Business & Economy
Business & Economy
![Employers are supposed to stop withholding the payroll tax on Sept. 1. But companies need guidance from the IRS on exactly who is eligible to have their taxes suspended and how to keep track so those taxes can eventually be repaid. CREDIT: Elaine Thompson/AP](https://www.nwpb.org/wp-content/uploads/2020/08/ap_20105837161788-a82b3511e3783a125ed00f6189f17feac841334e-500x500.jpg)
Payroll Tax Delay To Boost Take-Home Pay, But Don’t Spend It Yet
President Trump has directed the Treasury Department to stop collecting payroll taxes this fall in an effort to boost workers’ paychecks. But the move is temporary, and could spark headaches in 2021.
![President Trump speaks during a news conference in Bedminster, N.J., on Saturday, Aug. 8, 2020. CREDIT: Jim Watson/AFP via Getty Images](https://www.nwpb.org/wp-content/uploads/2020/08/gettyimages-1227967293-1-_wide-0d714f8995165268c6348695ff9e592fccdb2182-500x500.jpg)
In Executive Actions, Trump Extends Unemployment Benefits, Defers Payroll Taxes
President Trump signed four executive actions to provide economic relief amid the coronavirus pandemic. They amount to a stopgap measure after not reaching a deal with Congress.
![Stimulus checks are prepared on May 8, 2008, in Philadelphia. In 2020, stimulus checks again went to many Americans, this time during the pandemic's economic fallout. Some of that money went to thousands of foreign workers not eligible to receive the funds. CREDIT: Jeff Fusco/Getty Images](https://www.nwpb.org/wp-content/uploads/2020/08/gettyimages-81027601_wide-6704734ca161855a60fec3aafc2be37e9af6435b-500x500.jpg)
Foreign Workers Living Overseas Mistakenly Received $1,200 U.S. Stimulus Checks
Thousands of foreign workers who entered the U.S. on temporary work visas received $1,200 pandemic stimulus checks in error, and many of them are spending the money in their home countries.
![An employee works inside a Jos. A. Bank retail store in San Francisco. The parent company Tailored Brands earlier said it would close up to 500 stores and cut 20% of corporate jobs. CREDIT: Justin Sullivan/Getty Images](https://www.nwpb.org/wp-content/uploads/2020/08/gettyimages-453816375-f4ca79b0dbedc7aabb7ebccfbc99e29b84dc8d17-500x500.jpg)
Unsuitable For A Pandemic? Add Men’s Wearhouse, Jos. A. Bank To Bankruptcy List
The parent company Tailored Brands earlier said it would close up to 500 stores and cut 20% of corporate jobs. It’s joined in pandemic bankruptcy by rival Brooks Brothers and a growing list of others.
![Western Towboat tugs depart Puget Sound every week of the year to deliver essential supplies to Alaskan towns by barge.](https://www.nwpb.org/wp-content/uploads/2020/07/Alaska-Lifeline-1-500x500.jpg)
Pandemic Hasn’t Interrupted Alaska’s Resupply Lifeline From The Northwest, And Woe If It Does
The coronavirus pandemic has served to remind many of us how much we count on strangers staying healthy so we can restock our cupboards and go about daily life. That’s especially true for Alaskans who depend on a marine cargo lifeline from the Pacific Northwest for the majority of their goods.
![A movie theater is seen closed due to the coronavirus pandemic on July 2, 2020, in Brea, Calif. The U.S. economy shrank at a record 32.9% rate in the second quarter as the pandemic cost tens of millions of jobs. CREDIT: Jae C. Hong/AP](https://www.nwpb.org/wp-content/uploads/2020/07/ap_20184695037343-ee0c040885fbaf941066bf9d88d375fdcaa753d3-500x500.jpg)
U.S. Economy Drops 32.9% In Worst GDP Report Ever
The coronavirus triggered the sharpest economic contraction in modern history in the second quarter as the pandemic hammered the economy, the Commerce Department said Thursday.
![File photo. Customers flocked to the River Mile 38 brewpub in Cathlamet after it reopened its tasting room and patio in mid-May. Wahkiakum County is in the vanguard of Washington counties advancing through Safe Start reopening phases. CREDIT: Tom Banse/N3](https://www.nwpb.org/wp-content/uploads/2020/06/River-Mile-38-Brewpub-in-Cathlamet-Washington-Wahkiakum-County-CREDIT-Tom-Banse-N3-500x500.jpg)
Tri-Cities And Yakima County Get Additional Business And Recreational Openings Within Their Phase 1
Benton, Franklin and Yakima counties have been approved for more business and recreational activities beginning this Saturday. The approval means additional operations within the counties’ current modified Phase 1 – not moving to a full Phase 2.
![Senate Majority Leader Mitch McConnell, R-Ky., left, with President Trump at the White House. The GOP has unveiled a new pandemic relief bill but tough negotiations lie ahead with Democrats. Evan Vucci/AP](https://www.nwpb.org/wp-content/uploads/2020/07/ap_20202559274844_wide-02f96dced24e765502d01d68b75598955653a841-500x500.jpg)
After Delays, Republicans Rolled Out A New Pandemic Relief Bill. Democrats Balked
After days of delays, congressional Republicans unveiled their $1 trillion proposal for a fifth wave of pandemic relief. Democrats are not on board — signaling tough negotiations ahead.
![Demonstrators in Florida ask senators to support the continuation of boosted unemployment benefits. Joe Raedle/Getty Images](https://www.nwpb.org/wp-content/uploads/2020/07/gettyimages-1256539780_wide-d3df319e12a26c00584709ce4870661590d80d58-500x500.jpg)
Lawmakers Are Far Apart On A New Coronavirus Relief Bill. Here Are 5 Sticking Points
State governments face a precipitous drop in revenue, parents and teachers are debating how kids will return to school in the fall, and millions of unemployed workers face the prospect of their pandemic assistance running out at the end of the month.
![Pump jacks operate at dusk near Loco Hills in Eddy County, New Mexico, on April 23. U.S. oil producers are grappling with prolonged low oil prices and the uncertainty created by the coronavirus pandemic. CREDIT: Paul Ratje/AFP via Getty Images](https://www.nwpb.org/wp-content/uploads/2020/07/gettyimages-1210853070_wide-a54795352d1298300b3bacee945a90893a7c833c-500x500.jpg)
Oil Industry, Accustomed To Booms And Busts, Is Rocked By Pandemic
When the price of oil crashes, oil companies often merge and big oil gets even bigger. So this crisis could be an opportunity for companies, but it comes with a tremendous amount of uncertainty.
![England will soon lift a 14-day quarantine requirement for travelers from more than 50 countries and territories, including Italy, Germany, France and Spain, the Department for Transportation said Friday. The U.S. is not among the exempt countries. CREDIT: Matt Dunham/AP](https://www.nwpb.org/wp-content/uploads/2020/07/ap_20160310708546-1180c7d98b7bf170b15978df2b19afec7b7b724d-500x500.jpg)
England To Lift Quarantine Rule For More Than 50 Nations — But Not For The U.S.
Effective July 10, travelers from “reduced risk” countries, including Spain, France, Germany and Italy, won’t have to self-Isolate for 14 days. The U.S. is not among the exempt countries.
![Banks around the country are running low on nickels, dimes, quarters and even pennies due to a change shortage that experts say is being exacerbated by the coronavirus pandemic. CREDIT: Bloomberg/Bloomberg via Getty Images](https://www.nwpb.org/wp-content/uploads/2020/06/gettyimages-94574691-d38a7b61091e94e0ab9645a6c0e5d2318fb3ba53-500x500.jpg)
The Latest Pandemic Shortage: Coins Are The New Toilet Paper
In another sign of how the coronavirus is disrupting commerce, banks are running short of nickels, dimes and quarters. The Federal Reserve, which supplies banks, is having to ration change.