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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.

  • Over two dozen university and college presidents are teaming up to foster legal protection for undocumented December 12
    Over two dozen university and college presidents are teaming up to foster legal protection for undocumented “Dreamers”; US Small Business Optimism at Highest Level since 1983; Wholesale prices higher than expected in November.
  • The House and Senate on Thursday passed a two-week stopgap spending measure known as a continuing resolution (CR... December 11
    House to vote on bill to overhaul Department of Homeland Security cyber unit; Congressional leaders pass two-week stopgap spending measure, scramble to reach agreement on spending bill; Conference Board’s Employment Index Decreases in November.
  • Photo of President Trump giving a speech December 8
    U.S. adds 228,000 jobs in November, signaling solid job growth; Consumer sentiment slips unexpectedly in December, falling from October highs.
  • With the government set to run out of funding Friday, the GOP is scrambling to put together enough votes for a continuing ... December 7
    Shutdown looms as GOP scrambles for votes; Jobless claims decline for third week in a row. 
  • The Senate Banking Committee on Tuesday approved the nomination of Jay Powell to serve as the chairman of the Fe... December 6
    Senate panel approves Jay Powell to serve as chairman of Federal Reserve; U.S. labor productivity increases 3.0% in Q3 2017; Private sector employers added 190,000 jobs in November.
  • President Trump on Monday signed an executive order to shrink two massive monuments in Utah, Bears Ears and Grand Staircas... December 5
    Trump reduces two Utah national monuments; Supreme Court allows travel ban to go into effect; The US trade deficit reaches 9 month high.
  • The Senate passed the most sweeping tax reform bill in decades early on Saturday, in a 51-49 vote, with only Republic... December 4
    Senate Republicans Pass Tax Bill; GOP pushes to pass measure to avoid government shutdown; U.S. factory orders edge slightly lower and core capital goods orders revised up.
  • On a party line vote, the Senate voted to move to formal debate on the GOP’s tax legislation, a so called “must wi... November 30
    EPA to hold biofuels quota steady; Global trade steams ahead in uncertain geopolitics; Price pressures strengthen case for rate hike.
  • Pending home sales rebound 3.5% in October as South recovers from hurricane. The pending home sales index, which measures ... November 29
    Sens. Marc Rubio (Fla.) and Mike Lee (Utah) plan to offer Senate tax bill amendment to further expand child tax credit; The U.S. Economy Grows Faster than Expected in Third Quarter, as GDP Expands at 3.3 Percent Annual Rate; Pending home sales rebound 3.5% in October as South recovers from hurricane.
  • A Tuesday meeting of the Senate budget committee had revealed some hurdles for the Republican tax bill. November 28
    New Federal Reserve Chair nominee pledges to continue policies of Yellen and Bernanke; 2018 global economic growth predictions strong.
  • Two officials who both claim to be the rightful acting director of the Consumer Financial Protection Bureau are battling f... November 27
    Two directors battle for control of Consumer Financial Protection Bureau; CBO finds that proposed Senate tax bill would hurt low-income Americans; U.S. new home sales surge in October, hitting a 10-year-high.
  • hairman of the FCC Ajit Pai will reveal plans to deregulate the disparate treatment of internet traffic, so called November 21
    Homeland Security ends temporary residency for 60,000 Haitians; US home sales speed up.
  • A pipeline installation between farms, as seen from 50th Avenue in New Salem, North Dakota. November 20
    Congress faces growing health crisis in Puerto Rico; Leading Economic Indicators increased by 1.2 percent in October.
  • The House passed the most sweeping tax overhaul in three decades on Thursday, with 227 Republican votes in a bill that wou... November 17
    Senate passes defense bill and sends to Trump’s desk for signature; U.S. Housing Starts Increase More Than Expected in October.
  • The sicker risk pools resulting from its repeal might increase premiums or give insurers the incentive to leave the insura... November 16
    Senate passes battlefield medical approvals bill; Individual mandate repeal attached to tax bill, sparking fears of rising premiums; US to be a big driver of oil production growth over the next decade; Jobless claims tick up on Puerto Rico backlog, underlying data strong.
  •  The House of Representatives overwhelmingly passed a nonbinding resolution that the US’ involvement in the civ... November 14
    House declares US Yemen involvement unauthorized; Produce prices up on services, inflation ticking up; Central Bankers to continue investor guidance. 
  • Trump on Monday said the final GOP tax bill should repeal the ObamaCare individual mandate for health insurance ... November 13
    President Trump calls for repeal of ObamaCare’s individual mandate and cuts to top tax rate; Annual defense policy bill nearly complete; Analysis determines that Senate tax bill would make taxes jump for many earning under $200,000.
  • Senate Republicans released their own version of tax-reform legislation on Thursday, breaking with President Trump by offe... November 10
    Senate GOP takes different approach to tax reform than House; Trump Administration taking steps to crack down on opioid trafficking; Consumer sentiment reaches 97.8 in November compared to 100.9 estimate.
  • U.S. Military Troops. November 9
    Critics decry Amazon amendment in military funding legislation; GOP Senators mark-up tax code, delaying corporate tax cuts until 2019; Stocks fall on tax plan worries; Jobless claims hover below 240,000.
  • The GOP tax plan would add $1.7 trillion to the national debt.  November 8
    Repealing ObamaCare mandate would save $338 billion over 10 years, according to CBO analysis; Demand for construction workers soft, even after hurricanes.
  • Despite the enrollment period’s shorter time frame and reduced funding for third party “navigators,” over 200,00... November 7
    Record number of enrollees in the first few days of the Obamacare signup period; Job openings hold steady, near record high; Oil prices high on Saudi arrests
  • ObamaCare mandate repeals have resurfaced. November 6
    Trump puts pressure on Congress to repeal ObamaCare health insurance mandate; William Wehrum nominated by Trump as new leader of EPA Office of Air and Radiation; Employment Index rises after hurricane-related declines.
  • The economy added over 260,000 jobs last month. November 5
    House votes to repeal ObamaCare Medicare Independent Payment Advisory Board (IPAB); U.S. Added 261,000 Jobs in October; Unemployment Rate at 4.1%; U.S. trade deficit widens despite increase in exports.
  • Consumer confidence beat estimates, rising to 125.9 for the month of October, the highest level since December 2000.  October 31
    Tech and social media execs testify on the Hill; Judge blocks transgender military ban; Consumer confidence at 17 year high; Wages increase, raising labor costs.
  • Trump Administration issues new airport security rules. U.S.-bound passengers are facing a new wave of stricter airline se... October 30
    GOP Chairman says he plans to include deduction for local property taxes in forthcoming legislation; Bipartisan group calls to reauthorize funding for community health centers; Trump Administration issues new airport security rules; U.S. consumer spending grows at fastest rate since 2009.
  • The president is declaring the national opioid use and overdose epidemic a public health emergency, but is stopping short ... October 26
    FCC Chairman indicates Commission will vote to roll back regulations on media diversity; GOP budget squeaks by the House; Jobless claims up, labor market tight; Trump to declare opioid crisis a public health emergency.
  • A bipartisan health care bill sponsored by Sens. Lamar Alexander (R-Tenn.) and Patty Murray (D-Wash.) would reduce the def... October 25
    CBO reports that bipartisan health care bill would reduce deficit by $4B over 10 years; Congressional Democrats introduce legislation to allow states to set up public option for health-care insurance; GOP congressional leaders scrambling to agree on tax deduction before budget vote; U.S. durable goods orders increase 2.2% in September, vs. 1.0% expected increase; U.S. new home sales race to nearly 10-year high in September.
  • United States Senate.  October 24
    Bipartisan group of senators to announce bill for NSA reform; House to vote on Senate Budget Thursday; Oil gains on exit plan news, shrinking stockpiles. 
  • President Donald Trump discusses his new tax plan.  October 23
    Trump voices support for higher tax bracket for wealthy in new tax plan; Trump promises no changes to 401(k) in proposed tax plan; Florida, Texas lose 135,000 jobs in midst of hurricanes, but likely to rebound.
  • Senators Mark Warner and Amy Klobuchar have secured a key ally for their political ad disclosure bill, Republican senator ... October 19
    McCain signs on to social media political ad disclosure bill; Trump to nominate new FTC chair; Lowest jobless claims in 44+ years; Oil falls on inventory, despite OPEC signaling of continued production cuts ahead of Nov meeting.

PENN WHARTON PPI
RESOURCE SPOTLIGHT:

  • <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>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>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>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>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>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>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>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>
  • <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>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>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>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>