Budget Battles
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Companies Could Still Pay $0 in Taxes Under Biden Plan
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The Tax Fight That Could Derail Biden’s Infrastructure Plan
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Republicans Prepare Counteroffer to Biden’s Infrastructure Plan
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Tax Cheats Cost the US $1 Trillion a Year, IRS Chief Says
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Deficit Hits Record $1.7 Trillion in First Half of Fiscal Year
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Biden Seeks Huge Spending Boost in First Budget
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Manchin Throws Another Wrench Into Biden Agenda
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Republicans Struggle to Build an Infrastructure Alternative
By Michael RaineyRepublican lawmakers are unified in their opposition to President Joe Biden’s $2.3 trillion infrastructure proposal, rejecting both its massive size and expansive scope. But they’re reportedly having...
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Americans Like What They See in Biden Infrastructure Plan
By Michael RaineyA new poll released Thursday adds to the growing body of evidence showing that Americans like President Joe Biden’s plan to go big on infrastructure spending. A New York Times-Survey Monkey poll...
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Is This How a Bipartisan Deal on Infrastructure Gets Done?
By Michael RaineyRepublicans and Democrats appear to be far apart on President Joe Biden’s $2.3 trillion infrastructure proposal, with GOP lawmakers criticizing the size and scope of the plan as well as the tax...
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The Tax Fight That Could Derail Biden’s Infrastructure Plan
A bipartisan group of House members from high-tax states on Thursday launched a caucus focused on repealing the $10,000 limit on state and local tax deductions imposed as part of the 2017 Republican...
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New Batch of Stimulus Payments Brings Total Sent to More Than $376 Billion
The U.S. government said Wednesday that it had sent out another round of $1,400 Economic Impact Payments, more commonly called stimulus checks. This batch, the fifth under the American Rescue Plan...
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Senate Democrats Propose Sweeping Reform of Unemployment System
Two Senate Democrats on Wednesday introduced legislation to overhaul the nation’s unemployment insurance system after the coronavirus exposed flaws in the existing structure. The sweeping proposal...
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As Republicans Prepare a Counteroffer, Voters Signal Support for Biden’s Infrastructure Plan
By Michael RaineyRepublican lawmakers are preparing their own infrastructure proposal as a counteroffer to President Joe Biden’s $2.3 trillion American Jobs Plan. The still-developing proposal is expected to be...
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As Biden Names End Date, Here’s How Much the War in Afghanistan Has Cost
By Michael RaineyPresident Joe Biden plans to pull U.S. troops from Afghanistan by September and will announce his decision tomorrow, White House sources told The Washington Post Tuesday. The September timeframe...
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New Child Tax Credit Payments Start in July, IRS Says
By Michael RaineyThe IRS expects to begin sending checks in July to families who qualify for the new $3,000 child tax credit, Commissioner Charles Rettig told a Senate committee Tuesday. The temporary tax credit is...
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Deficit Hits Record $1.7 Trillion in First Half of Fiscal Year
By Michael RaineyDriven by unprecedented spending in response to the Covid-19 pandemic, the federal budget deficit rose to a record $1.7 trillion in the first six months of the 2021 fiscal year, the Treasury...
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Biden Says He’s ‘Prepared to Negotiate’ on Infrastructure Plan and How to Pay for It
President Joe Biden met Monday with a bipartisan group of lawmakers as he begins what will be a weeks-long push to win congressional support for his nearly $2.3 trillion infrastructure plan. “I’m...
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Why the White House Isn’t Too Worried About Inflation
By Michael RaineyWhile Fed chief Powell has repeatedly downplayed the risk, some economists and policymakers are worried that the U.S. economy could stumble into a 1970s-style inflationary spiral produced by the...
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Biggest Boom Since 1946?
By Michael RaineyEconomic forecasters have been offering increasingly optimistic outlooks as the pace of vaccination accelerates in the U.S., indicating that the economy could be headed for its best performance in...
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Biden Seeks Big Spending Boost in First Budget
The Biden administration unveiled its first budget proposal on Friday, asking Congress for $1.52 trillion in discretionary spending for 2022, including major boosts in funding for education, health...
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Third Largest Deficit on Record in March
By Michael RaineyThe federal budget deficit came to $658 billion in March, the Congressional Budget Office announced Thursday. One of the largest monthly totals on record, behind only June and April of last year, the...