Budget Battles
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Has Trump Already Lost His Iron Grip on the GOP?
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House Votes to Dodge Shutdown, Ditching Trump Demand
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Trump-Approved Spending Plan Goes Down in Flames
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Trump Blows Up Johnson’s Bipartisan Spending Deal
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Republicans Fume Over ‘Dumpster Fire’ Funding Bill
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Congress Struggles to Reach Deal to Avert Government Shutdown
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GOP Hardliners Say Border Bill Should Come Before Tax Cuts
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Hawley Proposes Major Increase in the Child Tax Credit
By Michael RaineySen. Josh Hawley is calling for the Child Tax Credit to more than double in value, rising from the current maximum of $2,000 per child to $5,000 per child annually. Parents would be able to claim the...
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House Freedom Caucus Says Border Before Taxes
By Michael RaineyThe House Freedom Caucus said Friday that it wants the new Congress to quickly pass a reconciliation bill focused on border issues and then move on to a second, more complicated bill that addresses...
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Biden Hails ‘Strongest Economy in Modern History’ as Trump Waits in the Wings
By Michael RaineyPresident Joe Biden on Tuesday vigorously defended his economic record while warning that the policies proposed by his successor would be a “major mistake” that would harm American consumers. In a...
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Republicans Already Feel Better About the Economy, While Democrats Dread What’s Ahead
Dictionary publisher Merriam-Webster just named “polarization” its 2024 word of the year , and if you need any evidence that it is an apt choice, consider this: Even before President-elect Donald...
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Penn Economists Propose Reforms to Cut Debt Without Economic Damage
Economists at the Penn Wharton Budget Model have constructed a package of 13 major tax and spending reforms that they say can grow the U.S. economy while also reducing federal debt and enhancing the...
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Extending the Trump Tax Cuts Won’t Do Much for the Economy, CBO Says
By Michael RaineySaying they want to fulfill a pledge made by President-elect Donald Trump and avoid burdening the economy with higher taxes , Republicans in Congress plan to extend the individual tax cuts passed in...
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Republicans Already Clashing Over Details of Trump Policy Rollout
By Michael RaineyWith Republicans in control of all major branches of the federal government starting in January, it seems reasonable to assume that it will be smooth sailing ahead for GOP policymakers as they roll...
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Wall Street Has Doubts About DOGE — but Firmly Believes Trump Will Cut Taxes
Wall Street investors don’t believe that President-elect Donald Trump will fully follow through on some key campaign promises — but they are confident that he will deliver tax cuts. Counting on tax...
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Trump Threatens 100% Tariffs Against BRICS Nations
By Michael RaineyAlthough he will not take office for another seven weeks, President-elect Donald Trump issued a threat to the so-called BRICS nations over the weekend, saying he will impose a 100% tariff on imports...
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Trump Promises Immediate New Tariffs on Mexico, Canada and China
President-elect Donald Trump promised Monday evening that on his first day in office he will slap a 25% tariff on all goods imported from Canada and Mexico — the top two U.S. trading partners — and...
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IRS Faces a Surprise $20 Billion Funding Crunch
The Treasury Department is warning that $20 billion for Internal Revenue Service enforcement efforts is effectively frozen as the result of legislative language used in the stopgap law passed to fund...
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National Debt Tops $36 Trillion
By Michael RaineyOn Thursday, the gross U.S. national debt surpassed $36 trillion for the first time, according to data from the Treasury Department . Debt held by the public – a subset of the gross national debt...
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House GOP Lays Out Priorities for Next Congress
By Michael RaineyRepublicans in the House met behind closed doors Tuesday to lay out their priorities for the new Congress that starts in January, and their to-do list looks pretty familiar to anyone who’s been...
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Trump Plans to Eliminate EV Tax Credit: Report
By Michael RaineyThe transition team for President-elect Donald Trump is discussing plans to kill the tax credit for electric vehicles as part of a larger tax overhaul, Reuters reported Thursday. The tax credit,...
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Will Huge Deficits Weigh on GOP Plan to Slash Taxes?
By Michael RaineyAs Republicans prepare to forge a massive tax bill that could potentially pass via a party-line vote early next year, a crucial question hangs over their heads: How much larger are they willing to...