Budget Battles
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Fed's Powell Warns Congress on the Economy
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Two Key Senators Say No to Biden’s Budget Office Pick
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Manchin May Sink Key Biden Nomination
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Democrats Call for IRS Crackdown on the Rich
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Covid Fuels a $24 Trillion Surge in Global Debt
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Biden Brings His Stimulus Pitch to Prime Time
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Is the IRS Up to the Challenge of Biden’s Rescue Plan?
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Tanden Votes Postponed in Latest Sign of Trouble for Biden’s Budget Nominee
Two Senate committees abruptly delayed planned votes Wednesday on Neera Tanden’s imperiled nomination to head the Office of Management and Budget, underscoring the difficulty President Biden’s pick...
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More Than 150 Top Business Leaders Back Biden's Covid Plan
As Democrats press ahead with plans to pass a $1.9 trillion Covid relief package by a process that would bypass the need for Republican support, more than 150 CEOs of large American companies are...
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Fed’s Powell Warns Recovery Has a Long Way to Go
By Michael RaineyAlthough Federal Reserve Chair Jerome Powell is a Republican and was appointed by former President Donald Trump, he is proving to be an important ally for Democrats as they push ahead on another...
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House Budget Committee Advances Biden’s $1.9 Trillion Relief Plan
The House Budget Committee voted Monday to advance a $1.9 trillion Covid relief package, setting up the massive legislation for a full floor vote later this week. The 19-16 committee vote saw one...
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Biden’s Pick for Budget Chief Runs Into More Opposition
The confirmation math just got even more complicated for President Biden’s pick to be his budget director. Sens. Susan Collins (R-ME) and Mitt Romney (R-UT) both said Monday that they will oppose...
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Yellen Defends Biden Stimulus Plan
By Michael RaineyCovid-19 is still driving the economy, Treasury Secretary Janet Yellen said Monday, and the federal government needs to spend what it takes to blunt the effects on the population while bringing the...
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Treasury Tweaks PPP Loan Rules to Focus on Smaller Businesses
By Michael RaineyThe Treasury Department said Monday that it will alter the rules for the Paycheck Protection Program to get more aid to small businesses. For a two-week period starting Wednesday, the program will...
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Biden to Commit $4 Billion to Global Covid Vaccine Fund
By Michael RaineyPresident Joe Biden announced Friday that the U.S. will soon release $2 billion in initial funding to Gavi, the Vaccine Alliance, a private-public partnership that combats disease in low-income...
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Manchin Says He'll Oppose Biden's Budget Nominee
By Michael Rainey and Yuval RosenbergSen. Joe Manchin (D-WV) said Friday that he will not support President Biden’s pick to lead the Office of Management and Budget, raising the risk that the nominee, Neera Tanden, will fail to win the...
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Next Step in Democrats’ Stimulus Sprint Comes Monday
The next phase of Democrats’ push to pass a $1.9 trillion Covid relief package is set to start on Monday, when the House Budget Committee is scheduled to mark up the legislation. The text of the...
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What Kind of Boost Would Biden’s Plan Provide for the Economy?
As President Biden pushes for his $1.9 trillion rescue package and the $1,400 payments it calls for, a new analysis by the Penn Wharton Budget Model estimates that the president’s full plan would...
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Biden Says $1,400 Checks a Promise He Won’t Break — but He’s Willing to Limit Who Gets Them
President Joe Biden told House Democrats Wednesday that he was open to further limiting eligibility for his proposed coronavirus payments, but that the size of the $1,400 payments was a campaign...
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US Treasury Slashes Borrowing Estimate
By Michael RaineyThe federal government spent less than expected at the end of 2020, so the U.S. Treasury earlier this week sharply reduced its estimates for borrowing in the first three months of 2021. The Treasury...
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Broad Support for Biden’s Covid Relief Agenda: Poll
By Michael RaineyA substantial majority of Americans supports President Biden’s proposal to provide $2,000 in relief payments to most adults, according to the results of a new poll from Yahoo News/YouGov. In a survey...
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Biden Urges Senate Dems to Go Big on Covid Relief
The White House called President Biden’s Monday meeting with 10 Republican senators who are proposing a smaller Covid relief bill “substantive and productive.” Sen. Susan Collins (R-ME), one of the...