Economy

Economy

Business Lobby Blames Seattle’s Tax on the Rich for 30,000 Lost Jobs – City Says the Tax Funds Housing and Beat COVID

A business group says Seattle's JumpStart payroll tax cost downtown 30,000 jobs and $10 billion in office value - but the city says the tax funded housing and powered its pandemic recovery.

110d ago

Economy

Leaked OpenAI Financials Show a Staggering $38.5 Billion Loss in 2025

Leaked financials reviewed by Fortune and Yahoo Finance show OpenAI posted a roughly $38.5 billion net loss in 2025 on about $13 billion in revenue, one of the largest annual losses ever for a private tech company.

112d ago

Economy

Bernie Sanders Proposes Taxing AI Giants in Stock — Not Cash — to Fund $1,000 Checks for Every American

Sen. Bernie Sanders has introduced legislation that would tax the largest AI companies in stock, not cash, creating a public wealth fund he estimates could reach nearly $7 trillion and fund $1,000+ dividends for every American.

113d ago

Economy

Communities Blocked or Delayed 75 Data Center Projects Worth Nearly $130 Billion in Just Three Months

A new Data Center Watch study found local opposition blocked or delayed at least 75 U.S. data center projects worth nearly $130 billion in Q1 2026, as opposition groups doubled to 833 across 49 states.

117d ago

Economy

Zuckerberg Admits Meta “Made Mistakes” After Cutting 8,000 Jobs for AI

Mark Zuckerberg told Meta employees the company "made mistakes" in an AI-driven restructuring that eliminated roughly 8,000 jobs, and pledged no more company-wide layoffs in 2026.

117d ago

Economy

After the Supreme Court Struck Down Trump’s Tariffs, the U.S. Refunded $22 Billion in May

The U.S. refunded roughly $22 billion in tariffs in May, nearly canceling out the month's customs revenue, after the Supreme Court struck down Trump's IEEPA tariffs. CBP estimates total refund exposure could reach $166 billion plus interest.

120d ago

Economy

Social Security’s Retirement Fund Now Projected to Hit a Shortfall in 2032 — A Quarter Earlier Than Last Year

The 2026 Social Security Trustees Report moved the retirement fund's shortfall date up to late 2032 — but the program does not run out, and the fix is a policy choice.

121d ago

Economy

Illinois Gov. JB Pritzker to Freeze New Data-Center Tax Breaks for Two Years

Gov. JB Pritzker is directing Illinois to pause new data-center tax incentives for two years starting July 1, 2026, citing energy, water, and utility-cost concerns. Existing deals are honored.

122d ago

Economy

New Tariffs Hit 59 Countries and the EU – And the Price Tag Could Land on Your Family’s Grocery and Shopping Bills

A sweeping new round of import taxes targets 59 countries plus the EU - and the cost could land on American families' grocery and shopping bills.

127d ago

Economy

Massachusetts Just Officially Recognized the First Union for Uber and Lyft Drivers

Massachusetts has formally recognized a union representing tens of thousands of Uber and Lyft drivers — the first state-level rideshare union in the country.

134d ago

Economy

For the First Time in History, Gas Is Now Above $4 in Every Single State — and the Iran War Is Why

Gas prices have hit $4 per gallon in all 50 states for the first time in history. The national average is $4.56 — up 53% since the U.S. launched strikes on Iran in March. Here is what is driving prices and what comes next.

136d ago

Economy

U.S. Industrial Output Just Jumped by the Most in Over a Year — Even as Tariff and War Costs Surge

Federal Reserve data shows U.S. industrial production jumped 0.7% in April — the biggest single-month gain in over a year — topping every economist forecast despite rising tariff costs and the ongoing U.S.-Iran conflict.

136d ago