October 13, 2017
- A recently released employment report shows a recent severe decline of jobs within the U.S. economy. A total of 33,000 jobs were lost in the month of September. Industry experts cite the nation’s natural disasters as a source aiding in the decline. This loss served as the first monthly decline in approximately seven years, which came as a shock to many because the economy showed many strengths. Though jobs were loss, wage growth grew 2.9%.
- The House Ways and Means Committee and Senate Finance Committee recently released a report titled, Unified Framework for Fixing Our Broken Tax Code. The goal of the report is to decrease tax rates, ensure the readability of the tax code is simpler, and expand the tax base and facilitate economic growth. The report has many hot topics such as decreasing the corporate tax rate to 20 percent. Further, the report purports to preserve only two corporate tax expenditures such as the Low-Income Housing Tax Credit.