Business
Tax deal faces obstacles as crucial markup looms on January 19, 2024 at 10:30 am Business News | The Hill
A deal reached this week by top tax writing committees in Congress faces a number of hurdles in the House and Senate.
Ahead of a Friday markup scheduled for the bill in the House Ways and Means Committee, lawmakers in both chambers have concerns about how exactly the $70 to $80 billion in tax relief will be divided between an expansion of the child tax credit (CTC) and deductions for businesses.
The Democratic left flank says the bill allots too little for the CTC and restores business credits that were already offsetting a 2017 reduction in the corporate tax rate.
“We should demand more of ourselves than going along with a deal that gives big corporations billions and billions of dollars more in tax breaks than help for struggling families. It just makes no sense at all,” Sen. Elizabeth Warren (D-Mass.) told reporters Wednesday.
“The fact that we’re not prioritizing children first as a country and understanding that that will help our economy, businesses and future entrepreneurs – the whole thing is sort of ridiculous,” Sen. Cory Booker (D-N.J.) said Wednesday.
Republicans argue the CTC expansion is too generous and that people should be working harder to qualify for the credit.
“There are some things that shouldn’t be in there, some of the things on the CTC, for example. It’s always been connected to work. You can get it for one year, but then you can get the thing for two successive years without working,” Sen. John Thune (R-S.D.) said Wednesday. “They increased the refundability amount and indexed the overall credit [to inflation]. There are some things in there that I’ve got to take a look at.”
Revenue tables for the bill hadn’t been released to the public as of Thursday, but the proposal from the Ways and Means Committee allows taxpayers in 2024 and 2025 to use income estimates from prior taxable years in calculating their credit.
Conservatives are troubled that this would mean people who would have to work less to claim the credit — a major sticking point in past efforts to expand the CTC.
“This policy would cut the CTC’s current annual work requirement in half by allowing parents to claim the CTC for two years while working in just one,” Matt Weidinger, a senior fellow with the conservative American Enterprise Institute, wrote in a Wednesday analysis of the proposal.
Beyond disagreements about the substance of the deal, there are procedural questions about what larger package the tax proposal could be attached to, or whether it would be its own separate bill. Standalone tax bills are relatively rare pieces of legislation.
“I think probably it will be a standalone bill,” Rep. Tom Cole (Okla.), a senior Republican appropriator, told The Hill Wednesday. “We’re having enough challenges moving appropriations bills. I don’t know why you’d want to add something else to them right now.”
“I have a lot to criticize in the bill, but I think this is the best we can get at this particular time, realizing the precarious situation that [Speaker Mike] Johnson [R-La.] is in,” Ways and Means Committee member Bill Pascrell (D-N.J.) told The Hill.
Johnson is under pressure from House conservatives to support steeper cuts and stricter immigration policy despite the speaker already striking a bipartisan funding agreement with Senate Majority Leader Chuck Schumer (D-N.Y.).
While Schumer endorsed the deal on the Senate floor Tuesday and Wednesday, and specifically its expansion of low-income housing credits, Johnson still hadn’t weighed in on the deal as of Thursday morning.
Experts on the Congressional tax negotiations process told The Hill the bill is just at the beginning of its journey on the way to becoming a potential law and that the changes to it could be manifold.
“I just have a sense that we may see changes in the markup in Ways and Means, and once we get to the Senate, the Senate always gets its own stuff,” former Ways and Means Committee tax counsel Marc Gerson said in an interview. “And so what we have is a base bill … and I think it’s going to change.”
One source of pressure for more changes to the bill is the $10,000 cap on the state and local tax (SALT) deduction imposed through Republicans’ 2017 Tax Cuts and Jobs Act (TCJA).
Blue-state Republican lawmakers representing districts with high local taxes have insisted on raising the SALT cap in any tax measure.
“I’m a no on a tax package that does not have adequate relief for SALT,” Rep. Nick LaLota (R-N.Y.) told The Hill.
“In high-tax blue states, it’s a popular thing to be pro-SALT, but to also fight for it. And I’m willing to fight for my constituents by voting no against my own party’s tax package unless and until it has meaningful relief on SALT,” he added.
Top tax writers in both chambers say there’s plenty of room to maneuver to get the deal done, specifically with the cancellation of the employee retention tax credit (ERC), which would serve as the deal’s main source of new revenue.
“There’s room on that,” Rep. Richard Neal (D-Mass.), ranking member of the House Ways and Means Committee, told The Hill on Wednesday.
“There’s a lot of moving parts that could bring a lot of Democrats along. We could make some adjustments based on the score [to] refundability on the child tax credit. There’s no inherent hostility on our side to some of the provisions, but we want them better paired with our requests for equitable purposes,” he said.
Neal said he “speculated” that the lion’s share of the roughly $78 billion in tax relief was now going to business credits rather than the expanded CTC.
“With a little bit more raising the ceiling, we could accomplish all the priorities that the members desire,” he added.
IRS Commissioner Danny Werfel was on Capitol Hill last week briefing the Senate Finance Committee on fraudulent activity associated with the ERC claims, which lawmakers say has been rampant as a result of intensive marketing a promotion by lawyers and accountants in the tax prep industry.
“We heard from a whistleblower that with these new claims, 95 percent of them were fraudulent,” Senate Finance Committee chair Ron Wyden (D-Ore.) told The Hill Wednesday. “I asked the commissioner if that was right, and he said, basically, ‘Yes.’”
Enthusiasm for the deal is also high with Wyden’s counterpart on the Senate Finance Committee, ranking member Mike Crapo (R-Idaho).
“The agreement announced … by Chairman Smith and Chairman Wyden is a thoughtful starting point for the House to begin the process,” Crapo said Tuesday.
A White House spokesperson told The Hill the White House looks forward to reviewing the full details of their agreement and supports the work of the tax-writing committees on the CTC and low-income housing.
Despite encouragement from the White House and at the committee level, lawmakers hardly think the tax deal is a lock.
“I hope people don’t try to tamper with it too much, because I think it will all just fall apart,” Cole said.
Business, Domestic Taxes, House, American Enterprise Institute, Bill Pascrell, business taxes, Child Tax Credit, Chuck Schumer, Cory Booker, Danny Werfel, Elizabeth Warren, Mike Crapo, Nick LaLota, Rep. Mike Johnson, Richard Neal, Sen. John Thune, Sen. Ron Wyden, Tax credits, tax fraud, taxes, Tom Cole A deal reached this week by top tax writing committees in Congress faces a number of hurdles in the House and Senate. Ahead of a Friday markup scheduled for the bill in the House Ways and Means Committee, lawmakers in both chambers have concerns about how exactly the $70 to $80 billion in tax relief…
Business
Harvard Grads Jobless? How AI & Ghost Jobs Broke Hiring

America’s job market is facing an unprecedented crisis—and nowhere is this more painfully obvious than at Harvard, the world’s gold standard for elite education. A stunning 25% of Harvard’s MBA class of 2025 remains unemployed months after graduation, the highest rate recorded in university history. The Ivy League dream has become a harsh wakeup call, and it’s sending shockwaves across the professional landscape.

Jobless at the Top: Why Graduates Can’t Find Work
For decades, a Harvard diploma was considered a golden ticket. Now, graduates send out hundreds of résumés, often from their parents’ homes, only to get ghosted or auto-rejected by machines. Only 30% of all 2025 graduates nationally have found full-time work in their field, and nearly half feel unprepared for the workforce. “Go to college, get a good job“—that promise is slipping away, even for the smartest and most driven.
Tech’s Iron Grip: ATS and AI Gatekeepers
Applicant tracking systems (ATS) and AI algorithms have become ruthless gatekeepers. If a résumé doesn’t perfectly match the keywords or formatting demanded by the bots, it never reaches human eyes. The age of human connection is gone—now, you’re just a data point to be sorted and discarded.
AI screening has gone beyond basic qualifications. New tools “read” for inferred personality and tone, rejecting candidates for reasons they never see. Worse, up to half of online job listings may be fake—created simply to collect résumés, pad company metrics, or fulfill compliance without ever intending to fill the role.
The Experience Trap: Entry-Level Jobs Require Years
It’s not just Harvard grads who are hurting. Entry-level roles demand years of experience, unpaid internships, and portfolios that resemble a seasoned professional, not a fresh graduate. A bachelor’s degree, once the key to entry, is now just the price of admission. Overqualified candidates compete for underpaid jobs, often just to survive.
One Harvard MBA described applying to 1,000 jobs with no results. Companies, inundated by applications, are now so selective that only those who precisely “game the system” have a shot. This has fundamentally flipped the hiring pyramid: enormous demand for experience, shrinking chances for new entrants, and a brutal gauntlet for anyone not perfectly groomed by internships and coaching.
Burnout Before Day One
The cost is more than financial—mental health and optimism are collapsing among the newest generation of workers. Many come out of elite programs and immediately end up in jobs that don’t require degrees, or take positions far below their qualifications just to pay the bills. There’s a sense of burnout before careers even begin, trapping talent in a cycle of exhaustion, frustration, and disillusionment.
Cultural Collapse: From Relationships to Algorithms
What’s really broken? The culture of hiring itself. Companies have traded trust, mentorship, and relationships for metrics, optimizations, and cost-cutting. Managers no longer hire on potential—they rely on machines, rankings, and personality tests that filter out individuality and reward those who play the algorithmic game best.
AI has automated the very entry-level work that used to build careers—research, drafting, and analysis—and erased the first rung of the professional ladder for thousands of new graduates. The result is a workforce filled with people who know how to pass tests, not necessarily solve problems or drive innovation.
The Ghost Job Phenomenon
Up to half of all listings for entry-level jobs may be “ghost jobs”—positions posted online for optics, compliance, or future needs, but never intended for real hiring. This means millions of job seekers spend hours on applications destined for digital purgatory, further fueling exhaustion and cynicism.
Not Lazy—Just Locked Out
Despite the headlines, the new class of unemployed graduates is not lazy or entitled—they are overqualified, underleveraged, and battered by a broken process. Harvard’s brand means less to AI and ATS systems than the right keyword or résumé format. Human judgment has been sidelined; individuality is filtered out.

What’s Next? Back to Human Connection
Unless companies rediscover the value of human potential, mentorship, and relationships, the job search will remain a brutal numbers game—one that even the “best and brightest” struggle to win. The current system doesn’t just hurt workers—it holds companies back from hiring bold, creative talent who don’t fit perfect digital boxes.
Key Facts:
- 25% of Harvard MBAs unemployed, highest on record
- Only 30% of 2025 grads nationwide have jobs in their field
- Nearly half of grads feel unprepared for real work
- Up to 50% of entry-level listings are “ghost jobs”
- AI and ATS have replaced human judgment at most companies
If you’ve felt this struggle—or see it happening around you—share your story in the comments. And make sure to subscribe for more deep dives on the reality of today’s economy and job market.
This is not just a Harvard problem. It’s a sign that America’s job engine is running on empty, and it’s time to reboot—before another generation is locked out.
Business
Why 9 Million Americans Have Left

The Growing American Exodus
Nearly 9 million Americans now live outside the United States—a number that rivals the population of several states and signals a profound shift in how people view the American dream. This mass migration isn’t confined to retirees or the wealthy. Thanks to remote work, digital nomad visas, and mounting pressures at home, young professionals, families, and business owners are increasingly joining the ranks of expats.

Rising Costs and Shrinking Wallets
Living in the US has become increasingly expensive. Weekly grocery bills topping $300 are not uncommon, and everyday items like coffee and beef have surged in price over the last year. Rent, utilities, and other essentials also continue to climb, leaving many Americans to cut meals or put off purchases just to make ends meet. In contrast, life in countries like Mexico or Costa Rica often costs just 50–60% of what it does in the US—without sacrificing comfort or quality.
Health Care Concerns Drive Migration
America’s health care system is a major trigger for relocation. Despite the fact that the US spends more per person on health care than any other country, millions struggle to access affordable treatment. Over half of Americans admit to delaying medical care due to cost, with households earning below $40,000 seeing this rate jump to 63%. Many expats point to countries such as Spain or Thailand, where health care is both affordable and accessible, as a major draw.

Seeking Safety Abroad
Public safety issues—especially violent crime and gun-related incidents—have made many Americans feel unsafe, even in their own communities. The 2024 Global Peace Index documents a decline in North America’s safety ratings, while families in major cities often prioritize teaching their children to avoid gun violence over simple street safety. In many overseas destinations, newly arrived American families report a significant improvement in their sense of security and peace of mind.
Tax Burdens and Bureaucracy
US tax laws extend abroad, requiring expats to file annual returns and comply with complicated rules through acts such as FATCA. For some, the burden of global tax compliance is so great that thousands relinquish their US citizenship each year simply to escape the paperwork and scrutiny.
The Digital Nomad Revolution
Remote work has unlocked new pathways for Americans. Over a quarter of all paid workdays in the US are now fully remote, and more than 40 countries offer digital nomad visas for foreign professionals. Many Americans are leveraging this opportunity to maintain their US incomes while cutting costs and upgrading their quality of life abroad.

Conclusion: Redefining the Dream
The mass departure of nearly 9 million Americans reveals deep cracks in what was once considered the land of opportunity. Escalating costs, inaccessible healthcare, safety concerns, and relentless bureaucracy have spurred a global search for better options. For millions, the modern American dream is no longer tied to a white-picket fence, but found in newfound freedom beyond America’s borders.
Business
Will Theaters Crush Streaming in Hollywood’s Next Act?

Hollywood is bracing for a pivotal comeback, and for movie lovers, it’s the kind of shake-up that could redefine the very culture of cinema. With the freshly merged Paramount-Skydance shaking up its strategy, CEO David Ellison’s announcement doesn’t just signal a change—it reignites the passion for moviegoing that built the magic of Hollywood in the first place.

Theatrical Experience Roars Back
Fans and insiders alike have felt the itch for more event movies. For years, streaming promised endless options, but fragmented attention left many longing for communal spectacle. Now, with Paramount-Skydance tripling its film output for the big screen, it’s clear: studio leaders believe there’s no substitute for the lights, the hush before the opening credits, and the collective thrill of reacting to Hollywood’s latest blockbusters. Ellison’s pivot away from streaming exclusives taps deep into what unites cinephiles—the lived experience of cinema as art and event, not just content.
Industry Pulse: From Crisis to Renaissance
On the financial front, the numbers are as electrifying as any plot twist. After years of doubt, the box office is roaring. AMC, the world’s largest theater chain, reports a staggering 26% spike in moviegoer attendance and 36% revenue growth in Q2 2025. That kind of momentum hasn’t been seen since the heyday of summer tentpoles—and it’s not just about more tickets sold. AMC’s strategy—premium screens, with IMAX and Dolby Cinema, curated concessions, and branded collectibles—has turned every new release into an event, driving per-customer profits up nearly 50% compared to pre-pandemic norms.
Blockbusters Lead the Culture
Forget the gloom of endless streaming drops; when films like Top Gun: Maverick, Mission: Impossible, Minecraft, and surprise hits like Weapons and Freakier Friday draw crowds, the industry—and movie fans—sit up and take notice. Movie-themed collectibles and concession innovations, from Barbie’s iconic pink car popcorn holders to anniversary tie-ins, have made each screening a moment worth remembering, blending nostalgia and discovery. The focus: high-impact, shared audience experiences that streaming can’t replicate.
Streaming’s Limits and Studio Strategy
Yes, streaming is still surging, but the tide may be turning. The biggest franchises, and the biggest cultural events, happen when audiences come together for a theatrical release. Paramount-Skydance’s shift signals to rivals that premium storytelling and box office spectacle are again at the center of Hollywood value creation. The result is not just higher profits for exhibitors like AMC, but a rebirth of movie-going as the ultimate destination for fans hungry for connection and cinematic adventure.

Future Forecast: Culture, Community, and Blockbuster Dreams
As PwC and others warn that box office totals may take years to fully catch up, movie lovers and industry leaders alike are betting that exclusive theatrical runs, enhanced viewing experiences, and fan-driven engagement are the ingredients for long-term recovery—and a new golden age. The Paramount-Skydance play is more than a business move; it’s a rallying cry for the art of the theatrical event. Expect more big bets, more surprises, and—finally—a long-overdue renaissance for the silver screen.
For those who believe in the power of cinema, it’s a thrilling second act—and the best seat in the house might be front and center once again.
News4 weeks agoDiddy Wakes Up to Knife in Prison Attack
Entertainment4 weeks agoKim and Kanye’s Daughter North West Faces Criticism Over Her Tattoos
Health4 weeks agoOral Sex Is Spreading More Than Pleasure — It’s Fueling a Cancer Surge
Business4 weeks agoHarvard Grads Jobless? How AI & Ghost Jobs Broke Hiring
Entertainment2 weeks agoAfter Party: Festival Winner for Best Romantic Short
News1 week agoCamp Wackapoo – Rise of Glog Takes Center Stage
Entertainment1 week agoFrancisco Ramos Takes Top Mockumentary Award at Houston Comedy Film Festival
Politics2 weeks agoMamdani’s Victory Triggers Nationwide Concern Over New York’s Future




















