Budget Battles
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GOP Turns to Delay Tactics to Stall Covid Relief Bill
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Biden Agrees to Limit Covid Relief Payments
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Dems Debate Smaller Unemployment Checks
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Now It's the Senate's Turn on Stimulus
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Democrats Scramble to Save $15 Minimum Wage
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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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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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US Treasury Slashes Borrowing Estimate
By Michael RaineyThe federal government spent less than expected at the end of 2020, so the U.S. Treasury earlier this week sharply reduced its estimates for borrowing in the first three months of 2021. The Treasury...
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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...
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The Battle Over Biden’s Big Stimulus Plan
President Biden’s flurry of first-week executive orders comes as his $1.9 trillion proposal for the next coronavirus relief package faces intense Republican opposition, including from moderates whose...
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Yellen Tells Congress It’s Time to ‘Act Big’ to Rescue the Economy
Incoming Treasury Secretary Janet Yellen on Tuesday urged Congress to “act big” and deliver more relief to the pandemic-ravaged economy. As she sought to build support for the $1.9 trillion rescue...
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Orszag, Rubin and Stiglitz Call for a New Fiscal Framework
The consensus on the dangers of rising debt has shifted dramatically over the last decade. Economists have been reexamining how best to spur recovery and encourage wider-spread prosperity as...
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Deficit Hits $572 Billion for First Three Months of Fiscal 2021: CBO
The federal budget deficit for the first quarter of fiscal year 2021 totaled $572 billion, up $215 billion from the same period a year earlier, the Congressional Budget Office estimated on Monday...
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2021 Deficit On Track to Total $2.3 Trillion: Budget Watchdog
The federal budget deficit for fiscal year 2021 is on track to total $2.3 trillion, or 10.4% of gross domestic product, lower than the record $3.1 trillion deficit last year but higher than any other...
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Why Coronavirus Relief Negotiations Will Be Much, Much Harder This Time
House Speaker Nancy Pelosi (D-CA) and Senate Minority Leader Chuck Schumer (D-NY) are set to meet with Treasury Secretary Steven Mnuchin and White House Chief of Staff Mark Meadows this evening to...
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What's in the GOP's New Coronavirus Relief Plan?
Congress is back in Washington this week and getting down to the difficult task of negotiating the next, and potentially final, coronavirus relief package. The parties are far apart, with House...
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Bernanke and Yellen Urge Congress to Extend Unemployment Benefits
Former Federal Reserve chairs Ben Bernanke and Janet Yellen urged lawmakers not to let enhanced unemployment benefits expire this month and to set aside deficit concerns for now to deliver the...
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Deficit Soared to $863 Billion in June, Nearly Matching 2019 Total: CBO
The federal budget deficit in June totaled $863 billion, the Congressional Budget Office estimated this week. That’s up from $8 billion in the same month last year and nearly matches the fiscal gap...
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Trump Admin, Republicans Eye Narrower Coronavirus Relief Package
As Congress prepares to put together a new coronavirus relief bill, the Trump administration and congressional Republicans are looking to deliver aid more narrowly and limit the overall cost of the...