Michael Rainey
Recent Stories By Michael Rainey:
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How Elon Musk Is Firing Up the DOGEJanuary 14, 2025
The efficiency and cost-cutting effort known as DOGE is taking formative steps ahead of President-elect Donald Trump’s return to the White House, and The New York Times has some new details about...
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Biden Goes Out With a Bang in the Jobs MarketJanuary 11, 2025
President Joe Biden is ending his term in office with a remarkably strong labor market. According to data released Friday by the Labor Department, employers added a surprising 256,000 jobs in...
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$2 Trillion in Spending Cuts? Musk Now Says DOGE Might Get to $1 TrillionJanuary 10, 2025
Elon Musk has made some big claims about the potential savings to be won by the efficiency effort he is leading under the new Trump administration, but on Thursday he admitted that the $2 trillion...
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Trump Considers Declaring National Emergency to Speed Tariff RolloutJanuary 9, 2025
Donald Trump’s unwavering faith in the power of tariffs was on display again this week as he threatened to use import taxes "at a very high level" against Denmark in his quest to acquire Greenland,...
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Bipartisan Senate Report Slams Private Equity Involvement in HealthcareJanuary 8, 2025
Private equity investments in healthcare may harm patients, providers and hospitals, according to a new report released by Sens. Sheldon Whitehouse, the Rhode Island Democrat who chaired the Senate...
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Trump Doubles Down on Universal Tariff PolicyJanuary 7, 2025
President-elect Trump has vowed to impose a new slate of tariffs on imported goods as part of an effort to boost domestic production, raise federal revenues and punish competing nations, but the...
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Johnson Wins Speaker’s Gavel After GOP Holdouts Flip VotesJanuary 3, 2025
The outcome was uncertain until the final moment, but Republicans on Friday succeeded in electing Mike Johnson to a new term as speaker of the House, kicking off the 119th Congress and a new era of...
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Another $20 Billion Cut from IRS FundingJanuary 2, 2025
The battle over enhanced funding for the IRS took a new twist in December as Republican lawmakers set up another $20 billion cut for the tax agency in the short-term funding deal that prevented a...
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Congress Approves Bill to Boost Social Security for Public Sector WorkersDecember 23, 2024
In a move that could boost benefits for about 2.4 million retirees, the Senate passed the Social Security Fairness Act this weekend, sending it to President Biden for his signature. Approved by the...
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Biden Administration Scraps Student Loan Forgiveness PlanDecember 21, 2024
The Biden administration indicated Friday that it is scrapping its proposed plan to provide student loan forgiveness for upwards of 25 million borrowers. Education Secretary Miguel Cardona said that...
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What Happens if the Government Shuts DownDecember 20, 2024
Although Republicans have produced a last-minute bill that would avoid a government shutdown, there’s still a fair chance that lawmakers will fail to agree on the path forward in the next 36 hours,...
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Hawley Proposes Major Increase in the Child Tax CreditDecember 18, 2024
Sen. 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...