USA OUTLOOK MARCH 18 TO 22

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www.amchamguate.com WEEKLY NEWSLETTER March 18 TO 22 0001111NOVEMBER 00 USA OUTLOOK

US IRS chief sees workforce topping 100,000 within three years

Internal Revenue Service Commissioner Danny WerfelsaidonMondaythatthetaxagency willneed to boost its workforce to over 100,000 people over the next three years to achieve its modernization, service and enforcement goals and additional funding will be needed to maintain that extra capacity.

Werfel told reporters on his first anniversary in the IRS' top job that near-term hiring will focus on improving taxpayer services and on handling complex audits.

Headdedthat theIRSwilldetailits hiring plans next month in an update to its strategic operating plan, opens new tab for deploying some $60 billion in supplemental funding over a decade from the 2022 Inflation Reduction Act.

"We're at 90,000 now. I think to get into a right-size positionoverthenexttwotothreeyears,we needto be above 100,000, but not that much above 100,000," Werfel said.

Souce:

https://www.reuters.com/world/us/us-irs-chief-sees-workforce-topping-100000within-three-years-2024-03-19/

With deal set on US agency funding, Congress rushes to finalize bill language

The U.S. Congress on Tuesday labored against a tight deadline to write a massive bill funding military, homeland security and a range of other government programs following a deal reached by congressional leaders and the White House.

Failureto act by midnight Friday wouldmeanthat many federal offices will be ordered to begin shutting down some operations.

The package was expected to cover about threequarters of the $1.66 trillion in discretionary government spending for the fiscal year ending Sept. 30.

The last sticking point in closed-door negotiations was funding for the Department of Homeland Security, as a surge in migrants at the U.S.-Mexico border has become a major issue in the election rematch between Democratic President Joe Biden and his Republican predecessor Donald Trump.

March 19, 2024 March 18, 2024
Photo REUTERS/Elizabeth Frantz/File Photo Purchase Licensing Rights Photo: REUTERS/Leah Millis/Foto de archivo Compra de derechos de licencia
https://www.reuters.com/world/us/us-lawmakers-reach-preliminary-agreementkeep-government-funded-2024-03-19/
Souce:

US Congress struggling to reach spending deal to avert weekend shutdown

A fractured U.S. Congress struggled behind the scenes on Wednesday to produce a massive spending bill to fund defense, homeland security and other programs that lawmakers must pass before the weekend to avert a partial government shutdown.

Republican House of Representatives Speaker Mike Johnson and other House Republican leaders said theyhopetovoteonFriday,leavingtheDemocraticmajority Senate just hours to meet a midnight deadline by passing legislation that is expected to cover about three-fourths of the $1.66 trillion in discretionary government spending for the fiscal year that began on Oct. 1.

"Right now, if Republicans and Democrats continue to work together in good faith to fund the government, I'm hopeful we can avert a shutdown," Senate Majority Leader Chuck Schumer said at a press conference.

Apple accused of monopolizing smartphone markets in US antitrust lawsuit

The U.S. Department of Justice and 15 states on Thursday sued Apple (AAPL.O), opens new tab as the government cracks down on Big Tech, alleging the iPhone maker monopolized the smartphone market, hurt smaller rivals and drove up prices.

Apple joins competitors sued by regulators, including Alphabet's Google, Meta Platforms and Amazon, across the administrations of both former President Donald Trump and President Joe Biden.

"Consumers should not have to pay higher prices because companies violate the antitrust laws," Attorney General Merrick Garland said in a statement. "If left unchallenged, Apple will only continue to strengthen its smartphone monopoly."

Souce:

Souce:

https://www.reuters.com/world/us/us-congress-struggling-reach-spending-dealavert-weekend-shutdown-2024-03-20/

https://www.reuters.com/legal/us-takes-apple-antitrust-lawsuit-2024-03-21/

March 21, 2024 March 20, 2024
Photo: REUTERS/Mike Segar Purchase Licensing Rights

Biden cancels $6 billion in student loan debt for 78,000 public service workers

U.S. President Joe Biden announced Thursday that $6 billion in student loans would be canceled for 78,000 borrowers, bringing his administration's total student debt cancellation to nearly $150 billion. Biden, a Democrat, last year pledged to find other avenues for tackling debt relief after the Supreme Court in June blockedhisbroaderplantocancel$430billioninstudentloandebt.Thelatestgroupincludespublicservice workers, like teachers, nurses and firefighters, who qualify under the Public Service Loan Forgiveness Program created in 2007 to forgive student debt for Americans who go into public service.

"These public service workers have dedicated their careers to serving their communities, but because of past administrative failures, never got the relief they were entitled to under the law," Biden said in a statement. As of June 2023, about 43.4 million U.S. student loan recipients had $1.63 trillion in outstanding loans, according to the Federal Student Aid website. Higher education debt has tripled since the 2008 financial crisis

Souce:

https://www.reuters.com/world/us/biden-cancels-6-billion-student-loan-debt78000-public-service-workers-2024-03-21/

March 22, 2024
Photo REUTERS/Kevin Lamarque/File Photo Purchase Licensing Rights

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