Budget Battles
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Pelosi Says Help Is On the Way, but When?
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McConnell Warns Trump Against Pre-Election Stimulus Deal
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Pelosi Sets Deadline for Stimulus Deal
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US Deficit Soars to $3.1 Trillion
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McConnell Rejects Trump’s Call for Bigger Stimulus
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Mnuchin: Relief Bill Will Be ‘Difficult’ Before Election
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Trump Undermines McConnell on Stimulus Plan
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OxyContin Maker Pleads Guilty, Will Pay $8.3 Billion
By Michael RaineyPurdue Pharma has agreed to plead guilty to federal criminal charges for its role in creating the opioid crisis, the Justice Department announced Wednesday. The OxyContin maker will pay $8.3 billion...
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Trump’s Drug Discount Cards for Seniors Get Pushed Back
By Michael RaineyThe Trump administration plans to send $200 discount cards for prescription drugs to more than 30 million Medicare beneficiaries, but the White House is abandoning an effort to have them shipped out...
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Trump’s Farm Bailout Pumped $21 Billion Into GOP Counties
By Michael RaineyMore than 90% of the money disbursed by a program that compensates American farmers hurt by retaliatory tariffs during President Trump’s trade war with China was sent to counties that voted...
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Pelosi Says Help Is On the Way, but When?
Help is on the way, House Speaker Nancy Pelosi (D-CA) said in an interview with MSNBC on Wednesday, referring to the coronavirus relief package she’s been negotiating with the White House. But she...
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Two New Polls Find Trouble for Trump on the Economy
As the Trump administration and House Speaker Nancy Pelosi (D-CA) scramble to see if they can reach a roughly $2 trillion stimulus deal — while Senate Republicans look to vote on a smaller, $500...
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McConnell Warns White House Against Pre-Election Stimulus Deal: Report
By Michael RaineyHouse Speaker Nancy Pelosi (D-CA) said Tuesday that lawmakers are moving ahead with a draft of a new coronavirus stimulus bill, despite a lack of agreement on some key provisions. Yet even as Pelosi...
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Court Rejects Trump Effort to Cut Food Stamps
By The Fiscal Times StaffA federal judge on Sunday rejected a Trump administration plan to cut $5.5 billion from the Supplemental Nutrition Assistance Program over the next five years. The proposed rule change would allow...
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Stimulus Deal or No Deal? Pelosi Sets Tuesday Deadline
By Michael RaineyIt may not have a made-for-TV theme song, but Nancy Pelosi’s ultimatum does pack some dramatic punch: 48 hours or we’re done. House Speaker Pelosi (D-CA) said Sunday that a deal must be reached...
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2021 Stimulus Size Hinges on Senate More Than President: Goldman Sachs
The election contest between President Trump and former vice president Joe Biden has been called the most consequential of our lifetime — and more voters say the race matters to them than in decades...
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US Deficit Soars to $3.1 Trillion
By Michael RaineyThe federal budget deficit topped $3.1 trillion in the 2020 fiscal year, the U.S. Treasury announced Friday, marking the largest annual deficit in U.S. history. As a share of the economy, the deficit...
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‘Doomed to Fail’: Why a $4 Trillion Bailout May Not Be Enough
By Michael RaineyThe roughly $4 trillion spent in response to the coronavirus pandemic has become the costliest economic rescue effort in U.S. history, surpassing even the staggering cost of 18 years of war in...
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Job Growth Slows, Sparking New Worries About Economy
By Michael RaineyThe unemployment rate dropped to 7.9% in September, the Labor Department announced Friday, as total nonfarm payroll employment rose by 661,000 during the month. But what under normal circumstances...
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Pelosi: Trump’s Diagnosis Could Speed Stimulus Bill
House Speaker Nancy Pelosi (D-CA) suggested Friday that Trump’s diagnosis could help negotiators reach agreement on another coronavirus relief package. “This kind of changes the dynamic because here...
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Hopes Fade for Coronavirus Stimulus Package
By Michael RaineyHouse Speaker Nancy Pelosi (D-CA) and Treasury Secretary Steven Mnuchin spoke again Thursday as part of a last-ditch effort to reach an agreement on a coronavirus relief bill before Congress leaves...
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Senate Votes to Avert Shutdown
By The Fiscal Times StaffFacing a midnight deadline to avoid a government shutdown, the Senate on Wednesday evening passed a stopgap spending bill that will keep the lights on until December 11. The vote was 84-10. Passed by...