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- $78 Billion Tax Cut Blocked, Jobless Claims Surge and a Historic Prisoner Swap
$78 Billion Tax Cut Blocked, Jobless Claims Surge and a Historic Prisoner Swap
Anna Eisenberg
August 01, 2024
Anna's Daybreak News
Friday, 5:17 AM
August 2, 2024
Good morning news friend! Keep current with the latest updates, following the shifting landscape of today's events. 📰🌟
Senate Blocks $78 Billion Tax Cut Deal
Senate Republicans stopped a $78 billion tax cut package aimed at businesses and low-income families. Democrats wanted to expand the child tax credit to benefit 16 million children and aid small businesses.
Republicans argued they could secure a better deal next year, claiming the proposal resembled "cash welfare." The bill offered full deductions for business investments and aimed to lift 500,000 people out of poverty.
Majority Leader Chuck Schumer brought the bill up for a vote, but it failed 48-44, needing support from 60 senators.
Some Republicans believed they could extend tax cuts if they gain a majority next year.
Source: Read More
Senate Republicans stopped a $78 billion tax cut package aimed at businesses and low-income families. Democrats wanted to expand the child tax credit to benefit 16 million children and aid small businesses.
Republicans argued they could secure a better deal next year, claiming the proposal resembled "cash welfare." The bill offered full deductions for business investments and aimed to lift 500,000 people out of poverty.
Majority Leader Chuck Schumer brought the bill up for a vote, but it failed 48-44, needing support from 60 senators.
Some Republicans believed they could extend tax cuts if they gain a majority next year.
Source: Read More
Jobless Claims Surge
Weekly jobless claims jumped to an 11-month high, reaching 249,000. Continuing claims also increased to 1.877 million, the highest since late 2021.
Meanwhile, worker productivity rose by 2.3% in Q2, and unit labor costs increased by 0.9%.
Despite layoffs in the vehicle industry, the labor market remains strong, though weaker than in 2022 and 2023.
Source: Read More
Weekly jobless claims jumped to an 11-month high, reaching 249,000. Continuing claims also increased to 1.877 million, the highest since late 2021.
Meanwhile, worker productivity rose by 2.3% in Q2, and unit labor costs increased by 0.9%.
Despite layoffs in the vehicle industry, the labor market remains strong, though weaker than in 2022 and 2023.
Source: Read More
Do you think the US will be able to avoid a recession? |
Historic Prisoner Swap: Freedom for Gershkovich and Whelan
On August 1, 2024, Russia and the United States completed their largest post-Soviet prisoner swap. The exchange, involving 24 people, included Wall Street Journal reporter Evan Gershkovich and ex-Marine Paul Whelan.
Gershkovich was released after 491 days in prison. The swap took place in Ankara, Turkey.
Besides Gershkovich and Whelan, Radio Free Europe journalist Alsu Kurmasheva and activist Vladimir Kara-Murza were freed.
In return, Russia received prisoners including Vadim Krasikov, convicted of murder in Germany, and hackers Vladislav Klyushin and Roman Seleznev.
Source: Read More
On August 1, 2024, Russia and the United States completed their largest post-Soviet prisoner swap. The exchange, involving 24 people, included Wall Street Journal reporter Evan Gershkovich and ex-Marine Paul Whelan.
Gershkovich was released after 491 days in prison. The swap took place in Ankara, Turkey.
Besides Gershkovich and Whelan, Radio Free Europe journalist Alsu Kurmasheva and activist Vladimir Kara-Murza were freed.
In return, Russia received prisoners including Vadim Krasikov, convicted of murder in Germany, and hackers Vladislav Klyushin and Roman Seleznev.
Source: Read More
Apple’s Q2 Earnings
Sales of Macs and iPads surged by 12% in the last quarter. This growth helped Apple achieve a 5% revenue increase, hitting $85.8 billion.
Profits also jumped 8% to $21.5 billion, exceeding Wall Street’s expectations.
However, iPhone sales dropped 1%, the lowest since 2021. This dip is linked to competition from Huawei in China. Huawei's sales in China jumped 45%, while Apple's fell by 5%.
Apple expects the upcoming iPhone 16, equipped with "Apple Intelligence," to drive future iPhone sales.
Source: Read More
Sales of Macs and iPads surged by 12% in the last quarter. This growth helped Apple achieve a 5% revenue increase, hitting $85.8 billion.
Profits also jumped 8% to $21.5 billion, exceeding Wall Street’s expectations.
However, iPhone sales dropped 1%, the lowest since 2021. This dip is linked to competition from Huawei in China. Huawei's sales in China jumped 45%, while Apple's fell by 5%.
Apple expects the upcoming iPhone 16, equipped with "Apple Intelligence," to drive future iPhone sales.
Source: Read More
Baked with love,
Anna Eisenberg ❤️
What did you think of today's edition? |