Economic Issues Archives - Close Up Foundation

Economic Issues Legislative Branch Partisanship & Polarization

The Debt Ceiling Fight

May 19, 2023

Recently, the Republican-led House of Representatives has been at odds with the Democrat-led Senate and President Joe Biden over raising the national debt ceiling. This issue touches on one of the fundamental powers of Congress—setting the budget for the federal government. Disagreements over spending have led to the current divide between the Republican and Democratic […]

How Should We Regulate Child Labor?

March 15, 2023

On March 6, Arkansas Governor Sarah Huckabee Sanders signed into law the Youth Hiring Act, a law that, among other things, allows children between the ages of nine and 16 to be hired without the need for an employment certificate to be filed with the state. Under previous state law, an employment certificate was required […]

CEO Compensation: An Issue of Fairness or Evidence of a Functioning Free Market?

February 10, 2023

There is currently a bill in Congress, S.794 – Tax Excessive CEO Pay Act of 2021, that would increase taxes on companies on the basis of their CEO-to-worker compensation ratio. The legislation, introduced by Senator Bernie Sanders (I-Vt.) and cosponsored by a host of Democrats including Senator Elizabeth Warren (D-Mass.), has progressed to the Senate […]

A New Rule Results in Cost-Of-Living Reimbursement for House Members

January 18, 2023

An under-the-radar rule change proposed by Democrats in the House of Representatives in the waning days of 117th Congress could potentially increase members’ yearly compensation. The provision, approved by the House Administration Committee, would allow reimbursement for a number of living expenses, including lodging, food, and travel in Washington, D.C. How Much Do Members of […]

Biden’s Student Loan Forgiveness: Too Much, Not Enough, Just Right, or Beyond the President’s Authority?

October 25, 2022

In August, President Joe Biden’s administration announced a student loan forgiveness plan which would cancel up to $10,000 in debt for most borrowers and up to $20,000 for some borrowers.1 Current federal student loan borrowers who earn less than $125,000 per year (less than $250,000 per household) can have up to $10,000 forgiven and those […]

A Renewed Labor Movement?

September 14, 2022

The year 2022 has seen a historic surge in labor organizing and union activity. While union organizing at Starbucks and Amazon has garnered the most media attention, the US labor rights movement has also been active on university campuses, at newspapers and other publishers, and in the high-tech industry at Google, Microsoft, Apple, and other […]

Ukraine and the 2022 State of the Union Address

March 10, 2022

On March 1, 2022, President Joe Biden delivered his first State of the Union address. He hit on several major topics that have impacted the nation over the last year. This post will focus on the president’s discussion of the most recent and pressing global issue: the Russian invasion of Ukraine. READ MORE: The Russian […]

Should Members of Congress Be Banned from Trading Stocks?

February 15, 2022

Last month, Senators Jon Ossoff, D-Ga., and Mark Kelly, D-Ariz., introduced the Ban Congressional Stock Trading Act, a reform bill which would require members of Congress to divest their stock market investments or face fines totaling the entire amount of their congressional salary.1 So, should members of Congress be allowed to trade stocks? According to […]

Economic Issues

The Great Resignation

January 13, 2022

Across the United States, towns and cities are flooded with “Help Wanted” signs on business doors. The U.S. job market has seen its share of ups and downs over the last two years, but 2021 was a year of record-breaking highs in many categories. The two most important: record-breaking quits and record-breaking new job openings. […]

Build Back Better Stalls, Maybe for Good

January 04, 2022

Already facing the enormous challenge of addressing spiking cases of COVID-19 due to the Omicron variant, President Joe Biden’s administration was presented with a new challenge when Senator Joe Manchin, D-W.Va., announced that he would not support the $2 trillion spending plan known as Build Back Better. Citing concerns over the level of spending on […]