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Texas Economy News | Business, Finance, and Market Updates

Price-fixing conspiracy in US oil industry cost families money, reports allege

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Analysis of corporate profits and accusations of collusion by the FTC lend support to the idea that a broader oil industry conspiracy drove up post-Covid inflation for everyday Americans.
Texas Economy News | Business, Finance, and Market Updates

The super rich and big corporations to face more scrutiny from Biden’s IRS

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Using an infusion of funds provided by President Biden’s Inflation Reduction Act, the IRS has already collected more than $520 million from 1,600 millionaires who had unpaid tax bills of more than $250,000.
Texas Economy News | Business, Finance, and Market Updates

Biden makes 4 million more workers eligible for overtime pay

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The US Department of Labor says updated regulations will increase income thresholds to ensure lower-income salaried employees are fairly compensated when they work more than 40 hours per week.
Texas Economy News | Business, Finance, and Market Updates

Biden administration bans noncompete clauses for workers

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The new rule bans new noncompete agreements for the vast majority of American workers and requires employers to let current and past employees know they won’t enforce them going forward. Companies will also be required to throw out existing noncompete agreements.
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