Budget Battles
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150 Top Business Leaders Back Biden's Covid Plan
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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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About That $1 Trillion in Unspent Covid Relief Money
By Michael RaineySome critics of President Biden’s $1.9 trillion relief bill charge that it is too generous, citing among other things the hundreds of billions of dollars that remain unspent from earlier relief...
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The Next Phase in the Stimulus Fight
The House is set to vote on Democrats’ $1.9 trillion Covid rescue plan on Friday, sending the package to the Senate, where it is expected to pass — likely with some revisions, and with zero...
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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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The Fed’s Monumental Change on How It Views Stimulus and Inflation
The hot economic debate of the moment is over the size of President Joe Biden’s pandemic relief plan and fears, raised by economists Larry Summers and Olivier Blanchard, that it might be so large as...
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Biden Rolls Back Medicaid Work Requirements
By Michael RaineyThe Biden administration on Friday afternoon revoked permission for states to impose work requirements on Medicaid beneficiaries. The move comes two weeks after President Joe Biden ordered federal...
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Chart of the Day: $10,269 in Covid Relief Per Person
By The Fiscal Times StaffThe U.S. has enacted about $3.4 trillion in Covid relief and stimulus over the last year, and Democrats are currently working to pass President Biden’s proposal to provide another $1.9 trillion. The...
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Biden Talks Infrastructure
By Michael RaineyPresident Biden met with key lawmakers and administration officials Thursday to discuss his goals for infrastructure and green energy. In comments ahead of the meeting, Biden said infrastructure...
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Poll of the Day: Just 20% Say Biden Relief Package Is Too Big
As lawmakers debate whether President Biden’s $1.9 trillion Covid relief package is the right size, a new CBS News poll finds that 39% of Americans say it is — and another 40% say it is not enough...