Budget Battles
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Biden Unveils ‘Wartime’ Covid Response Plan
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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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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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Trump Sows Chaos With New Demands on Covid Relief Bill
President Trump on Tuesday night abruptly threw the $900 billion Covid relief package approved by Congress into chaos, calling the bill that his administration helped craft a “disgrace” and demanding...
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Congress Plans Post-Christmas Session to Try to Override Trump Veto
By Michael RaineyPresident Trump has announced that he plans to veto the $741 billion National Defense Authorization Act, which Congress passed with veto-proof majorities earlier this month. The bill, which has...
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Airlines Get $15 Billion in Aid — or $500,000 for Each Rehired Worker
By Michael RaineyThe new Covid-19 relief package will give U.S. airlines $15 billion, with the money intended to be used to bring about 32,000 workers back onto payrolls. But the airline business is in terrible shape...
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Biden Promises to Pursue Another Big Stimulus, Including Checks
President-elect Joe Biden on Tuesday praised Congress for passing the relief bill, but he said the package is “far from perfect” and reiterated that he sees it as just a “down payment” on an...
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Too Little, Too Late? Covid Relief Bill Meets Its Critics
As expected, the House and Senate both passed the $900 billion coronavirus relief package and a $1.4 trillion catchall spending bill on Monday night. The House approved the measures by a 359-53 vote...