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Money & Markets

Yellen outlines to Congress emergency measures on debt limit

WASHINGTON — Treasury Secretary Janet Yellen told Congress on Friday that she will start taking emergency measures next week to keep the government from an unprecedented default on the national debt, warning that a default would cause “irreparable harm to the U.S. economy and the ...

Biden administration stepping up community grants from COVID bill

WASHINGTON — President Joe Biden’s administration is beginning to make $3 billion in economic development grants available to communities — a tenfold increase in the program paid for by this year’s COVID-19 relief bill. Commerce Secretary Gina Raimondo said her agency on Thursday will ...

Infrastructure bill fails first vote; Senate to try again

WASHINGTON — Senate Republicans rejected an effort Wednesday to begin debate on the big infrastructure deal that a bipartisan group of senators brokered with President Joe Biden, but pressure was mounting as supporters insisted they just needed more time before another vote possibly next ...

Senate Democrats announce $3.5 trillion budget agreement

WASHINGTON — Senate Democrats announced Tuesday that they have reached a budget agreement among themselves that envisions spending an enormous $3.5 trillion over the coming decade. The fiscal plan would pave the way for Democrats’ drive to direct a huge pool of federal resources at climate ...

After Branson flight, Virgin Galactic slumps on stock sale

Virgin Galactic shares veered sharply lower Monday after the spaceflight company said it’s made arrangements to sell up to $500 million in stock. The disclosure comes a day after founder Richard Branson briefly rocketed into space aboard Virgin’s winged space plane for the first time in ...

How the new, expanded federal child tax credit will work

WASHINGTON — The most ambitious part of the pandemic stimulus package signed by President Joe Biden earlier this year is about to hit the bank accounts of millions of U.S. parents. Starting next week and ending in December, the vast majority of U.S. households with children will begin ...