Budget Battles
-
Trump's Legacy: $7.8 Trillion Rise in Debt
-
Biden Unveils $1.9 Trillion ‘American Rescue Plan’
-
Trump Impeached Again: What's Next?
-
America’s Infrastructure Gap Will Hit $5.6 Trillion: Report
-
Trump Impeachment Could Delay Biden Stimulus
-
Biden Calls for Trillions More in Covid Relief
-
Dems Pledge $2,000 Checks as Biden Agenda Gets a Boost
-
Taxpayer Advocate: The IRS Needs More Funding
By Michael RaineyNational Taxpayer Advocate Erin Collins released her annual report to Congress Wednesday, and it came with a blunt message: Years of funding cuts have made it difficult for the nation’s tax and...
-
Democrats Plan a Major End Run Around the GOP
By Michael RaineyYou’ll probably be hearing a lot about “budget reconciliation” in the coming weeks, as Democrats work to pass a substantial spending package in the early days of the Biden administration. The term...
-
Biden’s Agenda Gets a Boost With Democratic Control in Washington
By Michael RaineyThe Democratic sweep of the runoff Senate elections in Georgia may not have gotten as much coverage as the storming of the Capitol by a pro-Trump mob Wednesday, but the results will have a powerful...
-
Reviving the Pandemic Economy
By Michael RaineyWith the U.S. economy headed for another slowdown as the coronavirus surges to record levels, The New York Times gathered a group of experts “to debate the priorities for economic policy in the...
-
State and Local Tax Revenues Better Than Expected
By Michael RaineyMany economists worried that local tax revenues would fall sharply in the wake of the coronavirus pandemic, creating a long-lasting drag on the economy as payrolls shrank and public investment...
-
Most Americans Support Higher Tax on High Earners: Poll
By Michael RaineyAbout two-thirds of Americans support President-elect Joe Biden’s proposal to raise taxes on households earning more than $400,000 a year while keeping taxes on those below that level the same,...
-
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...
-
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...
-
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...
-
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...
-
Coronavirus Relief Bill Has a Special Treat for Some Wealthy Taxpayers
By Michael RaineyThe roughly $2 trillion coronavirus relief package signed into law last month includes a provision that will cut the tax bills for some Americans who make more than $1 million a year, according to a...
-
The Scramble Is On to Send Millions of Coronavirus Checks
Congress last week approved legislation to send millions of Americans coronavirus relief payments and Treasury Secretary Steven Mnuchin said Sunday that the money would start arriving “within three...
-
Pelosi Floats Stimulus Idea That Would Benefit High Earners
House Speaker Nancy Pelosi has floated another suggestion for the next round of fiscal stimulus: A retroactive rollback of the 2017 Republican tax law’s limit on state and local tax deductions. In an...
-
Answers to Your Questions About the Coronavirus Direct Payments
By Michael RaineyMillions of Americans — and many of our readers — are wondering what kind of check they’ll be getting from the Treasury as part of the emergency aid package that is expected to become law as soon as...
-
Breaking Down the Costs of the $2 Trillion Coronavirus Rescue Package
The nearly 900-page coronavirus relief package passed by the Senate late Wednesday night includes some $2.3 trillion in costs , according to the The Committee for a Responsible Federal Budget, though...