The KUIK Morning Market Report for Tuesday, March 7:
Markets are down.
Index
Direction
Change
Units
Time
Dow
Down
(26)
points
20,929
7:15 AM
S&P500
Down
-0.2%
percent
2,370
Nasdaq Composite
Down
-0.2%
percent
5,838
30 Year Treasury
Up
1
Basis Points
3.11
Annual Yield
House Republicans on Monday released their first detailed proposal to replace Obamacare. The legislation woud dismantle much of the 2010 Affordable Care Act and creates a new, refundable tax credit tied to an individual’s age and income aimed at helping Americans buy insurance if they don’t get it at work. The tax credits would replace the subsidies Obamacare gave to a smaller number of lower-income people to help them buy health insurance. It would end the mandate that individuals buy insurance or pay a penalty, as well as the requirement that larger businesses offer insurance to their employees. It would end increased funding in 2020 for expanding Medicaid for low-income individuals. In a provision sure to be controversial, the proposal bars federal funding for Planned Parenthood.
U.S. Citizenship and Immigration Services said it will temporarily suspend fast-track processing for the skilled-worker visa program. That could slow down the process of hiring foreign workers here in the Silicon Forest. Starting April 3 and running for up to six months, the agency will no longer allow H-1B applicants to pay an additional fee of $1,225 to get a response within 15 days.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
