News Round Up-September 2021

August jobs report: America Added only 235,000 jobs in August – CNN
America’s jobs recovery hit a major roadblock in August as the Delta variant threatened the labor market recovery, and the US economy added far fewer jobs than expected.

Consumer Protection Group Wants to Boost Transparency for Small Business Loans (cnbc.com)
The Consumer Financial Protection Bureau proposed a rule Wednesday to raise transparency around loans for small businesses. If finalized, the federal agency’s rule would require lenders to collect and report more data about credit applications from small businesses, including demographic and pricing data and reasons for which lenders deny a loan.

IRS Updates Per Diem Rates for Travel Expenses for 2021-2022 – Accounting Today
The Internal Revenue Service has issued the special per diem rates that take effect Oct. 1, 2021, which taxpayers can use to substantiate the amount of expenses for lodging, meals, and incidental expenses when traveling away from home.

House Democrats Outline Tax Increases for Wealthy Businesses and Individuals – The New York Times (nytimes.com)
The draft proposal includes raising the corporate tax rate to 26.5 percent for the richest businesses to help pay for President Biden’s sweeping expansion of the social safety net.