Budget Battles
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What Biden’s New Economic Team Says About His Agenda
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What Biden’s Pick of Yellen Means for the Economy and Stimulus
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Trump Threatens Veto of Defense Bill
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Virus Surge Could Wallop the Economy Again
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Mnuchin Pulls Plug on Emergency Covid-Relief Programs
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250,000 Dead. Where Are Trump, Pelosi and McConnell?
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Top CEOs Call for Covid Relief, Mask Mandate
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Long Agenda, Little Time in Washington
By Michael RaineyLame-duck lawmakers returned to Washington this week with some major issues on their plate but just a few legislative days left to address them. Most pressingly, a short-term agreement to fund the...
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What Biden’s New Economic Team Signals About His Agenda
President-elect Joe Biden on Monday announced his picks for top members of his economic team, with choices that signal a strong focus on providing relief for a Covid-stricken economy and help for the...
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What Biden’s Pick of Yellen for Treasury Means for the Economy and Stimulus
Janet Yellen has had a long and distinguished career as an economist, from the halls of academia to the White House to the Federal Reserve. Her next job, as Neil Irwin suggests at The Upshot , may be...
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Trump Threatens to Veto Defense Bill
By Michael RaineyDespite reports last week that the White House was looking to make a deal on the issue, President Donald Trump is threatening to veto the National Defense Authorization Act if it includes a provision...
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Most Americans Say the Country Needs More Covid Aid
By Michael RaineyA substantial majority of Americans think more Covid-19 aid from the federal government is needed, according to new poll data from Pew Research. In a survey of U.S. adults conducted from November 12...
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Biden Backs Pelosi on Massive Stimulus Bill as Former Treasury Heads Call for More Aid
By Michael RaineyJoe Biden is backing House Democrats in their effort to negotiate a multi-trillion-dollar coronavirus relief bill, according to a Biden representative Monday. “The President-elect fully supports the...
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Mnuchin Defends Decision to End Emergency Lending Programs
By Michael RaineyTreasury Secretary Steven Mnuchin on Friday defended his decision to terminate more than $450 billion worth of emergency lending programs that extended credit to businesses and local governments amid...
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Virus Surge Could Wallop the Economy Again
By Michael RaineyAnalysts at JPMorgan Chase are predicting an economic contraction in the first quarter of 2021, driven by the fall surge of Covid-19 and new restrictions on businesses imposed by state and local...
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Op-Ed of the Day: The Case for Bailing Out Cities and States
Richard Ravitch helped save New York City from bankruptcy in the 1970s. He says there’s plenty of reason to now bail out cities and states facing financial crises as a result of the coronavirus...
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Mnuchin Asks Fed to Return $455 Billion in Unspent Covid-Relief Funds
Treasury Secretary Steven Mnuchin on Thursday asked the Federal Reserve to allow a number of its emergency lending programs to expire as scheduled at the end of the year and return hundreds of...
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McConnell Will Have Major Leverage Over a Biden Administration
Votes are still being counted and the winner of the presidential race remains uncertain, but the election results are shaping up to give Senate Majority Leader Mitch McConnell significant leverage...
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Election Results Signal Less Stimulus, More Gridlock
By Michael RaineyAlthough the final numbers aren’t in yet, it looks like the 2020 election will deliver a divided Congress to whichever party claims the White House. Democratic hopes for a “blue wave” fell by the...
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Views of Deficit Depend on Framing: Analysis
By Michael RaineyA progressive group aligned with the Democratic Party released a report this week that explores Americans’ attitudes toward the budget deficit and the national debt. Analysts at Data for Progress...
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Post-Election Gridlock Could Scar the Economy
Even after the election, the nation could face a prolonged stretch of political gridlock that further delays another coronavirus relief package even as the economy faces additional pain. The...
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Pelosi’s Plan to Pass a Coronavirus Relief Bill — and More
By Michael RaineyHouse Speaker Nancy Pelosi (D-CA) said Monday that Democrats may seek to use budget reconciliation to provide more funds for coronavirus relief and economic stimulus, as well as to enhance Obamacare...