Budget Battles
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The Tax Fight That Could Derail Biden’s Infrastructure Plan
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Republicans Prepare Counteroffer to Biden’s Infrastructure Plan
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Tax Cheats Cost the US $1 Trillion a Year, IRS Chief Says
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Deficit Hits Record $1.7 Trillion in First Half of Fiscal Year
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Biden Seeks Huge Spending Boost in First Budget
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Manchin Throws Another Wrench Into Biden Agenda
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Biden’s Plan to Raise $2.5 Trillion in Corporate Taxes
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A Quick Guide to ‘Bidenomics’
By Michael RaineyPresident Joe Biden is proposing an array of policies that mark a dramatic shift away from decades of conventional wisdom about economics and politics in the U.S., Greg Ip of The Wall Street Journal...
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John Oliver Asks How Worried We Should Be About the ‘Undeniably Big’ US Debt
HBO’s “Last Week Tonight with John Oliver” dedicated the bulk of Sunday night’s episode to an in-depth look at the $28 trillion national debt, which Oliver called “an absolute f--- ton of money.” "...
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What’s in Biden’s $2.3 Trillion Infrastructure Plan
President Biden on Wednesday unveiled a sweeping $2.3 trillion plan to rebuild and modernize America’s infrastructure, create millions of new jobs and strengthen the nation’s competitiveness,...
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Big Win for Biden: Congress Passes Historic Covid Relief Bill
The House passed President Joe Biden’s massive $1.9 trillion America Rescue Plan on Wednesday, giving final approval to a sweeping package that provides emergency pandemic aid and also authorizes a...
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Why Biden’s Win on Covid Relief Is a Big Deal
President Joe Biden’s $1.9 trillion Covid relief bill is on track to become law on Wednesday, and while you may be understandably most concerned about what it means for you — how big a “stimulus...
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What the Senate's Messy Covid Vote Means for the Rest of Biden’s Agenda
The Senate process in passing President Joe Biden’s $1.9 trillion Covid relief package highlighted just how powerful moderates in the chamber, especially Sen. Joe Manchin (D-WV), are now — and could...
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Democrats Near the Finish Line on Covid Relief Bill
Democrats have two steps left in passing their $1.9 trillion Covid relief bill and delivering President Joe Biden his first major legislative win — a historically large, deficit-financed package that...
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Tweet of the Day: What’s Missing From GOP Attacks on Biden Rescue Plan
Republicans have been slamming President Biden’s Covid rescue plan, arguing that it is more focused on advancing a longstanding liberal wishlist than on delivering real pandemic relief. GOP...
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2021 Deficit Projected at $2.3 Trillion Even Before Biden Stimulus: CBO
The U.S. budget deficit will total $2.3 trillion this fiscal year, down substantially from last year but still on track to be the second largest in the nation’s history, the Congressional Budget...
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Biden Rips Republicans on Covid Relief, Says He’s Ready to ‘Act Fast’
President Biden on Friday made a forceful case for his $1.9 trillion Covid rescue package, arguing in a speech to the nation that another weak monthly jobs report demonstrates that the economy...
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Why Big Deficits Are Here to Stay (for Now)
By Michael RaineyFrom billions in income supplements for households to trillions in guaranteed loans for businesses, fiscal policy has taken a central role in the government’s response to the Covid recession...
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Cost of Interest on National Debt Falls Despite Surging Deficit: CBO
By Michael RaineyThe federal government estimates that it has paid billions of dollars less in interest on the national debt in the 2020 fiscal year, despite an increase in the size of the national debt on an annual...
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Deficit Tops $3 Trillion in 2020: CBO
By Michael RaineyThe federal budget deficit rose to a record-breaking $3.1 trillion in fiscal year 2020, according to estimates released by the Congressional Budget Office Thursday. Even before the coronavirus crisis...
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Both Trump and Biden Plans Would Push Debt Higher: CRFB
By The Fiscal Times StaffEach set of proposals laid out in the campaigns of President Trump and former Vice President Joe Biden would increase the national debt by about $5 trillion over a decade, according to a new analysis...
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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...