Economy
Bipartisan group predicts U.S. debt default as soon as summer, depending on tax receipts
WASHINGTON — A bipartisan think tank expects that the United States will default on its debt in the summer or early fall, if Congress doesn’t take action to address the debt limit before then. The timeline is similar to one the nonpartisan Congressional Budget Office released last week, saying lawmakers have until sometime between July […]
Arkansas panel votes to ban state investments with managers who consider ESG factors
Arkansas lawmakers voted on Wednesday to divest state holdings from financial services providers that do not invest in energy or firearms companies. Approval from the House State Agencies and Government Affairs Committee was House Bill 1307‘s first step to becoming law. It now goes before the full House for consideration. The bill directs the state […]
USDA projects farm income will fall in 2023 after two robust years
WASHINGTON — After two strong years of growth, U.S. farm income is forecast to drop substantially in 2023 as commodity prices fall and expenses rise, the U.S. Department of Agriculture Economic Research Service reported Tuesday. And with food prices projected to rise into 2023, the nation’s producers will not be reaping the financial benefits. The […]
Sanders attacks “radical left” and “woke” culture in response to State of the Union address
LITTLE ROCK — In the GOP response to President Joe Biden’s State of the Union address Tuesday night, Arkansas Gov. Sarah Huckabee Sanders painted a picture of a nation living in fear because Biden and Democrats “have failed you.” Her roughly 15-minute speech was long on criticism of Biden and Democrats, but short on specific […]
Biden in State of the Union address draws boos and shouts from a combative GOP
WASHINGTON — President Joe Biden began his State of the Union address Tuesday — his first to a divided Congress — with an appeal to bipartisan priorities, but later criticized parts of the GOP agenda and got a sense of Republicans’ appetite for conflict during one combative stretch. Biden opened the 72-minute speech with an […]
Proposed federal rule would lower credit card late fees
As Americans continue to struggle with high credit card rates, the Consumer Financial Protection Bureau has proposed a rule to help lessen some of their financial burden — in the form of lower late fees. The new rule would limit late fees to $8. Currently credit card companies can charge as high as $41 — […]
U.S. House speaker calls for ‘responsible’ debt limit legislation, shares few details
WASHINGTON — U.S. House Speaker Kevin McCarthy on Monday said the greatest threat to the nation’s future is the rising national debt, though he gave few specifics for how he planned to lower deficit spending or avoid a first-ever default on the debt this year. The California Republican, in a 10-minute address from the U.S. […]
Biden, McCarthy hold ‘productive’ and ‘frank’ debt limit talks as fiscal cliffs loom
WASHINGTON — President Joe Biden and U.S. House Speaker Kevin McCarthy huddled behind closed doors at the White House on Wednesday in the first of what will likely be several conversations as the country approaches two fiscal cliffs this year amid divided government. The top issue at the moment is when and how to address […]
States criticized for spending federal relief funds on tax cuts, prisons
As states plan how they’ll spend the $25 billion remaining in federal COVID relief funds, some also are facing criticism and renewed scrutiny over how they allocated money already received from the American Rescue Plan Act. Of the $198 billion authorized by Congress in 2021, $173 billion already has been appropriated by states, the District […]
Migration to NW Arkansas fuels state’s population growth in 2022
BENTONVILLE, Ark. – Jasmine Hudson never thought she would be a long-term Arkansas resident after moving to the Bentonville area to take a job with Walmart Inc. The Tennessee State University graduate joined the Arkansas retail giant nearly a decade ago. She left the company during the COVID-19 pandemic to start her own business with […]
USDA to use outdoor recreation to boost economy around national forests, grasslands
WASHINGTON — The U.S. Department of Agriculture began planning this month to develop outdoor recreation opportunities near national forests and grasslands, part of a broader Biden administration push to help communities reap economic rewards from the growing recreation sector. Three USDA agencies — the U.S. Forest Service, the National Institute of Food and Agriculture and […]
Biden, Democrats to U.S. House Republicans: Show us your debt limit plan
WASHINGTON — Democratic leaders huddled with President Joe Biden at the White House on Tuesday, ahead of what will be a tumultuous few months, with lawmakers sharply divided on the debt limit and short on time. “I have no intention of letting the Republicans wreck our economy, nor does anybody around this table,” Biden said […]