Budget Battles
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Bezos vs. Biden on Taxes and Inflation
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White House Prepares to Ration Covid Vaccines: Report
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Rand Paul Blocks $40B Ukraine Aid Bill
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A Ray of Hope on Inflation?
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Trump’s ‘Temporary’ Tax Rules May Stick Around
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Congress Boosts Ukraine Aid to $40 Billion as Dems Delink Covid Money
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The Strongest Jobs Streak Since 1939
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Biden Says Inflation Is Top Priority, Slams ‘Ultra-MAGA’ GOP
President Joe Biden on Tuesday called inflation “the number one challenge facing families today” and said that addressing rising prices is at the top of his domestic agenda. “I know that families all...
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Dems Look to Score Points Using Rick Scott’s Agenda for the GOP
Back in February, Florida Republican Sen. Rick Scott released a 11-point policy agenda for the GOP that stirred some controversy by, among other things, calling for all Americans to have some “skin...
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Is It Time to Raise the Social Security Tax Wage Cap?
By Michael RaineyAmericans earning $1 million hit a milestone today: After February 23, anyone with an annual income at or above that level has hit the payroll tax cap and paid all of their Social Security taxes for...
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Social Security Benefits Will See Biggest Boost in Nearly 40 Years
By Michael RaineySocial Security benefits will increase by 5.9% in 2022, the largest increase since 1982, the Social Security Administration announced Wednesday. “This would be the highest COLA that most...
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Social Security Trust Fund to Run Out by 2034, Report Says
Social Security won’t be able to pay full benefits by 2034, one year earlier than projected last year, unless Congress acts to address the program’s finances, according the annual report released...
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Why Biden Fired the Head of the Social Security Administration
President Joe Biden on Friday fired Social Security Administration Commissioner Andrew Saul, a Trump appointee who had drawn criticism from Democrats and advocacy groups for seeking to restrict...
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Social Security Less Damaged by Covid Recession Than Experts Feared
By Michael RaineyAs the Covid crisis took hold in early 2020, budget experts worried that rapidly disappearing jobs and plummeting tax receipts would put a serious dent in Social Security’s finances. But according to...
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What Trump and Biden Would Mean for Social Security
After years of warnings about the financial challenges facing Social Security, the coronavirus pandemic and its economic effects mean that the time to get serious about ensuring that full benefits...
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Trump’s Payroll Tax Plan Fizzles
President Trump’s payroll tax deferral plan is fizzling. The plan , meant to boost workers’ incomes by allowing their employers to postpone collection of the 6.2% employee share of the tax funding...
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Social Security Trust Fund Depleted by 2031: CBO
By Michael RaineyThe Social Security Old Age and Survivors Insurance fund will be depleted by 2031, according to a report released Wednesday by the Congressional Budget Office. The CBO said the surplus in the fund,...
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Bipartisan Group of Lawmakers Wants Next Coronavirus Bill to Address Rising Debt
Congress is likely to pass another coronavirus relief bill at some point, but doing so may require addressing the mounting deficit concerns of a bipartisan group of lawmakers. A group of 60 House...
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A Look at America’s ‘Broken Retirement System’
By Michael RaineyMillions of baby boomers are discovering that getting older isn’t getting any easier, thanks in part to a retirement system that fails to deliver security for millions of Americans. “Every day, 10,...
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How the Coronavirus Could Damage Social Security
By Michael RaineyThe trustees for Social Security say the program’s long-term outlook for hasn’t changed much in the last year – but that’s ignoring any potential negative effects from the coronavirus. The latest...
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Biden, Sanders Clash Again Over Social Security
The most heated moments in Sunday night’s Democratic presidential primary debate came during an exchange between Joe Biden and Bernie Sanders over Social Security. For months now, Sanders has slammed...
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Trump’s Coronavirus Tax Cut Falls Flat on Capitol Hill
President Trump promised Monday evening that his administration would quickly announce “very major,” very “substantial” and “dramatic” steps to boost the economy in the face of the coronavirus threat...