Budget Battles
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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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Biden Warns 'More People May Die' if Trump Refuses to Coordinate
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A New Tax on Stay-at-Home Workers?
By The Fiscal Times StaffA report funded by Deutsche Bank that examines the economic recovery from the pandemic suggests that people working at home should be taxed for the privilege of doing so, in order to pay for aid to...
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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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Joe Biden’s Economy Czar
By Michael RaineyJoe Biden has a vast team of advisers working on plans to boost the economy in the event that the former vice president wins the presidential election. While some are big names who served in the...
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No Pre-Election Details on Trump’s Promised Tax Cuts
By Michael RaineyAdd President Trump’s second term tax plan to the long list of items that he will release at some point in the future. White House economic adviser Larry Kudlow said Monday that while administration...
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A Bad Time for Biden’s Tax Hikes? Why Joe Says No
When he’s not slinging dubious accusations of corruption, attacking Joe Biden’s son, Hunter, or propagating conspiracy theories, President Trump has frequently been hitting the former vice president...
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Biden Tax Plan Would Raise $2.4 Trillion Over a Decade: TPC
By Michael RaineyUpdating its analysis of Joe Biden’s tax proposals, the centrist Tax Policy Center said Thursday that the former vice president’s plans would generate about $2.4 trillion over 10 years. The new...
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Tax Rates Crushing Some Low-Wage Workers: Fed Study
By Michael RaineyLow-wage workers face shockingly high marginal tax rates as they earn more once the loss of government benefits are taken into account, according to researchers at the Federal Reserve Bank of Atlanta...
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Biden’s Tax Plan Would Raise Trillions, With Little Effect on Growth: AEI
By Michael RaineyA newly updated analysis from the conservative American Enterprise Institute finds that Joe Biden’s tax plan would raise roughly $2.8 trillion over 10 years, while reducing economic growth by a...
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Trump Teases Another Massive Tax Cut
President Trump just left the Walter Reed Medical Center to return to the White House — a decision that’s astonishing outside experts and raising additional questions about his condition, his care...
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Trump’s Tax Cuts Didn’t Boost Job Numbers
By Michael RaineyThe job market was remarkably strong before the coronavirus pandemic hit earlier this year, with the unemployment rate falling to a 50-year low. Even so, President Trump’s promise to be the “greatest...
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Biden’s Secretive Economic Brain Trust
Joe Biden’s economic brain trust is shrouded in secrecy, write Jim Tankersley and Thomas Kaplan at The New York Times: “Some broad contours have become clear. Mr. Biden plays down concerns about the...
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Trump and Biden Agree: Don’t Defund the Police
As “defund the police” has become a rallying cry for protestors, with activists and some politicians looking to build on a wave of support for the movement, President Trump has in recent days...
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May Deficit Falls From April Record, Still Second Highest Ever
By Michael RaineyThe Congressional Budget Office said the federal budget deficit was $424 billion in May, well below the $738 billion recorded in April – but still the second-highest monthly shortfall in history. The...
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Chart of the Day: The Dire State of State Tax Revenues
Lucy Dadayan of the Urban-Brookings Tax Policy Center breaks down the good, the bad and the ugly of the fiscal crisis facing states as the coronavirus pandemic crushes revenues and raises costs. “...
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IRS Letting High-Income Tax Cheats Dodge Billions in Payments: Watchdog
The Internal Revenue Service is failing to crack down on hundreds of thousands of high-income people who owe billions of dollars in taxes, according to a new report by the agency’s government...