Budget Battles
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Biden Signs 17 Executive Actions on Day 1
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Yellen Tells Congress to ‘Act Big’ to Rescue the Economy
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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 Signs 17 Executive Actions on Day 1, With Promise of More to Come
President Biden signed a flurry of executive orders just hours after taking the oath of office on Wednesday, hastening to enact his agenda to address the coronavirus pandemic and to reverse Trump...
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Yellen Tells Congress It’s Time to ‘Act Big’ to Rescue the Economy
Incoming Treasury Secretary Janet Yellen on Tuesday urged Congress to “act big” and deliver more relief to the pandemic-ravaged economy. As she sought to build support for the $1.9 trillion rescue...
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Poll of the Day: About Those $600 Checks
By Michael RaineyMost Americans say the coronavirus stimulus money currently being disbursed by the U.S. Treasury won’t last more than a few weeks, according to a new survey from the personal finance website Bankrate...
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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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Congress Looks to Punt Funding Bill Into Next Week
By Michael RaineyWith just a few days to go before significant parts of the federal government are forced to shut down, lawmakers are contemplating a short-term bill to give themselves a little more time to work out...
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Closing In on a Covid Relief Bill
By Michael RaineyCongressional leaders are still hoping to attach a Covid relief package to the annual government funding bill, with the goal of passing both before lawmakers leave town for the holidays. Negotiators...
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Biden Calls for Urgent Action on $900 Billion Stimulus Deal
President-elect Joe Biden on Friday called for “urgent action” on a coronavirus-relief package, indicating that lawmakers should pass a bipartisan compromise package as a “down payment” toward...
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Growing Chorus for Stimulus as Job Growth Slows
By Michael RaineyThe U.S. economy added a disappointing 245,000 jobs in November, the Labor Department announced Friday, the weakest job growth since the economy started recovering in May from the first wave of...
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Stimulus Deal Gains Steam as McConnell, Pelosi Talk
The prospects of a coronavirus relief bill of some sort passing before the end of the year picked up momentum on Thursday, as House Speaker Nancy Pelosi (D-CA) and Senate Majority Leader Mitch...