Budget Battles
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Decision Day Looms for the Fed
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‘Five-Alarm Fire’: White House Slams GOP Budget Proposal
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GOP Senators Take Aim at Biden’s Student Loan Forgiveness Plan
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Yellen Trashes GOP Plan to Prioritize Debt Payments
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GOP Budget Goal Would Require ‘Massive’ Cuts
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Warning Signs in New Inflation Report
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Will the Fed Slam on the Brakes After Bank Failures?
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‘Five-Alarm Fire’: White House Slams GOP Budget Proposal
The White House on Monday launched what it says will be a week-long offensive slamming Republicans over what it calls a “draconian” budget plan proposed by the right-wing House Freedom Caucus. House...
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Health Care Spending Growth Continues to Slow, CBO Says
By Michael RaineyThe Congressional Budget Office says the projections it made soon after the passage of the Affordable Care Act overestimated the level of federal mandatory spending on health care for the period 2010...
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GOP Senators Take Aim at Biden’s Student Loan Forgiveness Plan
By Michael RaineyWith the fate of President Joe Biden’s plan to forgive billions of dollars in student loan debt now in the hands of the Supreme Court, some Republican lawmakers want to ensure that the program never...
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Taxpayer Advocate Says $80 Billion IRS Funding Boost Strikes Wrong Balance
The National Taxpayer Advocate on Thursday weighed in on the controversial $80 billion, 10-year funding boost provided to the Internal Revenue Service by Democrats last year, writing that the money...
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Yellen Trashes GOP Plan to Prioritize Debt Payments
By Michael RaineyAppearing before the Senate Finance Committee Thursday, Treasury Secretary Janet Yellen said in no uncertain terms that she does not think a Republican proposal for the U.S. to prioritize its debt...
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CBO Analysis Highlights Difficulty of GOP’s Balanced Budget Goal
By Michael RaineyAlthough they are united in their opposition to President Joe Biden’s budget proposal for fiscal year 2024, House Republicans have yet to release their own version of next year’s budget. The timeline...
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Republicans Push for Tighter Work Requirements for Food Stamps
By Michael RaineyA group of Republicans in the House plan to release a bill Tuesday that would make it harder for some adults to claim benefits from the Supplemental Nutrition Assistance Program, commonly known as...
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House Freedom Caucus Issues Demands in Debt Limit Fight
Members of the far-right House Freedom Caucus on Friday demanded steep spending cuts and a rollback of major portions of President Joe Biden’s agenda and insisted that their conditions be met before...
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Biden’s $6.9 Trillion Budget Sets Up Battle With Republicans
By Michael Rainey and Yuval RosenbergPresident Joe Biden unveiled a $6.9 trillion budget proposal for fiscal year 2024 on Thursday, proposing to increase federal spending and raise taxes on the rich and corporations. The plan, which is...
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Biden to Propose Nearly $3 Trillion in Deficit Cuts
President Joe Biden’s budget plan due to be released on Thursday reportedly proposes to cut deficits by nearly $3 trillion over the next 10 years — more than the $2 trillion the president promised in...
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Biden Wants $1.6 Billion to Combat Covid Aid Fraud
By Michael RaineyIn its upcoming budget request for 2024, the Biden administration plans to ask Congress to provide $1.6 billion to clean up the massive fraud in Covid aid programs and to help prevent similar...
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Emergency Food Aid Program Ends, Cutting Benefits for 16 Million Households
By Michael RaineyCongress gave the Supplemental Nutrition Assistance Program a big boost during the Covid-19 pandemic, helping millions of households avoid hunger and food shortages over the past three years. But as...
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How the US Blew $90 Billion in Afghanistan
By Michael RaineyA new in-depth report from the Special Inspector General for Afghanistan Reconstruction examines the collapse of the Afghan security forces in August 2021 – a collapse that occurred despite the...
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Conservative Justices Skeptical of Biden’s Student Debt Relief Plan
By Michael RaineyThe Supreme Court on Tuesday heard arguments about President Joe Biden’s plan to forgive more than $400 billion of student debt over 30 years, and by most accounts, it didn’t go well for the...
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Biden Says Republicans Are Coming for Medicaid and Obamacare, Too
President Joe Biden continued his attacks on Republicans Tuesday, warning in a speech from Virginia Beach, Virginia, that some in the GOP would raise health care costs, cut vital programs like...