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In a historic move during unprecedented times, due to the coronavirus outbreak, the federal government is taking action to reduce the impact on taxpayers. The Emergency Assistance Act instructed the Secretary of the Treasury “to provide relief from tax deadlines to Americans who have been adversely affected by the COVID-19 emergency, as appropriate, according to […]

Events are quickly unfolding surrounding the COVID-19 outbreak, with a growing impact across the globe. As coronavirus pressures mount, firms have curtailed travel, schools have closed, and people are practicing social distancing. As a result, consumer spending has decreased as people stay home, thus causing a ripple effect throughout the economy and commercial real estate. […]

For the week ending March 28th, 2020, the number of Americans filing for unemployment has skyrocketed to a record-breaking 6.6 million, according to a report by the Labor Department. This has sent a recently booming labor market into free fall. The previous record was 3.3 million claims filed the week of March 21st, 2020, as […]

President Donald Trump announced that he is extending his administration guidelines on social distancing to April 30th, 2020. Americans must continue to avoid nonessential travel, going to work, eating at bars and restaurants, or gather in groups of more than ten people for at least another month to curb the spread of COVID-19.

On March 25th, 2020, The White House and Senate leaders reached an agreement on a $2.2 trillion stimulus package that would offset the economic damage done by COVID-19. This package marks the most expensive and far-reaching measures made in the history of Congress. On March 27th, 2020, President Donald Trump signed the Coronavirus Aid, Relief, […]

On March 18th, 2020, Trump signed into law a coronavirus relief package, and the Senate approved the new emergency funding. This economic relief bill will provide paid emergency and family leave for U.S. workers impacted by the illness, free testing for COVID-19, expansion of unemployment assistance, and nutrition assistance. Efforts are underway to enact a […]

In an emergency move on Sunday, March 15th, 2020, the Federal Reserve announced that it dropped its benchmark interest rate to zero, the new fed funds rate is now targeted at 0 – 0.25% down from the previous target range of 1.00 – 1.25%. The Fed’s decision was a result of the coronavirus outbreak harming […]

On March 13th, 2020, President Donald Trump declared a national emergency concerning the novel coronavirus outbreak. The announcement included measures needed to contain and combat the virus in the U.S, including freeing up funds and other resources and lowering legal barriers for responding to the pandemic. This permits tapping into an account that currently has […]

The Federal Reserve cut rates 50 basis points to 1.00 – 1.25% on Tuesday, March 3rd, 2020, in an attempt to give the U.S. economy a jolt. This cut comes after concerns about the coronavirus outbreak and is the first unscheduled and biggest one-time emergency rate cut since 2008. The fundamentals of the U.S. economy […]