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Airbnb

Ahead of its participation in the U.S. Conference of Mayors' Summer Meeting in Florida, Airbnb emphasized once more its big sell to local governments in a new report: positive economic impact for the middle class.

According to Airbnb, 60% of U.S. hosts say it has helped them afford to stay in their homes, 51% say they rely on Airbnb income to make ends meet, and 44% of U.S. hosts earn $75,000 a year or less.

Between the lines: Airbnb faces a lot of criticism for contributing to housing crises in cities like San Francisco, and for increasing housing prices, so the home-sharing company is constantly touting such data as a counterpoint, especially to local legislators.

More from this year's report (2016 data):

  • Airbnb supported 730,000 jobs worldwide, including 130,000 in the U.S.
  • $61 billion in estimated economic output from Airbnb worldwide, including $14 billion in U.S. cities.
  • Airbnb has tax agreements with 310 jurisdictions globally, including more than 250 in the U.S. $300 million in hotel and tourist taxes remitted, including more than $270 million in the U.S.
  • 57% of U.S. hosts are in cities with tax agreements.

Go deeper

2 hours ago - World

Biden seeks to reboot U.S. sanctions policy

Sanctions increased under Obama and dramatically under Trump. Photo: Tom Williams/CQ Roll Call

The Biden administration is rethinking the U.S. approach to sanctions after four years of Donald Trump imposing and escalating them.

The big picture: Sanctions are among the most powerful tools the U.S. has to influence its adversaries’ behavior without using force. But they frequently fail to bring down regimes or moderate their behavior, and they can increase the suffering of civilians and resentment of the U.S.

2 hours ago - World

Merkel's farewell spoiled by Poland crisis at EU summit

One last awkward EU "family photo." Photo: John Thys/AFP via Getty Images

Angela Merkel took up her vaunted mantle as Europe's crisis manager for what could be the last time tonight, as she urged the EU to find compromise in its showdown with Poland.

Why it matters: The European Commission has threatened to withhold over $40 billion in pandemic recovery funds after Poland's constitutional tribunal — stacked with loyalists from the ruling right-wing populist party — rejected the principle that EU law has primacy over national law.

Republicans who put it all on the line

Rep. Nancy Mace speaks with reporters after voting to hold Steve Bannon in contempt of Congress. Photo: Anna Moneymaker/Getty Images

A small contingent of House Republicans risked their political futures on Thursday, they say, in the name of constitutional responsibility.

Why it matters: The nine Republicans who voted to hold former Trump aide Steve Bannon in contempt of Congress are now in peril of becoming political pariahs. They've opened themselves up to potential primary challengers and public attacks from their party's kingmaker — former President Trump.