Budget Battles
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Senators Float $908 Billion Stimulus Compromise
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What Biden’s New Economic Team Says About His Agenda
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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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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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GOP Delays Rollout of Coronavirus Stimulus Plan; Trump Dumps Push for Payroll Tax Cut
The White House and Senate Republicans failed to reach final agreement Thursday on their proposal for a coronavirus relief package, forcing them to delay a planned rollout of the legislation even...
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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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Schumer Pushes for Elimination of SALT Deduction Cap
Senate Minority Leader Chuck Schumer (D-NY) on Tuesday called on Republicans to eliminate the cap on deductibility of state and local taxes (SALT) as part of the next coronavirus relief package. The...
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Millionaires Say: Tax Us More to Pay for Pandemic
By Michael RaineyDozens of wealthy individuals calling themselves Millionaires for Humanity are asking the Trump administration and other Western governments to raise taxes on the rich in order to fund recovery...
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IRS Budget Boost Would More Than Pay for Itself, CBO Says
Boosting the Internal Revenue Service’s budget for audits and collections would pay for itself as much as three times over, the Congressional Budget Office estimated in a report released Wednesday...