quarterly

Airbnb slumps as gloomy forecast fans slowdown fears

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Airbnb slumps as gloomy forecast fans slowdown fears

Airbnb shares fell more than 6% due to weak forecasts for the second quarter, with concerns about slowing growth at the vacation rental firm. The company projected lower revenue for the current quarter, with a relatively flat growth rate of room nights booked. Investors were worried about moderating leisure travel demand in the US. Despite the slump in shares, some analysts believe the pullback is an overreaction and that the outlook for 2024 remains relatively unchanged.

Indiana tax changes drive General Fund expectation miss • Indiana Capital Chronicle

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Indiana tax changes drive General Fund expectation miss • Indiana Capital Chronicle

Tax revenue to Indiana’s General Fund fell more than 12% below projections last month, with the fund taking in 3 million less than expected in April. The decline was mainly due to lower individual income tax collections, which were 0 million or 17% short of predictions. Corporate tax collections also fell by about 33% below expectations. Despite the monthly miss, the fund is still ahead year-to-date, with collections 0.1% greater than forecasted.

Biden plans for higher taxes on the ultra-wealthy and corporations to extend middle-class tax breaks

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Biden plans for higher taxes on the ultra-wealthy and corporations to extend middle-class tax breaks

Director of the National Economic Council Lael Brainard spoke at the White House about the upcoming debate over trillions in expiring tax breaks enacted by former President Donald Trump. Several provisions from the Tax Cuts and Jobs Act of 2017 will expire after 2025 without changes from Congress, including lower federal income tax brackets, a higher standard deduction, and doubled estate and gift tax exemption. The Republicans’ tax package also permanently reduced corporate taxes. Brainard emphasized the need to end tax breaks for the ultra-wealthy and scale back costly corporate tax breaks. The debate over extending the tax breaks comes amid concerns about the national debt. Biden’s administration aims to extend provisions for middle-class Americans funded by raising taxes on the ultra-wealthy and corporations. House Republicans are studying solutions to address the upcoming tax cliff in 2025.