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Celebrating World Trade Month

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The following is a cross-post by Gilbert Kaplan, Under Secretary of Commerce for the International Trade Administration During World Trade Month, the International Trade Administration (ITA) will celebrate our commitment to preserving free, fair, and reciprocal trade that enhances American prosperity. Our nation is among the most innovative and open economies in the world, and for decades the...

Real GDP Increases in 49 States and District of Columbia

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The following is a cross-post from the Bureau of Economic Analysis Real gross domestic product (GDP) increased in 49 states and the District of Columbia in the fourth quarter of 2018. The percent change in real GDP in the fourth quarter ranged from 6.6 percent in Texas to 0.0 percent in Delaware. Wholesale trade, mining, and information services were the leading contributors to the increase in...

Remembrance: Perspective of a Second Generation Holocaust Survivor

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I remember that cold April some years ago when my son Michael and I walked through the Buchenwald Concentration Camp in Germany. It was Michael’s suggestion to visit the place where my father Benjamin and his brother Berek were imprisoned as Jews with the other “untermenchen” which is German for inferior people or “beneath human.” For many years I resisted the idea of making a pilgrimage to a...

GDP Increases in First Quarter

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Real gross domestic product increased 3.2 percent in the first quarter of 2019, according to the “advance” estimate released by the Bureau of Economic Analysis. In the fourth quarter of 2018, real GDP increased 2.2 percent. GDP Highlights The increase in real GDP reflected increases in consumer spending, inventory investment, exports, government spending, and business investment that were partly...

Tax Cuts and Jobs Act Creates Opportunity Zones to Spur Investment in Underserved Areas

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The following is a cross-post from the U.S. Minority Business Development Agency (MBDA) Opportunity Zones are a tool created by the Tax Cuts and Jobs Act of 2017 to spur investment on underserved areas. They offer investors a tax incentive by investing their unrealized capital gains into a designated “Opportunity Fund.” Did you know that there are $2.3 trillion of unrealized capital gains in the...

The Tax Cuts and Job Act: New Low Taxes and New Investments to Distressed Communities

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Today marks the first Tax Day under the new President Trump Tax Code, this massive tax cut benefits everyday working families and supports American businesses. In 2018, Americans started benefiting from the President’s Tax Cuts and Jobs Act as their take-home pay increased due to a lower tax burden and companies large and small passed the benefits of the business tax cuts on to their employees in...

Commerce Secretary Wilbur Ross Presents Five Organizations with Malcolm Baldrige National Quality Award

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The following is a cross-post from the National Institute of Standards and Technology (NIST) Noting that this year's winners “are held in highest esteem in your communities and, now, in our nation," U.S. Secretary of Commerce Wilbur Ross presented five U.S. organizations on April 7, 2019, with the Malcolm Baldrige National Quality Award, the nation's only presidential award for performance...

Secretary Ross Addresses White House Opportunity and Revitalization Council

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U.S. Secretary of Commerce Wilbur Ross participated in this week’s White House Opportunity and Revitalization Council meeting hosted by President Donald Trump. During the council meeting, Secretary Ross highlighted the innovative steps taken by the U.S. Department of Commerce to encourage private investment in Opportunity Zones. He shared how the Economic Development Administration and Minority...