Budget Battles
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Trump's Legacy: $7.8 Trillion Rise in Debt
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Biden Unveils $1.9 Trillion ‘American Rescue Plan’
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Trump Impeached Again: What's Next?
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America’s Infrastructure Gap Will Hit $5.6 Trillion: Report
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Trump Impeachment Could Delay Biden Stimulus
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Biden Calls for Trillions More in Covid Relief
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Dems Pledge $2,000 Checks as Biden Agenda Gets a Boost
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Why Biden’s Ambitious Covid Relief Plan Could Get Cut in Half
By Michael Rainey and Yuval RosenbergPresident-elect Joe Biden’s plan to “rescue” the American economy proposes $1.9 trillion in federal spending to fund a national vaccine program, boost unemployment benefits, provide additional direct...
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Orszag, Rubin and Stiglitz Call for a New Fiscal Framework
The consensus on the dangers of rising debt has shifted dramatically over the last decade. Economists have been reexamining how best to spur recovery and encourage wider-spread prosperity as...
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Biden Unveils $1.9 Trillion ‘American Rescue Plan’
President-elect Joe Biden on Thursday unveiled an economic relief package that calls for $1.9 trillion in aid, including money for $1,400 direct payments to most Americans as well as $350 billion in...
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Unemployment Claims Surge Along With the Coronavirus
By Michael RaineyAbout 965,000 people filed initial jobless claims in state unemployment systems last week, the Department of Labor announced Thursday. The new filings far exceeded economists’ expectations,...
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Democrats Plan a Major End Run Around the GOP
By Michael RaineyYou’ll probably be hearing a lot about “budget reconciliation” in the coming weeks, as Democrats work to pass a substantial spending package in the early days of the Biden administration. The term...
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America’s Infrastructure Gap to Hit $5.6 Trillion by 2039: Report
The gap between America’s projected infrastructure investment needs and its likely spending on those needs is projected to top $2.6 trillion by 2029 and more than $5.6 trillion by 2039, according to...
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Trump Administration Hands Republicans a Big Win on Medicaid Funding
By Michael RaineyThe Trump administration delivered a long-sought victory to Republicans late last week by approving a request from Tennessee to receive Medicaid funding as a block grant. As part of a 10-year “...
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Trump Impeachment Could Delay Biden Stimulus
By Michael RaineyPresident-elect Joe Biden’s plan to pass a multi-trillion-dollar stimulus package in the early days of his administration could get caught up with the looming impeachment of President Trump. House...
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Paycheck Protection Program Restarts
The Paycheck Protection Program reopened on Monday with $284 billion in funding authorized under the coronavirus relief package passed last month and revamped rules meant to get forgivable loans to...
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Deficit Hits $572 Billion for First Three Months of Fiscal 2021: CBO
The federal budget deficit for the first quarter of fiscal year 2021 totaled $572 billion, up $215 billion from the same period a year earlier, the Congressional Budget Office estimated on Monday...
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Biden’s Covid Czar: We’ll Need Billions More to Fight Pandemic
By Michael RaineyPresident-elect Joe Biden has promised a more robust federal response to the Covid-19 pandemic, with a set of ambitious goals that include delivering 100 million vaccine shots in his first 100 days...
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Unemployment Scams: ‘Largest Fraud Attack on the U.S. Ever’
By Michael RaineyAt least 10% of the $360 billion Congress provided for unemployment benefits in the Cares Act has been distributed improperly, mostly due to fraud, according to a preliminary analysis by the Office...
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1.2 Million Unemployed Still Waiting for Benefits: Analysis
By Michael RaineyMillions of unemployed Americans will start receiving an additional $300 per week in jobless benefits, thanks to the $900 billion coronavirus relief bill signed into law on December 28. But about 1.2...
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40% of Famers’ Income From Federal Government in 2020: USDA
By Michael RaineyAlthough total receipts dipped in 2020, American farmers are expected to record their highest net income in seven years – thanks in large part to payments from the federal government that accounted...
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Georgia Runoff Elections Could Determine Next Stimulus — and Much More
Happy new year! We hope your 2021 is off to a good start. Here’s a look where things stand and some key dates ahead as we plow into the first year of the Biden administration and the 117 th Congress...