Budget Battles
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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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Insurrection at the Capitol
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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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Jobs Recovery Falters in December
By Michael RaineyU.S. payrolls shrank by 140,000 in December, bringing the jobs expansion that started in April to a halt, the Department of Labor announced Friday. The job losses were concentrated in the leisure and...
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Biden Calls for Trillions More in Covid Relief
President-elect Joe Biden said Friday that he is working on a new multi-trillion-dollar coronavirus relief package that would include increasing the $600 direct payments provided in legislation...
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Pelosi, McConnell Meet to Break Stimulus Stalemate
The months-long stalemate over another coronavirus relief package may finally be coming to an end. Congressional leaders met for an hour Tuesday afternoon and said they will be meeting again tonight...
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State and Local Tax Revenues Better Than Expected
By Michael RaineyMany economists worried that local tax revenues would fall sharply in the wake of the coronavirus pandemic, creating a long-lasting drag on the economy as payrolls shrank and public investment...
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Trump Cites Another Reason He’ll Veto Defense Bill
By The Fiscal Times StaffPresident Trump has repeatedly threatened to veto the $741 billion National Defense Authorization Act, demanding that it be revised to include a repeal of Section 230 of the Communications Decency...
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Liability Shield Isn’t a Priority for Americans: Poll
By The Fiscal Times StaffAnother round of individual stimulus checks is at the top of most Americans’ lists for the next coronavirus relief bill, according to a new poll from Yahoo Finance-Harris. Asked what they thought is...
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Congressional Negotiators Close In on $1.4 Trillion Spending Bill
House and Senate negotiators are reportedly closing in on an agreement on a $1.4 trillion omnibus spending bill for fiscal year 2021, which began October 1. The deal would avert a government shutdown...