Commentary: New IRS requirements raise questions about vow to only expand audits on rich (msn.com)

Government reports have suggested that small businesses and gig workers account for a disproportionate share of the tax gap — the total amount of tax underpayments and nonpayments. Lowering the 1099-K reporting threshold to $600 per year is clearly meant to address that perceived gap.

How Big Tech fought antitrust reform — and won | The Hill

Despite significant lobbying,  this antitrust bill was not included in the 4000+ page Omnibus Package passed by House and Senate to fund the government through Sept 30, 2023. 

Regional court nullifies Kenya-US trade agreements (alptrade.africa)

Hagerty, Manchin propose $10,000 threshold for Venmo, PayPal tax reporting change (cnbc.com)

The Inform Bill Summary (S. 936 117th Congress; Durbin (D-IL))

This bill requires online marketplaces to collect, verify, and disclose certain information from high-volume, third-party sellers.

High-volume, third-party sellers include online marketplace participants that conduct 200 or more transactions resulting in total revenues of $5,000 or more during a continuous 12-month period. Online marketplaces must acquire these sellers' (1) bank account numbers, (2) government-issued identification, (3) tax identification numbers, and (4) contact information. Online marketplaces must verify this information and annually certify any changes to it.

Further, online marketplaces must make certain information (e.g., sellers' names and contact information) available to consumers through the sellers' product listings and provide consumers with methods to report electronically and by telephone any suspicious activity on the marketplace.

The bill provides the Federal Trade Commission with the authority to enforce these requirements.

USTR Extends Exclusions from China Section 301 Tariffs | United States Trade Representative

LA/LB imports drop double digits; slump predicted through spring (freightwaves.com)

The absence of a West Coast port labor contract is a major factor.  Volumes are down 24% . The Chinese New Year holiday is expected to run Jan 7 through Feb 6 for many companies.

Chart: The Fed Is Moving Historically Fast to Tame Inflation | Statista

Interest Rates were historically low. However, since March the Fed has raised the rate by an unprecedented 425 basis points to counter inflation.  Inflation is too much cash chasing too few goods- an imbalance in supply and demand. 

US Senators Warren, Marshall Introduce Digital Assets Anti-Money Laundering Bill (msn.com)

Biz groups say Biden independent contractor rule clashes with federal law (msn.com)

The Biden proposal requires that contractors be considered employees if they are "economically dependent" upon the company. It would replace a Trump administration rule that allows those who own a business or who work for competing companies to be treated as contractors.  A final decision will be in the Spring.