Companies can carry losses back as many as five years in the past, which allows previously profitable companies to mitigate their losses through the pandemic economy.
The $2.25 trillion proposal would pump money into transportation, renewable energy, manufacturing, and other areas of the economy—funded by undoing corporate tax breaks passed during the Trump administration.
Britain and the European Union (EU) took their first step since Brexit to cooperate on financial services, agreeing on a new forum to discuss market regulation.
The Federal Reserve chair said the U.S. central bank will wait until the economy has "all but fully recovered" to pull back the monetary support it rolled out in response to Covid-19.
