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Daily Update

Current economic and public policy news from the Penn Wharton Public Policy Initiative. Subscribe to receive the daily update by email.

  • Federal Reserve Chair Janet Yellen sketched a bright outlook for the U.S. economy and for inflation prospects in the comin... October 16
    Senate Democrats introduce bill to repeal opioid distribution law; Congress nearing deal to loosen bank regulations; Federal Reserve Chair Janet Yellen signals likely interest rate hike.
  • resident Trump will remove subsidies to health insurance companies that currently help pay out-of-pocket costs of low-inco... October 13
    President Trump to decertify Iran nuclear deal; Trump to scrap critical health care subsidies for Obamacare; House Approves $36.5 billion hurricane and wildfire aid package; Inflation surges after hurricane increases gas prices, U.S. consumer price index increased 0.5% in September; U.S. retail sales rose 1.6% in September, driven by autos and gasoline purchases. 
  • Jobless claims fell significantly below analyst expectations this week. October 12
    Trump to sign healthcare executive order; Jobless claims fall below estimates, producer prices rise; December rate hike very likely according to Fed minutes.
  • October 11
    House appropriates $36.5 billion to disaster funding without spending offsets; Trump plans to make executive order on healthcare insurance market; Mortgage applications decrease 2.1% as interest rates reach highest level since July. 
  •  In a tweet Tuesday morning, the President indicated he’d use the “power of the pen” to “give great Healt... October 10
    Trump indicates he may use executive order on health care; Working class Americans face growing debt burden; IMF raises worldwide economic outlook.
  • Scott Pruitt, Administrator of the U.S. Environmental Protection Agency (EPA) said on Monday that he would sign a proposed... October 9
    EPA head to sign rule on withdrawal from the Clean Power Plan; Houses passes budget, paving way for tax reform; U.S. deficit spending reached $668 billion in fiscal 2017.
  • Estate tax rules proposed by President Obama will be withdrawn by the Treasury. October 4
    Treasury to withdraw estate-tax rules proposed by the Obama administration; Service sector index registers highest reading in over 12 years; U.S. private sector adds 135,000 jobs in September, according to ADP. 
  • Car sales have peaked after the destruction of Hurricane Harvey. October 3
    Supreme Court hears arguments on gerrymandering case; GOP tax plan hits political opposition; Auto sales boom post Harvey.
  • Congress is set to discuss tax reform this week.  October 2
    Congress to vote on budget and tax reform this week; Tom Price resigns as Health and Human Services Secretary; U.S. manufacturing activity reaches a 13-year high, as construction spending increases.
  • The President temporarily lifted the restrictions of the Jones Act in order to expedite food and aid to Puerto Rico. The l... September 28
    US Bombardier tax overshadows NAFTA trade talks; Trump lifts the Jones Act to speed aid to Puerto Rico; US proposed tax plan boosts dollar; Jobless claims spike on Irma.
  • Pending home sales dropped in August. September 27
    Senate passes bipartisan Medicare reform legislation; Senate Republicans say that they will not vote on ObamaCare repeal bill; Trump tax plan would cut corporate rates and nearly double standard deduction; August pending home sales drop 2.6%; U.S. durable goods orders increase 1.7% in August, more than expected by economists. 
  • GOP efforts to repeal the Affordable Care Act seem to have come to an end.  September 26
    After CBO score, GOP repeal effort appears dead; GOP tax plan likely to include new pass-through business rates; Home prices in 20 cities increase more than forecast; Oil gains, then falls on geopolitical concerns. 
  • U.S. solar panel manufacturers have been helped by the new U.S. trade agency rules. September 25
    U.S. trade agency rules in favor of U.S. solar panel manufacturers, allowing President Trump to set up sanctions on foreign solar panels; Key Republican Senators oppose ObamaCare repeal measure; Economists expect slower U.S. economy growth than Trump’s 3 percent GDP growth target.
  • The GOP's latest attempt to repeal ObamaCare would massively burden states. September 22
    Medicaid directors say that latest ObamaCare repeal bill would place massive burden on states; U.S. announces $700 million in aid for Syrians in war zone; U.S. household wealth rises $1.7 trillion, setting another record.
  • A North Korean missile unit takes part in a military parade to celebrate the 75th anniversary of the founding of the Korea... September 21
    President Trump promises more North Korea sanctions; Senate Health Committee schedules hearing on opioid crisis; Eurozone consumer confidence at highest since 2001; US jobless claims fall, hurricanes’ impact still unclear.
  • The Republican party attempts another ACA repeal bill in the Senate.  September 20
    GOP Senators Graham and Cassidy continue pushing Obamacare repeal effort; Senate Republicans Agree to Move Forward on $1.5 trillion tax cut over next 10 years; U.S. existing home sales decrease 1.7 percent.
  • U.S. Treasury building.  September 19
    Senators reach a tentative deal on Republican tax policy, overriding deficit hawk’s worries; The White House throws its weight behind last ditch Obamacare repeal; US homebuilding weak on input scarcity, Harvey; US Treasury yields rise ahead of Fed meeting.
  • Senators near a deal on U.S. Defense policy. September 18
    Senators near bipartisan deal to stabilize ObamaCare insurance markets; Senators near passage of annual defense policy bill; Homebuilder confidence hit hard in September, likely due to hurricanes.
  • GOP Senator claims he has enough votes to repeal Obamacare.                                    September 15
    Senator says he nearly has enough votes for ObamaCare repeal; Retail sales fall unexpectedly in August; Industrial production hit by Harvey, drops by most in 8 years; Consumer sentiment falls slightly in September, amid concerns about Hurricane Harvey.
  • DACA has been reexamined by the current administration. September 14
    Schumer, Pelosi and President Trump strike deal on DACA, border patrol; Sanders, Progressives unveil single payer healthcare plan; US inflation rises, finally hitting monthly targets; Consumer comfort falls for a second week in a row.
  • Healthcare policy September 13
    Senators announce bipartisan extension of children’s health insurance program; U.S. Producer Price Index up 0.2% in August, vs. expected 0.3% increase; U.S. Household Incomes Rose in 2016 to Record High.
  • The US Federal Reserve September 11
    Senate to take up annual defense policy bill this week; Trump pushes Congress towards tax reform; Treasury Yields advance as investors look to debt auction. 
  • Congress passed the debt ceiling this afternoon. September 8
    The House on Friday gave final approval to a fiscal deal that raises the debt ceiling and keeps the government funded until December, while providing $15 billion in hurricane relief.
  • Hurricane Harvey devastated the Texas area. September 6
    he House on Wednesday overwhelmingly approved nearly $8 billion in disaster aid in response to Hurricane Harvey. Top Democrats said on Wednesday that they will support linking immediate help for Hurricane Harvey recovery with a short-term debt limit increase of three months. U.S. Trade Gap Widened Less than Expected in July.
  •   September 5
    In a tweet, President Trump announced Tuesday that he will let the DACA program expire in six months. US factory orders fell by the largest margin in nearly three years.
  • ACA September 1
    The Department of Health and Human Services announced cuts to Obamacare outreach programs. US manufacturing beating analyst estimates by a wide margin, signaling higher consumer and business demand.
  • taxes August 31
    President Trump focused on his vision for tax reform in a speech on Wednesday. Rather than issuing concrete plans, the president discussed “bringing back Main Street,” as well as middle class tax cuts. The Bloomberg Consumer Comfort Index rose to a sixteen year high.
  •   August 30
    Congress may dole out Harvey relief in stages, rather than a catch-all relief bill as was the case with Superstorm Sandy. GDP growth signals upward trajectory at its revised 3% rate.
  • climate change August 29
    The massive destruction caused by Hurricane Harvey in Houston and other parts of Southern Texas will require Congress to converge on multiple needs. Consumer confidence, meanwhile, is high.
  • Scales of Justice and Judge`s gavel August 28
    President Trump rolls back an Obama era regulation, allowing the Department of Defense to once again transfer excess military equipment to local police. Texas is hit with a Category 4 hurricane, Harvey, causing widespread flooding and damage to a key energy sector of the Unites States.

PENN WHARTON PPI
RESOURCE SPOTLIGHT:

  • <h3>HUD State of the Cities Data Systems</h3><p><strong><img width="200" height="200" alt="" src="/live/image/gid/4/width/200/height/200/482_hud_logo.rev.1407788472.jpg" class="lw_image lw_image482 lw_align_left" srcset="/live/image/scale/2x/gid/4/width/200/height/200/482_hud_logo.rev.1407788472.jpg 2x, /live/image/scale/3x/gid/4/width/200/height/200/482_hud_logo.rev.1407788472.jpg 3x" data-max-w="612" data-max-h="613"/>The SOCDS provides data for individual Metropolitan Areas, Central Cities, and Suburbs.</strong> It is a portal for non-national data made available through a number of outside institutions (e.g. Census, BLS, FBI and others).</p><p> Quick link: <a href="http://www.huduser.org/portal/datasets/socds.html" target="_blank">http://www.huduser.org/portal/datasets/socds.html</a></p><p>See all <a href="/data-resources/">data and resources</a> »</p>
  • <h3>MapStats</h3><p> A feature of FedStats, MapStats allows users to search for <strong>state, county, city, congressional district, or Federal judicial district data</strong> (demographic, economic, and geographic).</p><p> Quick link: <a href="http://www.fedstats.gov/mapstats/" target="_blank">http://www.fedstats.gov/mapstats/</a></p><p>See all <a href="/data-resources/">data and resources</a> »</p>
  • <h3>The World Bank Data (U.S.)</h3><p><img width="130" height="118" alt="" src="/live/image/gid/4/width/130/height/118/484_world-bank-logo.rev.1407788945.jpg" class="lw_image lw_image484 lw_align_left" srcset="/live/image/scale/2x/gid/4/width/130/height/118/484_world-bank-logo.rev.1407788945.jpg 2x, /live/image/scale/3x/gid/4/width/130/height/118/484_world-bank-logo.rev.1407788945.jpg 3x" data-max-w="1406" data-max-h="1275"/>The <strong>World Bank</strong> provides World Development Indicators, Surveys, and data on Finances and Climate Change.</p><p> Quick link: <a href="http://data.worldbank.org/country/united-states" target="_blank">http://data.worldbank.org/country/united-states</a></p><p>See all <a href="/data-resources/">data and resources</a> »</p>
  • <h3>USDA Nutrition Assistance Data</h3><p><img width="180" height="124" alt="" src="/live/image/gid/4/width/180/height/124/485_usda_logo.rev.1407789238.jpg" class="lw_image lw_image485 lw_align_right" srcset="/live/image/scale/2x/gid/4/width/180/height/124/485_usda_logo.rev.1407789238.jpg 2x, /live/image/scale/3x/gid/4/width/180/height/124/485_usda_logo.rev.1407789238.jpg 3x" data-max-w="1233" data-max-h="850"/>Data and research regarding the following <strong>USDA Nutrition Assistance</strong> programs are available through this site:</p><ul><li>Supplemental Nutrition Assistance Program (SNAP) </li><li>Food Distribution Programs </li><li>School Meals </li><li>Women, Infants and Children </li></ul><p> Quick link: <a href="http://www.fns.usda.gov/data-and-statistics" target="_blank">http://www.fns.usda.gov/data-and-statistics</a></p><p>See all <a href="/data-resources/">data and resources</a> »</p>
  • <h3>The Penn World Table</h3><p> The Penn World Table provides purchasing power parity and national income accounts converted to international prices for 189 countries/territories for some or all of the years 1950-2010.</p><p><a href="https://pwt.sas.upenn.edu/php_site/pwt71/pwt71_form.php" target="_blank">Quick link.</a> </p><p>See all <a href="/data-resources/">data and resources</a> »</p>
  • <h3>NOAA National Climatic Data Center</h3><p><img width="200" height="198" alt="" src="/live/image/gid/4/width/200/height/198/483_noaa_logo.rev.1407788692.jpg" class="lw_image lw_image483 lw_align_left" srcset="/live/image/scale/2x/gid/4/width/200/height/198/483_noaa_logo.rev.1407788692.jpg 2x, /live/image/scale/3x/gid/4/width/200/height/198/483_noaa_logo.rev.1407788692.jpg 3x" data-max-w="954" data-max-h="945"/>NOAA’s National Climatic Data Center (NCDC) is responsible for preserving, monitoring, assessing, and providing public access to the Nation’s treasure of <strong>climate and historical weather data and information</strong>.</p><p> Quick link to home page: <a href="http://www.ncdc.noaa.gov/" target="_blank">http://www.ncdc.noaa.gov/</a></p><p> Quick link to NCDC’s climate and weather datasets, products, and various web pages and resources: <a href="http://www.ncdc.noaa.gov/data-access/quick-links" target="_blank">http://www.ncdc.noaa.gov/data-access/quick-links</a></p><p> Quick link to Text & Map Search: <a href="http://www.ncdc.noaa.gov/cdo-web/" target="_blank">http://www.ncdc.noaa.gov/cdo-web/</a></p><p>See all <a href="/data-resources/">data and resources</a> »</p>
  • <h3>Internal Revenue Service: Tax Statistics</h3><p><img width="155" height="200" alt="" src="/live/image/gid/4/width/155/height/200/486_irs_logo.rev.1407789424.jpg" class="lw_image lw_image486 lw_align_left" srcset="/live/image/scale/2x/gid/4/width/155/height/200/486_irs_logo.rev.1407789424.jpg 2x" data-max-w="463" data-max-h="596"/>Find statistics on business tax, individual tax, charitable and exempt organizations, IRS operations and budget, and income (SOI), as well as statistics by form, products, publications, papers, and other IRS data.</p><p> Quick link to <strong>Tax Statistics, where you will find a wide range of tables, articles, and data</strong> that describe and measure elements of the U.S. tax system: <a href="http://www.irs.gov/uac/Tax-Stats-2" target="_blank">http://www.irs.gov/uac/Tax-Stats-2</a></p><p>See all <a href="/data-resources/">data and resources</a> »</p>
  • <h3>National Center for Education Statistics</h3><p><strong><img width="400" height="80" alt="" src="/live/image/gid/4/width/400/height/80/479_nces.rev.1407787656.jpg" class="lw_image lw_image479 lw_align_right" data-max-w="400" data-max-h="80"/>The National Center for Education Statistics (NCES) is the primary federal entity for collecting and analyzing data related to education in the U.S. and other nations.</strong> NCES is located within the U.S. Department of Education and the Institute of Education Sciences. NCES has an extensive Statistical Standards Program that consults and advises on methodological and statistical aspects involved in the design, collection, and analysis of data collections in the Center. To learn more about the NCES, <a href="http://nces.ed.gov/about/" target="_blank">click here</a>.</p><p> Quick link to NCES Data Tools: <a href="http://nces.ed.gov/datatools/index.asp?DataToolSectionID=4" target="_blank">http://nces.ed.gov/datatools/index.asp?DataToolSectionID=4</a></p><p> Quick link to Quick Tables and Figures: <a href="http://nces.ed.gov/quicktables/" target="_blank">http://nces.ed.gov/quicktables/</a></p><p> Quick link to NCES Fast Facts (Note: The primary purpose of the Fast Facts website is to provide users with concise information on a range of educational issues, from early childhood to adult learning.): <a href="http://nces.ed.gov/fastfacts/" target="_blank">http://nces.ed.gov/fastfacts/#</a></p><p>See all <a href="/data-resources/">data and resources</a> »</p>
  • <h3>National Bureau of Economic Research (Public Use Data Archive)</h3><p><img width="180" height="43" alt="" src="/live/image/gid/4/width/180/height/43/478_nber.rev.1407530465.jpg" class="lw_image lw_image478 lw_align_right" data-max-w="329" data-max-h="79"/>Founded in 1920, the <strong>National Bureau of Economic Research</strong> is a private, nonprofit, nonpartisan research organization dedicated to promoting a greater understanding of how the economy works. The NBER is committed to undertaking and disseminating unbiased economic research among public policymakers, business professionals, and the academic community.</p><p> Quick Link to <strong>Public Use Data Archive</strong>: <a href="http://www.nber.org/data/" target="_blank">http://www.nber.org/data/</a></p><p>See all <a href="/data-resources/">data and resources</a> »</p>
  • <h3>Federal Aviation Administration: Accident & Incident Data</h3><p><img width="100" height="100" alt="" src="/live/image/gid/4/width/100/height/100/80_faa-logo.rev.1402681347.jpg" class="lw_image lw_image80 lw_align_left" srcset="/live/image/scale/2x/gid/4/width/100/height/100/80_faa-logo.rev.1402681347.jpg 2x, /live/image/scale/3x/gid/4/width/100/height/100/80_faa-logo.rev.1402681347.jpg 3x" data-max-w="550" data-max-h="550"/>The NTSB issues an accident report following each investigation. These reports are available online for reports issued since 1996, with older reports coming online soon. The reports listing is sortable by the event date, report date, city, and state.</p><p> Quick link: <a href="http://www.faa.gov/data_research/accident_incident/" target="_blank">http://www.faa.gov/data_research/accident_incident/</a></p><p>See all <a href="/data-resources/">data and resources</a> »</p>
  • <h3>Congressional Budget Office</h3><p><img width="180" height="180" alt="" src="/live/image/gid/4/width/180/height/180/380_cbo-logo.rev.1406822035.jpg" class="lw_image lw_image380 lw_align_right" data-max-w="180" data-max-h="180"/>Since its founding in 1974, the Congressional Budget Office (CBO) has produced independent analyses of budgetary and economic issues to support the Congressional budget process.</p><p> The agency is strictly nonpartisan and conducts objective, impartial analysis, which is evident in each of the dozens of reports and hundreds of cost estimates that its economists and policy analysts produce each year. CBO does not make policy recommendations, and each report and cost estimate discloses the agency’s assumptions and methodologies. <strong>CBO provides budgetary and economic information in a variety of ways and at various points in the legislative process.</strong> Products include baseline budget projections and economic forecasts, analysis of the President’s budget, cost estimates, analysis of federal mandates, working papers, and more.</p><p> Quick link to Products page: <a href="http://www.cbo.gov/about/our-products" target="_blank">http://www.cbo.gov/about/our-products</a></p><p> Quick link to Topics: <a href="http://www.cbo.gov/topics" target="_blank">http://www.cbo.gov/topics</a></p><p>See all <a href="/data-resources/">data and resources</a> »</p>
  • <h3>Federal Reserve Economic Data (FRED®)</h3><p><strong><img width="180" height="79" alt="" src="/live/image/gid/4/width/180/height/79/481_fred-logo.rev.1407788243.jpg" class="lw_image lw_image481 lw_align_right" data-max-w="222" data-max-h="97"/>An online database consisting of more than 72,000 economic data time series from 54 national, international, public, and private sources.</strong> FRED®, created and maintained by Research Department at the Federal Reserve Bank of St. Louis, goes far beyond simply providing data: It combines data with a powerful mix of tools that help the user understand, interact with, display, and disseminate the data.</p><p> Quick link to data page: <a href="http://research.stlouisfed.org/fred2/tags/series" target="_blank">http://research.stlouisfed.org/fred2/tags/series</a></p><p>See all <a href="/data-resources/">data and resources</a> »</p>