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This Week in Economic News: October 19 – October 23, 2020

October 23, 2020 — Blog

Business Formation Statistics ICYMI: A Rebirth of Entrepreneurialism Over 500,000 new high propensity business applications were made during the third quarter. High propensity business applications, year over year, grew by over 66%. The historical average yearly growth before 2020 Q3 is ...

IRS Audit Rates Increase Substantially as Income Rises

October 23, 2020 — Blog

On Tuesday, October 20, IRS Deputy Commissioner for Services and Enforcement Sunita Lough shared a blogpost showing that, despite misleading claims from Democrats, IRS audit rates are higher for wealthy taxpayers than lower-income workers. There are several important takeaways from her post, but Lough’s point is simple: “the reality is that the audit rate grows as income ...

ICYMI: Sec. Azar: Why Operation Warp Speed is a Made-in-America story

October 23, 2020 — Blog

Health and Human Services Secretary Alex Azar laid out in an op-ed for Fox Business how Operation Warp Speed (OWS) is utilizing the public and private sectors to deliver a vaccine to COVID-19 at record pace. Key Points:  "It is now highly credible that OWS will have produced up to 100 million doses of safe and effective

Building on Ways and Means GOP Efforts, HHS Works to Improve Maternal Health

October 22, 2020 — Blog

Key Points:  -The U.S. Surgeon General issued a challenge to providers to help fight our nation’s rising maternal mortality rate. -Providers should work to “address care for women with hypertension who are pregnant and/or postpartum” and “breastfeeding initiation and continuation disparities among breastfeeding mothers.” -The Administration also announced a new ...

Medicare Open Enrollment is Happening Now!

October 16, 2020 — Blog

Key points: 2021 Medicare Open Enrollment is officially open and will run through December 7, 2020. People with Medicare can review health and drug plans and make changes to their healthcare coverage for next year based on their financial and medical needs. People who want to keep their current Medicare coverage do not need to ...

Trump Administration: Paying for Results To Get Faster COVID-19 Diagnostic Testing

October 16, 2020 — Blog

Key Takeaway: Building on actions to bolster laboratory testing for COVID-19, the Trump Administration is making changes to Medicare payments made to laboratories in order to incentivize faster and more efficient diagnostic test results. Yesterday, CMS announced that, starting January 1, 2021, Medicare will pay $100 only to laboratories that are able to process high throughput ...

Unemployed Workers, Abandoned by House Democrats, Continue to Receive Relief Through Trump Administration

October 15, 2020 — Blog

More than 25 million Americans who lost their job due to COVID-19 shut downs continue to receive unemployment benefits. Yet, Speaker Pelosi and House Democrats continue to stall additional targeted COVID-relief, including for unemployed workers. In August, President Trump stepped-in to fill the void caused by Democrats’ inaction by using executive authority to create the