April 8, 2021

American

American Rescue Plan cuts health insurance costs for thousands of Vermonters

A hospital bill from the University of Vermont Medical Center. Photo by Mike Dougherty/VTDigger

The American Rescue Plan will save millions of dollars for Vermonters who buy health insurance on the state exchange, according to officials. 

The newly enacted federal stimulus package dramatically expands access to tax credits that subsidize health insurance, effectively cutting the cost of health care for thousands of Vermont residents across nearly every income level.

“The big message I think for Vermonters is that this is a really good thing,” said Addie Strumolo, deputy commissioner for the Department of Vermont Health Access.

The law caps the

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Regulator Deems Florida-Based American Capital Assurance Corp. Insolvent

After negative moves by ratings agencies last month to address its financial issues, Florida’s insurance regulator says American Capital Assurance Corp. (AmCap) is insolvent and should be placed in receivership,

In a letter dated April 2 to Chief Financial Officer Jimmy Patronis, Florida Insurance Commissioner David Altmaier said the Office of Insurance Regulation (OIR) has determined that grounds exist for the “initiation of delinquency proceedings” against AmCap. Included in the letter is a consent to order of receivership signed by AmCap “in which it admits that is insolvent.”

The Florida-based insurer, which focused on commercial residential and non-residential property risks,

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Beijing Targets American Business – WSJ

In the weeks that surrounded President Biden’s inauguration, Chinese leaders waged an information campaign aimed at the U.S. Their flurry of speeches, letters and announcements was not, as the press first assumed, addressed mainly to the new administration. It was an effort to target the U.S. business community.

The Communist Party’s top diplomat, Yang Jiechi, spoke to a virtual audience of American business leaders and former government officials in early February. He painted a rosy picture of investment and trade opportunities in China before warning that Tibet, Xinjiang, Hong Kong and Taiwan are “red lines” that Americans would do well

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Asian American business owners are protecting themselves against racist attacks

Since the March 14 incident, the threats to Nguyen’s life and business have escalated. Last week, someone wrote “hope it burns down” on the Instagram account for his restaurant, Noodle Tree. An anonymous man phoned the restaurant, reciting Nguyen’s home address with a warning: “We’re coming for you.”

“The threats are getting more violent, more extreme,” said Nguyen, 33.

The United States is no stranger to anti-Asian racism. As early as 1882, the Chinese exclusion act banned Chinese immigration for 10 years. (Monica Rodman, Sarah Hashemi/The Washington Post)

Asian American entrepreneurs across the country are combating a sharp rise

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American Airlines Secures $10 Billion Financing Package

The COVID-19 pandemic has dealt a huge blow to the U.S. airline industry over the past year. Fortunately, most U.S. airlines entered 2020 with solid balance sheets, thanks to strong industry profitability over the previous decade.

Among major airlines, American Airlines (NASDAQ:AAL) was an exception to this rule. The airline giant squandered billions of dollars on share buybacks in recent years, even as it spent heavily to upgrade its fleet. That put it in a weak position compared to peers like Delta Air Lines (NYSE:DAL). However, American just bought itself time by lining up $10 billion of new financing.

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American Rescue Plan Act of 2021 offers billions more in small-business grants

Millions of small businesses could be eligible for new or beefed-up grant programs if some of the provisions in the House-passed Covid-19 relief bill become law.

The grants, part of the American Rescue Plan Act of 2021 passed by the House on Saturday, would still need to be considered in the Senate version of the legislation and passed by Congress before heading to President Joe Biden for his signature. And parts of the legislation might already be in jeopardy, with Democrats dealing with a setback on a $15-per-hour minimum wage that will likely prevent its inclusion in the Senate version.

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