Budget Battles
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Stimulus Deal Gains Steam as McConnell, Pelosi Talk
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Pelosi and Schumer Make a Big Concession on Stimulus
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Senators Float $908 Billion Stimulus Compromise
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What Biden’s New Economic Team Says About His Agenda
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What Biden’s Pick of Yellen Means for the Economy and Stimulus
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Trump Threatens Veto of Defense Bill
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Virus Surge Could Wallop the Economy Again
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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...
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Trump Doubles Down on Veto Threat
By Michael RaineyDespite pushback from both sides of the aisle, President Trump on Thursday reiterated his threat to veto the annual National Defense Authorization Act if lawmakers fail to include in the bill a...
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Most Small Business Aid Went to Bigger Businesses: Report
By Michael RaineyThe Paycheck Protection Program was meant to help small businesses keep employees on the payroll for up to eight weeks at the height of the pandemic last spring and summer, but larger businesses...
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Congress Pushes Back on Trump’s Threat to Veto Defense Bill
By Michael RaineyIn a pair of tweets late Tuesday, President Trump threatened to veto the National Defense Authorization Act unless lawmakers repeal certain legal protections for social media companies. Trump claimed...
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Pelosi and Schumer Make a Big Concession on Stimulus
Coronavirus stimulus discussions saw some dramatic movement on Wednesday, but it’s not clear yet whether that will translate to real progress toward a deal. House Speaker Nancy Pelosi (D-CA) and...
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Centrist Senators Float $908 Billion Stimulus Deal
By Michael RaineyIn an effort to break the stalemate over the next coronavirus relief bill, a bipartisan group of lawmakers on Tuesday released the outline of an emergency spending package totaling $908 billion...
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Long Agenda, Little Time in Washington
By Michael RaineyLame-duck lawmakers returned to Washington this week with some major issues on their plate but just a few legislative days left to address them. Most pressingly, a short-term agreement to fund the...
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What Biden’s New Economic Team Signals About His Agenda
President-elect Joe Biden on Monday announced his picks for top members of his economic team, with choices that signal a strong focus on providing relief for a Covid-stricken economy and help for the...
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Court Rejects Trump Effort to Cut Food Stamps
By The Fiscal Times StaffA federal judge on Sunday rejected a Trump administration plan to cut $5.5 billion from the Supplemental Nutrition Assistance Program over the next five years. The proposed rule change would allow...
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Stimulus Deal or No Deal? Pelosi Sets Tuesday Deadline
By Michael RaineyIt may not have a made-for-TV theme song, but Nancy Pelosi’s ultimatum does pack some dramatic punch: 48 hours or we’re done. House Speaker Pelosi (D-CA) said Sunday that a deal must be reached...
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2021 Stimulus Size Hinges on Senate More Than President: Goldman Sachs
The election contest between President Trump and former vice president Joe Biden has been called the most consequential of our lifetime — and more voters say the race matters to them than in decades...
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US Deficit Soars to $3.1 Trillion
By Michael RaineyThe federal budget deficit topped $3.1 trillion in the 2020 fiscal year, the U.S. Treasury announced Friday, marking the largest annual deficit in U.S. history. As a share of the economy, the deficit...
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Pelosi Cites Progress, but Warns of Poison Pills in Stimulus Deal
House Speaker Nancy Pelosi (D-CA) and Treasury Secretary Steven Mnuchin said after a nearly 90-minute negotiating session Thursday that they had made some progress toward a coronavirus relief package...