Working & the Economy
In West Tennessee, a group of Black farmers take on Tyson Foods
Brenda Scott’s father came to west Tennessee as a sharecropper. By 1971 — as a result of hard work and government loans — he had 129 acres of his own, some of which his descendants occupy today. His adult children and grandchildren belong to an enclave of Black farming families that have lived in Henderson […]
Voters embraced affordable housing initiatives. Advocates say Congress should do the same.
Voters in Colorado approved a statewide affordable housing initiative in November; while voters in nine cities across the country OK’d measures to finance the construction of affordable housing, preserve existing rental properties and support renters. But as housing costs soar, analysts and advocates say more needs to be done and argue that federal action is […]
U.S. Senate averts freight rail strike, but bid to include worker sick leave fails
WASHINGTON — The U.S. Senate on Thursday voted to codify an agreement the White House brokered between rail unions and freight companies in order to avoid a catastrophic rail strike, but fell short of enough votes to include paid sick leave for workers. The Senate backed the rail deal on an 80-15 vote and rejected […]
U.S. House votes to avert calamitous rail strike, but Senate prospects murky
The U.S. House moved Wednesday to avoid an economically disastrous nationwide rail strike, voting to codify an agreement that members of some unions had already rejected and separately add paid sick leave that workers had demanded. The two-track approach allows Democrats to avert a strike that could cost the U.S. economy up to $2 billion […]
U.S. House to intervene in rail workers strike, heeding Biden call
WASHINGTON — U.S. House Speaker Nancy Pelosi on Monday said the House will take up legislation to ratify an agreement between rail workers and operators in order to avert a nationwide rail strike. “This week, the House will take up a bill adopting the Tentative Agreement — with no poison pills or changes to the […]
Congress knows how to slash child poverty. It just needs to do it.
If you could prevent millions of children from falling back into poverty, would you? Most of us, I imagine, would answer “yes” without hesitation. But not Congress. For nearly a year, lawmakers in Washington, D.C., have dithered as the policy directly responsible for a dramatic decline in poverty last year lapsed. It’s time for Congress […]
LG Chem to invest $3.2B in Clarksville battery operation
LG Chem and state officials announced Monday the South Korean company will invest $3.2 billion in a new cathode manufacturing facility in Clarksville to support the production of electric battery vehicles. The project is expected to create 860 new jobs in Montgomery County and represents the largest single foreign direct investment in state history, according […]
As utilities spend billions on transmission, support builds for independent monitoring
An aging electric grid, fossil fuel power plant retirements and a massive renewable electricity buildout are all contributing to a boom in transmission and distribution wire projects by electric utilities across the country. In 2020, investor-owned electric utilities spent $25 billion on transmission, up from $23.7 billion in 2019, figures that the Edison Electric Institute, […]
How to pay for a football team
(Editor’s note: A previous version of this story misstated the condition of a sales tax related to sales outside the stadium.) To economists, a $2 billion deal for a new Titans stadium is another egregious example of subsidizing privately-owned teams at taxpayer expense. But to Nashville officials, it’s the way out of an eye-popping renovation bill […]
Biden student debt relief plan thrown out by Texas judge; new applications halted
WASHINGTON — Late Thursday a federal judge in Texas struck down the Biden administration’s student debt relief plan, ruling that the program is unlawful, in a blow to 16 million student debt borrowers already approved for relief. The U.S. Department of Education now is no longer accepting applications for the program, according to the student […]
The Fed raises interest rates again, signals more coming despite pressure to slow the pace
The Federal Reserve announced on Wednesday that in its continuing efforts to tamp down inflation, it would raise interest rates yet again by another three-quarters of a point to a target range of 3.75 to 4%. Federal Reserve Chair Jerome Powell said during a press conference following the announcement that the “historically fast pace” of […]
Tennesseans in Appalachia likely to have higher debt and lower income than state average
Tennesseans living in Appalachia are more likely to have medical debt in collections and carry high-interest, subprime loans while earning significantly less than the state and national average, a report by the U.S. Consumer Financial Protection Bureau found. More than half of Tennessee’s 95 counties lie within Appalachia, a region that encompasses 13 states and […]