Econ 101: August 25, 2011

Welcome to ThinkProgress Economy’s morning link roundup. This is what we’re reading. Have you seen any interesting news? Let us know in the comments section. You can also follow ThinkProgress Economy on Twitter.

  • “The broad contours” of President’s Obama’s jobs package “are coming into focus,” and it could include an infrastructure bank to upgrade roads, airports, and schools, a payroll tax cut extension, and tax breaks for businesses that hire more workers. [Reuters]
  • France approved a 3 percent extra tax on the wealthy as part of its deficit reduction package just days after some of the country’s wealthiest citizens asked for a tax increase. [BBC]
  • Obama will propose ideas for how the Congressional supercommittee can exceed $1.5 trillion in spending cuts. [CNN]
  • The Obama administration is “weighing a range of proposals” to strengthen the housing market, including one that would allow homeowners to refinance mortgages at current low interest rates. [New York Times]
  • The federal budget deficit will reach $1.3 trillion in 2011, according to the Congressional Budget Office. [Washington Post]
  • The Dept. of Labor and the State Dept. opened investigations into a Pennsylvania packing plant owned by Hershey’s after hundreds of international exchange students walked off the job last week, protesting strenuous working conditions and low pay. [New York Times]
  • European regulators in France, Spain, and Italy will consider extending a ban on short selling in a continuing effort to stem market volatility. [Bloomberg]
  • Apple stock slumped upon announcement of CEO Steve Jobs’ resignation. [CNN]