FBLG Banking Letter - September 2019 Edition
Survey Reports Coming Soon!
Thank you to all who participated in our annual bank compensation survey. The generic and custom reports will be available online in early October. If you have any questions or concerns please contact Kaitlyn Dowd at email@example.com.
Tax Proposals from the Campaign Trail
As the 2020 Presidential Campaign has gotten underway, there is no shortage of proposed programs being put forth by the candidates along with their plans to finance those programs. We will look at the proposed new and extended taxes to give our readers an idea of the nature of the tax proposals, their scale and their relation to policies of the past.
Push for Comprehensive Guidance on Small Dollar Lending
Surveys continue to show that adults have little in the way of savings and would need to borrow money on a short-term basis in order to handle small, around $400, unexpected expenses. For some time now, the needs for small, short-term lending have been met by payday lending operations. Surprisingly, bigger banks have decided to move into this area. Maybe it’s time for smaller banks to do this as well?
Tax Cuts 2.0
President Trump recently mentioned at a House Republicans retreat in Baltimore his desire to have a second round of tax cuts aimed at benefiting the middle class. He is quoted as saying, “It will be a very substantial tax cut for middle-income folks who work so hard.” He also is quoted as saying the tax cut would be, “very, very inspirational.” At this time the President has not released any details on his plan other than he would have a proposal in place to Congress by next year.