Economics

After a year of soaring inflation, the IRS has raised the dollar amounts needed to qualify in each tax bracket for 2023, along with increases in standard deductions and other areas. The IRS has seven tax rates based on income levels – 10 percent, 12 percent, 22 percent, 24 percent, 32 percent, 35 percent, and 37 percent. The rates for 2023 have remained the same but the amounts needed to qualify for each bracket have increased. For example, in 2022, the 22 percent bracket for those married and filing jointly

Most local businesses have experienced employee shortages. Why are they continuing and what is the solution if any solution exists? Those were the million-dollar questions and the focus of the Augusta Metro Chamber of Commerce’s member economic luncheon. It came as no surprise when guest speaker, Dr. Melinda Pitts, Research Center Director from the Center for Human Capital Studies at the Federal Reserve Bank in Atlanta, pointed to the COVID-19 pandemic as being responsible for the upheaval in America’s economy. Even with the end of the public health emergency on

Destination Augusta, a non-profit corporation that promotes tourism in the Augusta River Region, expects events this month to generate a total estimated economic impact of at least $1.4 million for the area. This weekend, more than 25,000 people are expected to attend the Augusta Air Show at the Augusta Regional Airport, and Destination Augusta estimates 1,000 of those attendees will spend money at local hotels, restaurants, and other businesses, generating an estimated economic impact of more than $172,000. “The meetings and groups segment of our travel market is a key