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Analysis

The monthly 'Child Tax Credit' is good for Arizona families — and for the lawmakers who support it

By reinstating the expanded and monthly child tax credit, which expired earlier this year, 92% of all children in Arizona would benefit, and millions of families would see immediate relief from inflation.... Read more»

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Americans cite inflation as top problem facing the country

A Pew Research Center survey released Thursday indicates that inflation is the most concerning issue facing the U.S. public, as a declining share of Americans say the COVID-19 pandemic, unemployment and racism are big problems. ... Read more»

FactCheck: Biden’s economic spin

In a May 10 speech on inflation and the economy, President Joe Biden made some misleading claims and used political spin to criticize Republicans and promote his policies.... Read more»

Court tees up truckers to get paid for time spent in rigs not driving

At a time of spiraling inflation and high gas prices, the First Circuit showed little concern about an argument that America’s supply-chain problems will be even worse if truck drivers must be paid for the time they spend on the road but not working. ... Read more»

Fed hopes for 'soft landing' for U.S. economy, but history suggests it won’t be able to prevent recession

With inflation surging to a new 40-year high and continuing to accelerate, the Fed is expected to lift interest rates a planned seven times in 2022 to cool demand and slow rising prices - but there is a likelihood of a recession in the not too distant future. ... Read more»

Rising construction costs stall affordable housing projects

Developers across the country are scrambling to find gap financing to cover increased material and labor costs - and the construction slowdown is coming at a time when there is a desperate need to increase the nation’s supply of affordable housing. ... Read more»

Analysis

U.S. gas prices are over $4 a gallon. These oil CEOs took home over $20M.

Oil and gas CEOs received nearly $45m more in combined total compensation in 2021 compared to 2020 amid a spike in prices.... Read more»

The Tucson agenda

Sahuarita to consider off-ramp to taking over water company

Sahuarita Town Council members will discuss how to head off a legal battle and look at a draft deal with Global Water Co., which swooped in to buy the system the town was preparing to take over. Plus, what's on tap for other local government meetings this week. ... Read more»

Arizona unemployment hit 'historic' low of 3.3% in March, new data shows

Arizona’s unemployment rate fell to 3.3% in March, the lowest rate in almost a half-century, but the lower unemployment rate might also reflect a pandemic-driven drop in the labor force that has left some businesses hard-pressed to fill job openings.... Read more»

U.S. inflation rose at fastest rate in 40 years, Phoenix grew even faster

The U.S. cost of living surged 8.5% over the past 12 months, the fastest one-year increase in more than 40 years, driven by skyrocketing gas, food and housing prices - and consumers in the Phoenix area have been seeing even sharper increases.... Read more»

Biden to release 180 million oil barrels to lower gas prices

President Joe Biden announced the largest-ever release of oil from the nation’s strategic reserves Thursday as part of the administration’s strategy to lower gas prices, which have faced escalatory pressure since Russia’s invasion of Ukraine last month. ... Read more»

White House, Republicans and oil industry spin domestic oil production facts

With the U.S. blocking new purchases of Russian oil, the White House, Republicans and the oil industry are engaged in a disagreement over whether the administration has hampered domestic oil production or whether the industry is holding back - both sides are spinning the facts.... Read more»

In face of rampant inflation, Federal Reserve raises interest rates for first time since 2018

Citing massive inflation and the invasion by Ukraine by Russia, the Federal Reserve raised interest rates Wednesday for the first time in three years while also predicting more rate hikes to come. ... Read more»

As rents soar, states take aim at local zoning laws

In 2021, U.S. rents rose faster over the previous year than they have in the past 20 years - with average rent prices in Arizona increasing 27% between Jan 2021 and Jan. 2022 - leaving many low- and medium-income renters priced out of homes and lawmakers rethinking zoning laws.... Read more»

Increasingly scarce affordable housing is making renters ask: Where do we go?

In January 2022, median rents in the U.S. reached their highest level yet as the United States is facing an expanding gap between how much workers earn and how much they have to pay for housing. ... Read more»

Hobbs: Arizona should have state child tax credit, more help for working families

Democratic gubernatorial frontrunner Katie Hobbs is calling for a handful of new tax credits and sales tax exemptions aimed at helping working families, including child care assistance and a state-level version of a recently expired federal child tax credit. ... Read more»

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