Tag: Street

Two Tax Reforms to Help the Middle Class and Main Street

In the HEROES pandemic stimulus bill they passed in May, House Democrats included a two-year waiver of the cap on federal income-tax deductions for state and local taxes that was imposed by the 2017 tax-cut law. That idea was dead on arrival with Senate Republicans, who see the SALT deduction as an unworthy subsidy that rewards “high-tax/high-spend” blue-state politicians, and it’s become a red plank in their political narrative.

Not every defense of the SALT cap is coming from the right, though. In a Brookings Institution blog post and a subsequent New York Times op-ed, Richard V. Reeves and Christopher Pulliam called removing the cap a massive handout for the rich and advocated eliminating the deduction altogether. Democrats have not been persuaded: Senate Minority Leader Chuck Schumer and other top Democrats say SALT reform will be a top priority if their party regains control of the upper house.

Reeves and

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Stocks rise on Wall Street, clawing back bit of 4-week slump

U.S. stocks are rallying Monday, as Wall Street claws back some of its sharp and sudden September losses

NEW YORK — U.S. stocks are rallying Monday, as Wall Street claws back some of its sharp and sudden September losses.

The S&P 500 was 1.5% higher in late morning trading, following up on its first four-week losing streak in more than a year. Momentum has been ultra-quick to shift recently, though, and the market has had several early gains quickly vanish. The S&P 500’s gain for Monday has already veered between 1% and 1.8%.

The Dow Jones Industrial Average was up 458 points, or 1.7%, at 27,634, as of 11:32 a.m. Eastern time, and the Nasdaq composite was 1.4% higher.

One of the

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Wall Street gains, but S&P 500 still faces 4th weekly loss

U.S. stocks are higher Friday afternoon but the S&P 500 is still heading for a fourth straight week of losses amid Wall Street’s sudden September swoon

NEW YORK — U.S. stocks are higher Friday afternoon, but the S&P 500 is still heading for a fourth straight week of losses amid Wall Street’s September swoon.

The S&P 500 was 0.4% higher after flip-flopping between small gains and losses a few times after trading opened. Stocks have been erratic recently, and indexes have taken several sharp turns in momentum each day.

The S&P 500 is still on pace for a loss of 1.8% this week, which would give the index its first four-week losing streak in more than a year. The decline for September

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Wall Street yo-yos as S&P 500 heads for 4th weekly loss

NEW YORK (AP) — U.S. stocks are wobbling Friday morning, as the S&P 500 heads for a fourth straight week of losses amid Wall Street’s sudden September swoon.

The S&P 500 was 0.1 percent higher after flip-flopping between small gains and losses a few times after trading opened. Stocks have been erratic recently, and indexes have taken several sharp turns in momentum each day. The S&P 500 is still on pace for a loss of 2.1 percent this week, which would give the index its first four-week losing streak in more than a year.

The Dow Jones Industrial Average was down 11 points, or less than 0.1 percent, at 26,803, as of 10:26 a.m. Eastern time, and the Nasdaq composite was 0.6 percent higher.

Smaller stocks were faring slightly better, and the Russell 2000 index of small-cap stocks was 0.9 percent higher.

Stocks have struggled this month amid a long

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Austin’s Downtown 2nd Street District ‘sidewalk sale’ aims to generate foot traffic, business

AUSTIN (KXAN) — Longtime Austin Downtown business owner Shelley Meyer never imagined a pandemic would turn her business world upside down.

“Trust me that none of our leases were undertaken with the expectation of doing 20% (business),” she said. “There’s just no way to financially plan for that.”

Meyer first started about 30 years ago with Wild About Music on Sixth Street, then Austin Rocks, and most recently taking over Toy Joy a couple of years ago which led to the birth of Yummi Joy, a candy specialty store. Today, Meyer oversees six store locations across Austin. Three store locations sit next to each other along Second Street near the corner of Guadalupe Street.

However, since the pandemic hit Austin in mid-March business has been slow.

“Without the office workers and without the tourists there just isn’t enough business to sustain retail in downtown Austin at the moment,” she said.

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Students wrongly accused of cheating in visa test take fight to Downing Street



a group of people holding a sign: Photograph: Victoria Jones/PA


© Provided by The Guardian
Photograph: Victoria Jones/PA

International students who lost their right to live and study in the UK after being wrongly accused of cheating in an English language test sent a letter to Downing Street on Thursday, as part of an ongoing campaign to clear their names.

The 200 students are some of about 34,000 accused by the Home Office of cheating in the English language tests they needed to pass in order to secure their visas. More than 1,000 students have been removed from the UK as a result of the accusation, and many were arrested and detained by immigration enforcement officers, but large numbers say they were wrongly accused.

“We were innocent but our visas were refused or revoked and the government gave us no way to defend ourselves. Our futures were destroyed and we were left to fight a years-long legal battle costing each

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Wall Street retreats as business activity slows

By Sagarika Jaisinghani and Devik Jain

Sept 23 (Reuters)Wall Street’s main indexes fell on Wednesday as data showed domestic business activity slowed in September, although a record high for Nike following a strong quarterly earnings report capped declines on the blue-chip Dow.

Nine of the 11 major S&P indexes were down in morning trading, with energy .SPNY – already the worst performing sector this year – leading declines. O/R

Hopes of a stable economic rebound from a pandemic-led recession, combined with historic fiscal and monetary stimulus, had driven a rally in the three main U.S. stock indexes since a coronavirus-driven crash in March.

However, doubts over the next coronavirus relief bill as well as a selloff in heavyweight technology-related stocks have weighed on sentiment this month, with Wall Street favorites including Facebook Inc FB.O, Apple Inc AAPL.O and Amazon.com Inc AMZN.O bearing the brunt of the

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Proposal could boost minority business development on Park Street in Madison

DANE COUNTY (WKOW) — Madison could have a new hub for minority owned businesses along South Park Street following a proposal by Dane County to help purchase land in the corridor.

Today, Dane County Executive Joe Parisi joined Ruben L. Anthony Jr., President and CEO of the Urban League of Greater Madison, to announce that he’s putting $2 million in his upcoming 2021 budget to help the Urban League purchase a site for an economic development hub along the South Park Street corridor dedicated to supporting minority-owned businesses.

The project will be modeled after the Sherman Phoenix project in Milwaukee, an entrepreneurial hub in the Sherman Park neighborhood providing high-quality commercial space and support for small businesses.

“We are excited to partner with the Urban League of Greater Madison in this effort to find a location where Dane County entrepreneurs can gather to gain the support, experience, and skills they

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Main Street Shops Aren’t Ready for E-Commerce Surge, Visa Says

A UPS Worldport Facility Ahead Of Earnings Figures

Photographer: Luke Sharrett/Bloomberg

Many consumers will ignore brick-and-mortar stores this holiday season in favor of online shopping, a new study finds, and small business may end up left behind.

After months of retail turmoil and economic shutdowns due to the pandemic, about a quarter of small shops say they’re now unprepared for an influx of sales this holiday season, according to a report from Visa Inc. This year promises to be especially unusual, with more than half of consumers planning to do most of their shopping online.

“There’s not a lot of time left” for small businesses to prepare, said Kevin Phalen, Visa’s global head of business solutions. Many are “not online, they’re not e-commerce enabled and they haven’t thought through their payment capabilities.”

Major retailers from U.S. electronics chain Best Buy Co. to Spanish fast-fashion giant Inditex SA have spent the past several months building up

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Supportive Customers Buoy Beloved Main Street Businesses

This past summer, the sidewalk was jumping outside The Silver Room, a jewelry, art, and accessories store in Chicago’s Hyde Park neighborhood. One night, a short film by a local filmmaker danced across a screen in the window. A jazz band, guitarist, and pianist performed. On warm evenings, 30 or 40 neighbors would wander by and pause for a socially distanced minute to watch. 

The entertainment is small potatoes next to Sound System Block Party, The Silver Room’s annual music and arts festival. In normal times–which these are not–that event packs in tens of thousands of celebrants from around the city. But founder Eric Williams views his mission as “providing human connection,” and he won’t give that up, even for a pandemic. The small performances “create moments of emotion and energy,” says Williams. “People really enjoy it.”

Inc. first wrote about The Silver Room during Small Business Week in 2018,

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