With the economy and financial markets flashing mixed signals, it’s no wonder that lawmakers are deadlocked on whether to pass a Phase 4 of the CARES Act.
More than $3 trillion in stimulus has been pushed into the economy since March. Critics of a CARES Act Phase 4 package say the economy needs time to digest an unprecedented amount of federal spending. On the other hand, supporters say more is needed to help 21 million unemployed Americans and the many small businesses that continue to struggle with the pandemic’s impact.1,2
Here are a few changes being considered in Washington for a CARES Act Phase 4:
This is a confusing time as proposals can often get mingled with actual updates to existing rules. For example, did you know that the Small Business Administration extended until August 8, 2020, its deadline to apply for the Paycheck Protection Program? The extension was approved just recently.8
If you have any questions, please reach out to a dedicated team member at Epic Capital we would welcome the opportunity to provide additional insight. Meanwhile, we’re keeping close tabs on whether a CARES Act Phase 4 package moves to vote in Congress. Stay tuned on our website and social media for additional updates
Recently, you may have seen reports that a record-low number of homes are available for sale—roughly 1.03 million nationwide. If you compare that to the average number of homes for sale during the past 10 years, it’s no surprise that many hopeful homebuyers are having issues securing a home. But why exactly is the housing … Continue reading “Forces Driving the Housing Market”
It can be exhausting trying to keep up with the whims of Wall Street. Lately, the financial markets have been fixated on federal taxes and what may be proposed on Capitol Hill in the weeks and months ahead. Wall Street’s focus on taxes closely follows its attention on the 10-year Treasury yield. And it wasn’t … Continue reading “The Whims of Wall Street”
President Joe Biden introduced the much-anticipated American Jobs Plan, which outlines an approach to spend roughly $2.2 trillion on the nation’s infrastructure and other projects. As part of the legislative process, the Biden administration also laid out a proposal for paying for the domestic investment. The plan includes raising the corporate tax rate to 28% … Continue reading “Paying for the Infrastructure Bill”
Financially, many of us associate the spring with taxes – but we should also associate December with important IRA deadlines. This year, like 2020, will see a few changes and distinctions. December 31, 2021, is the deadline to take your Required Minimum Distribution (RMD) from certain individual retirement accounts.
There’s an old Wall Street maxim that says, “markets climb a wall of worry.” And these days, there’s plenty to worry about with the trend in long-term interest rates and bonds.
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