
GO Banking Rates
July 29, 2024
In 20 states, mostly in the South and Midwest, the federal minimum wage is in effect, according to the Economic Policy Institute. The other 30 states and Washington, D.C. have minimum wages higher than the federal standard, according to EPI data.
Additionally, at least 63 cities and towns — including New York City and Los Angeles — have local minimum wages higher than their state’s requirement, with new wage hikes still occurring, according to the EPI. Chicago’s minimum wage rose to $16.20 per hour this month.
NPR
July 29, 2024
That wage growth is due in part to a tight labor market and state-level minimum wage increases from 2019 to 2023, according to the nonprofit think tank Economic Policy Institute.
Business Insider
July 29, 2024