Sentiment among US small businesses climbed to a five-month high in July as owners grew more upbeat about the economic outlook https://t.co/cyOehElOws ...

Fiscal Policy & Economic Impact - The legislation is viewed as a significant legislative achievement, but concerns exist regarding its potential to substantially increase budget deficits in the future [1] - The legislation is considered the largest cutback in the social safety net identified, occurring alongside potential reductions in spending on scientific research, arts, humanities, and foreign assistance programs [3] - Concerns are raised that the legislation compromises the nation's capacity to defend itself due to increased debt and negatively impacts its standing as a humane force in the world [4] - Bond market trends, particularly forward rates on regular bonds (well above 5%) and TIPS (well above 3%), are seen as potentially ominous indicators of the nation's medium-term credibility and ability to issue long-term debt [12] Tariffs & Inflation - Despite concerns about tariffs, CPI numbers have not yet indicated the inflation predicted by most economists [6] - The impact of tariffs on inflation may be delayed, with potential deflationary forces from artificial intelligence and technology possibly influencing the situation [7][8] - Studies during the president's first term indicated that tariffs translated into higher prices in affected sectors [9] Consumer & Small Business - Consumer spending grew by over 4% in the second quarter of 2024, supported by employment and wage growth [14] - Moderate-income households are showing some shifts in spending patterns, but overall discretionary spending remains consistent [15] - Small and medium-sized businesses face challenges due to the rising interest rate environment affecting their short-term borrowing costs [16] - Uncertainty surrounding trade and tariffs poses challenges for companies engaged in international trade, while the certainty provided by the tax rate is seen as a positive factor [17] Labor Market - Construction, farming, and travel/entertainment companies are expressing concerns about labor availability at any price [18] - Ensuring an adequate workforce is crucial for the continued growth of the service economy [19]

Starting with the wave of immigration raids across the country, New York included, the president's borders, Tom H. Home. Homeman said this weekend that ICE and Border Patrol agents don't need probable cause to detain sus uh suspected undocumented migrants because they quote get our typical facts based on the location, the occupation, their physical appearance.Holman's statements follows him promising to ramp up ICE actions in New York, especially if Democratic socialist Zoran Mandami Mandami uh wins the may ...

The Senate might have scored a win with the House Salt Caucus following the release of their tax bill. The Senate says that they would keep the House's $40,000 cap, but they would reduce the window for how long that cap lasts to 5 years. After that, it drops back to 10,000.Joining us right now to break this down is New York Republican Congressman Mike Lawler. He's a member of the Salt Caucus. And Congressman, you've been very outspoken about how you would not support this if they didn't come back with somet ...