The State of the Union's Speech Tonight will be heavy on economic issues.

I'm Novasafo with a Marketplace Minute.

President Biden delivers the address on Capitol Hill this evening.

The White House says he will call for higher taxes on corporations and a minimum

25% tax on billionaires. The President will propose using the funds to reduce the federal debt

and expand the earned income and child tax credits.

Attacks by Yemen's Huti rebels on cargo ships near the Red Sea became deadly yesterday.

A missile struck a ship headed to Saudi Arabia killing three people and injuring others.

The crew abandoned the vessel which was severely damaged.

Initial claims for unemployment benefits held steady last week at 217,000, still indicative of a healthy job market.

Tomorrow the Labor Department releases its monthly jobs report.

New York Community Bank says depositors withdrew 7% of their funds over the past month.

It's the latest sign of distress at the institution,

which yesterday announced a $1 billion investment

from an outside group.

I'm Novasafo with a marketplace minute.