Budget Battles
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The US Is About to Get a New Top Tax Break
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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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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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Biden Urges Congress to Move Quickly on Covid Relief, Won’t Rule Out Acting Without GOP
By Michael RaineySaying the economy is in dire need of more support, President Biden on Friday urged lawmakers to move quickly to approve his $1.9 trillion Covid relief bill. “We have to act now,” Biden told...
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Pelosi: Dems Will Press Ahead on Covid Relief, With or Without GOP
Democrats are pressing ahead with preparations to pass a coronavirus relief plan without Republican support. Speaker Nancy Pelosi (D-CA) said Thursday that the House will pass a budget resolution...
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Covid Delivers Worst Year for Economy Since 1946
By Michael RaineyThe U.S. economy was 3.5% smaller at the end of December than it was at the start of the year, the Commerce Department announced Thursday, making 2020 the worst year for growth since 1946, when the...
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Feds Misused Millions of Dollars Intended for Vaccine Research, Public Health: Report
Officials at the Department of Health and Human Services misused millions of dollars provided by lawmakers to fund vaccine research and preparedness efforts for public health threats like Ebola and...
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Investors Tell Washington: Don’t Worry About the Debt
With a growing number of lawmakers expressing concerns about another massive, deficit-financed Covid relief package and the historically large national debt, Politico’s Victoria Guida reports that...