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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The Next Steps for Biden’s Stimulus Plan
The new administration and new Congress in Washington are quickly running into the same old debates about Covid relief. President Joe Biden has called for a $1.9 trillion pandemic aid package, but...
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Biden Unveils ‘Wartime’ Covid Response Plan
By Michael RaineyIn his first full day in office, President Joe Biden rolled out a comprehensive plan to address the Covid-19 pandemic, releasing a 200-page document outlining his strategy while signing executive...
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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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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...