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Reuters | April 12, 2020
Major U.S. airlines were urging Treasury officials and the federal government’s outside advisers on Saturday to scrap or revise a proposal that would make part of the $25 billion earmarked by Congress to help keep workers on the payroll repayable in the form of low-cost loans. Treasury Secretary Steven Mnuchin told the airlines on Friday the government would require them to repay 30% of the grants in low-cost loans over 10 years — with the first five years at 1% interest — befo...
The Hill | January 22, 2020
New York City and its financial community have had a long-standing symbiotic relationship. Many of the world’s great financial institutions have been headquartered here, giving NYC the distinction of being the world’s financial center. But rapid technological change is threatening that designation. A recent New York Times article titled “How Big Tech is Turning New York into a Silicon Valley Rival” proclaimed the coming of a golden age of tech jobs in New York City. The f...
The Labor Department | February 13, 2020
The Labor Department is joining the General Services Administration’s Centers of Excellence program in a bid to modernize and automate the department’s procurement process. The Technology Transformation Service—the GSA program that houses the CoEs—announced Thursday that Labor would be partnering with the newest center, focused on spreading the use of artificial intelligence throughout government. “This newest CoE engagement will accelerate the modernization of DOL&...
MPA | April 02, 2020
The US government has stepped in to mitigate the coronavirus outbreak’s impact on the economy, which may otherwise leave millions unable to pay their mortgages. However, the government is putting borrowers on the honor system. The $2 trillion CARES Act, passed to stimulate the economy during the COVID-19 outbreak, allows borrowers affected by the outbreak to skip mortgage payments for up to a year, and then have those payments added on to the end of their loans....
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