Tag:

Economics

Trump Wants US Treasury To Stop Making Pennies: Here's Why Trump Wants US Treasury To Stop Making Pennies: Here's Why
Trump Wants US Treasury To Stop Making Pennies: Here's Why President Donald Trump is calling for an end to the production of pennies, arguing that the cost of minting them far exceeds their actual value.  As he departed the Super Bowl in New Orleans on Sunday night, Trump took to Truth Social to announce his directive to halt penny production, calling it a "wasteful" government expense. "For far too long the United States has minted pennies which literally cost us more than 2 cents," Trump wrote. "Let's rip the waste out of our great nations budget, even if it's a penny at a time." The financial burden of the penny has long been debated. Acco…
Trump Taps Former University Of Maryland Professor For Economic Policy Advisor Trump Taps Former University Of Maryland Professor For Economic Policy Advisor
Trump Taps Former University Of Maryland Professor For Economic Policy Advisor Incoming President Donald Trump announced key senior staff appointments to the White House National Economic Council, including a face familiar to some in Maryland. Andrew Lyon, a former University of Maryland economics professor with decades of experience in government and private sector roles, has been tapped by Trump to serve as Special Assistant to the President for Economic Policy. Lyon, who previously served under two Republican administrations, will focus primarily on tax policy in his new role, the Trump team announced this week. The seasoned economist has an impressive resume…
Here's How Much, When Minimum Wage Will Increase In Virginia Here's How Much, When Minimum Wage Will Increase In Virginia
Here's How Much, When Minimum Wage Will Increase In Virginia Virginia workers, can start getting ready for a small, but not insignificant pay bump in the new year. The state’s hourly minimum wage will increase to $12.41 starting Monday, Jan. 1, 2025, giving workers an extra 41 cents per hour.  "The new rate was calculated under the Virginia Minimum Wage Act, which mandates an annual adjustment based on the Consumer Price Index for All Urban Consumers (CPI-U). "This measure, published by the US Bureau of Labor Statistics, tracks changes in the cost of goods and services, and for 2023, the CPI-U rose by 3.4 percent," Virginia Department of L…