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Federal Tax Cuts Leave States in a Bind - 5/15/1

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Federal Tax Cuts Leave States in a Bind - 5/15/1

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The federal tax overhaul cut taxes for millions of American families and businesses. Governors and state legislators are contending with how to adjust their own tax codes to shield their residents from paying more or, in some cases, whether to apply any of the unexpected revenue windfall to other priorities instead. It cut federal tax rates, but also made other changes that mean more income will be subject to taxation.
https://www.nytimes.com/2018/05/12/business/economy/state-tax.html?rref=collection%2Fsectioncollection%2Fbusiness-economy&action=click&contentCollection=economy&region=stream&module=stream_unit&version=latest&contentPlacement=1&pgtype=sectionfront

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Hazy Perception on Pot - SJR Article - 5/7/18

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Hazy Perception on Pot - SJR Article - 5/7/18

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With the spreading legalization of marijuana across the United states businesses have to decide how to go about drug testing for pot, that's if they drug test for it at all. If a company doesn't drug test there may be a discount on workers compensation in the future. In January the Obama administration has discouraged federal prosecutors from pursuing marijuana cases in states where the drug is legal. SJR Newspaper

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Trump open to negotiations with California on auto gas mileage - 5/15/18 - SJR

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Trump open to negotiations with California on auto gas mileage - 5/15/18 - SJR

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Addressing a key concern for manufacturers, president trump instructed his administration to explore negotiations with California on achieving a single fuel economy standard for the nation during a meeting with auto industry executives Friday. Trump met with to auto executives to discuss the standards and tasked transportation secretary protection agency administor Scott Pruitt to handle the talks with
California officials, according to two people. - SJR

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US weekly jobless claims total 222,000, vs 215,000 expected- 5/17/18 - CNBC

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US weekly jobless claims total 222,000, vs 215,000 expected- 5/17/18 - CNBC

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Initial claims for state unemployment benefits rose 11,000 to a seasonally adjusted 222,000 for the week ended May 12, the Labor Department said on Thursday. Claims data for the prior week was unadvised. Economists polled by Reuters had forecast claims rising to 215,000 in the latest week. The labor market is viewed as being close to or at full employment, with the jobless rate near a 17-1/2-year low of 3.9 percent. The unemployment rate is within striking distance of the forecast of 3.8 percent by the end of this year. https://www.cnbc.com/2018/05/17/us-weekly-jobless-claims-may-12-2018.html

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Business inventories fall flat of expectations - 5/17/18

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Business inventories fall flat of expectations - 5/17/18

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The Commerce Department's measure of business production remained flat in March at $1,929.6 billion. It was expected to gain 0.1 percent, a survey of Reuters economists forecast. Inventories were up 3.8 percent from the prior year. The key technical indicator, based on data from three trade and manufacturing surveys, rose 0.6 percent in February. https://www.cnbc.com/2018/05/15/business-inventories-fall-flat-of-expectations.html

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Weekly mortgage applications fall 2.7% even before rates spike - 5/17/18 - CNBC

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Weekly mortgage applications fall 2.7% even before rates spike - 5/17/18 - CNBC

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Borrowers may have missed an opportunity to get the last of the low rates, as it now appears interest rates are moving decidedly higher. Mortgage application volume fell 2.7 percent last week, according to the Mortgage Bankers Association's seasonally adjusted report. Volume was 4.5 percent lower than a year ago.Buyers struggling to afford today's steep prices are increasingly turning to adjustable-rate mortgages ARMs because they offer lower rates, but unfortunately those rates are rising now as well.
https://www.cnbc.com/2018/05/16/us-mortgage-refinancing-hits-the-lowest-level-since-aug-2008-mba.html

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Bond Market Indicates Doubt About Trump’s Economic Targets - 5/15/18

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Bond Market Indicates Doubt About Trump’s Economic Targets - 5/15/18

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As a candidate, President Trump said he would increase United States economic growth to 4 percent annually. After the economy grew by 2.3 percent in 2017, investors in some of the world’s largest markets are betting that the United States will continue to fall short of the White House goal.That does not mean the United States is about to enter a recession.

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State's capital needs estimated at billions - 5/7/18 - SJR

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State's capital needs estimated at billions - 5/7/18 - SJR

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A group of labor and business representatives said last week that the state will need to spend $21 billion a year to bring the states roads and public buildings in good repair. The  main price we're paying here is the result of years of differed maintenance on buildings and years of not having sufficient money to maintain the state's transportation system. SJR

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Hot US jobs market spurs push to reach those left behind - 5/9/18 

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Hot US jobs market spurs push to reach those left behind - 5/9/18 

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There's a concern in the US economy that there will not be enough money to help areas that have been left behind by a decade long recovery. In Cleveland Ohio they're building a new road to cut down commute times from suburbs to the city. They're hoping that by creating this new road it will create more job opportunities for the less fortunate in Cleveland Ohio.

https://www.cnbc.com/2018/05/09/hot-us-jobs-market-spurs-push-to-reach-those-left-behind.html

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California has surpassed the UK as world's 5th largest economy - 5/7/18

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California has surpassed the UK as world's 5th largest economy - 5/7/18

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California's gross domestic product rose one hundred and twenty seven billion dollars from 2016 to 2017. This surpasses 2.7 trillion dollars and while this is happening the
United Kingdom's gross domestic product has slightly lowered below California's. California is at the front of the entertainment industry and also the tech industry. With 40 million people packed in a state the size of California the sky's the limit. https://www.cnbc.com/2018/05/04/california-has-surpassed-the-uk-as-worlds-5th-largest-economy.html