💵 Is Biden's Budget Big Enough?

Good morning. US stock futures ticked higher in Tuesday morning trading as investors await a key inflation report that could inform the path of the Federal Reserve’s monetary policy.

🪙 Biden lays out $7 trillion budget 

📝 Our report: US President Joe Biden just unveiled his $7.3 trillion spending wish list for the United States. in his budget proposal, Biden wants to sharply raise taxes on corporations and high earners in his second four-year term, the document showed, to help cut the federal deficit and pay for new programs to assist those who make less cope with high housing and child care costs.  

 🔑 Key points:

• Biden's budget for the 2025 fiscal year that starts in October includes raising the corporate income tax rate to 28% from 21%, hiking rates on people making over $400,000, forcing those with wealth of $100 million to pay at least 25% of their income in taxes, and letting the government negotiate to bring more drug costs down.

• Biden also renewed his demand for funding on border security, Israel, Ukraine, Taiwan and other national security issues that has been stalled by Republican congressional leadership for months.

• The U.S. government spends more than it takes in each year, and the majority goes to so-called mandatory programs and military programs, which lawmakers are unlikely to cut.

💡 So what: Crafting a wise national budget is of paramount importance for President Joe Biden and the United States as a whole. A well-crafted budget serves as the financial blueprint for the country, outlining priorities, allocating resources, and addressing key challenges. It influences economic growth, job creation, social welfare, infrastructure development, and national security. A prudent budget helps manage government spending, ensures fiscal responsibility, and promotes long-term sustainability.

Tuesday - Consumer Price Index, Monthly US Federal Budget

Wednesday - No Major Economic News

Thursday - Initial Jobless Claims (wk end Mar 8)

Friday - No Major Economic News

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📷 No cameras allowed!

WHAT: Airbnb just dropped the curtain on a new act: no more indoor security cameras sneaking around its listings! The San Francisco-based online rental platform said it is seeking to “simplify” its security-camera policy while prioritizing privacy. The company said it expects the policy update to impact a small number of hosts because the majority of its listings do not report having indoor security cameras.

WHY: Airbnb had allowed the use of indoor security cameras in common areas, as long as the locations of the cameras were disclosed on the listings page. Under the new policy, hosts will still be allowed to use doorbell cameras and noise-decibel monitors, which are only allowed in common spaces, as long as the location and presence of the devices are disclosed.

🥤 Billion-dollar water!

WHAT: Popular beverage maker Liquid Death seems to be turning water into…well…money! The Los Angeles-based water brand, famous for its social media antics, is now worth a cool $1.4 billion after its latest capital raise.

WHY: The company recently raised $67 million in capital from strategic investors such as distribution partners, as well as from actor Josh Brolin, National Football League player DeAndre Hopkins and Live Nation Entertainment Inc., which sells the products at its concert venues.

🏨 Hotel chain ends hostile takeover bid

WHAT: Well, looks like Choice Hotels is packing up its $8 billion takeover dreams and checking out of the Wyndham Hotels & Resorts bid. Choice said that while it received support from some Wyndham shareholders, it wasn't sufficient enough for the company to conclude that a deal could be done, particularly when taking into account the Wyndham board's opposition to a combination

WHY: Choice launched a hostile takeover offer for Wyndham in December after repeated attempts to reach a deal with the rival hotel chain were rebuffed.

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