WASHINGTON — Senate Minority Leader Mitch McConnell has warned Treasury Secretary Janet Yellen he is not budging on his demand that Democrats go it alone on the federal debt limit, deepening the emerging standoff in Congress over how to boost […]
WASHINGTON — One side is energized by the prospect of the greatest expansion of government support since the New Deal nearly a century ago. The other is fearful about dramatically expanding Washington’s reach at an enormous cost. They’re all Democrats. […]
WASHINGTON — House Democrats unveiled a sweeping proposal Monday for tax hikes on big corporations and the wealthy to fund President Joe Biden’s $3.5 trillion rebuilding plan, as Congress speeds ahead to shape the far-reaching package that touches almost all aspects […]
WASHINGTON — House Speaker Nancy Pelosi faced a fresh hurdle Friday to passing President Joe Biden’s multi-trillion dollar domestic policy aspirations, as nine moderate Democrats threatened to derail a budget blueprint crucial to opening the door to much of that […]
WASHINGTON — Congressional negotiators and the White House appear open to striking a roughly $1 trillion deal on infrastructure. But they are struggling with the hard part — how to pay for it. As President Joe Biden jumps back into […]
President Joe Biden is trying to break a logjam with Republicans on how to pay for infrastructure improvements, proposing a 15% minimum tax on corporations and the possibility of revenues from increased IRS enforcement as a possible compromise. The offer […]
WASHINGTON — President Joe Biden on Friday unveiled a $6 trillion budget for next year that’s piled high with new safety net programs for the poor and middle class, but his generosity depends on taxing corporations and the wealthy to […]
WASHINGTON — President Joe Biden’s $6 trillion budget proposal for next year would run a $1.8 trillion federal government deficit despite a raft of new tax increases on corporations and high-income people designed to pay for his ambitious spending plans. […]
The Treasury Department on Monday launched its $350 billion program to distribute aid to state and local governments, giving the U.S. economy an added boost after relatively modest hiring in April. The aid is part of President Joe Biden’s larger […]
WASHINGTON — The Senate early Friday took a key step toward fast-track passage of President Joe Biden’s $1.9 trillion coronavirus relief plan without support from Republicans. Vice President Kamala Harris was in the chair to cast the tie-breaking vote, her […]
WILMINGTON, Del. — President-elect Joe Biden has unveiled a $1.9 trillion coronavirus plan to end “a crisis of deep human suffering” by speeding up vaccines and pumping out financial help to those struggling with the pandemic’s prolonged economic fallout. Called […]
WASHINGTON — Top Capitol Hill negotiators sealed a deal Sunday on an almost $1 trillion COVID-19 economic relief package, finally delivering long-overdue help to businesses and individuals and providing money to deliver vaccines to a nation eager for them. The […]
WASHINGTON — Congress passed a two-day stopgap spending bill Friday night, averting a partial government shutdown and buying yet more time for frustratingly slow endgame negotiations on an almost $1 trillion COVID-19 economic relief package. The virus aid talks remained […]
WASHINGTON — Bearing down on a midnight shutdown deadline, top negotiators on a must-pass, almost $1 trillion COVID-19 economic relief package are committed to sealing an agreement Friday as they resolve remaining differences in hopes of passing the legislation this […]
WASHINGTON — The U.S. is starting the 2021 budget year the way the old year ended, with soaring deficits. The Treasury Department reported Thursday that the federal government ran up a record October deficit of $284.1 billion, double the red […]
WASHINGTON — The U.S. budget deficit hit an all-time high of $3 trillion for the first 11 months of this budget year, the Treasury Department said Friday. The ocean of red ink is a product of the government’s massive spending […]
SILVER SPRING, Md. — The U.S. budget deficit climbed to $2.81 trillion in the first 10 months of the budget year, exceeding any on record, the Treasury Department said Wednesday. The nation’s budgetary shortfall is expected to eventually reach levels […]
WASHINGTON — The U.S. budget deficit through the first four months of this budget year is up 19% from the same period a year ago, putting the country on track to record its first $1 trillion deficit since 2012. The […]
WASHINGTON — The Democratic-controlled House is voting Tuesday on a $1.4 trillion government-wide spending package with an unusually large load of unrelated provisions on the must-do legislation. The package, some 2,313 pages long, was unveiled Monday as lawmakers prepared to […]
WASHINGTON — The bipartisan budget deal announced in Congress protects access to health care under the Affordable Care Act but it also ditches one of that law’s main cost controls. The deal would repeal a cost-control measure in “Obamacare” known […]
WASHINGTON — Senior lawmakers announced a tentative agreement Thursday on an almost $1.4 trillion government-wide spending bill that would stave off a federal shutdown next weekend and split the differences on a number of contentious issues. The handshake agreement was […]
WASHINGTON — The U.S. budget deficit rose by 2% last month to $209 billion, another step in a journey back toward $1 trillion-a-year budget shortfalls. The Treasury Department reported Wednesday that the federal government took in $225 billion in tax […]
WASHINGTON — The federal deficit for the 2019 budget year surged to $984.4 billion, its highest point in seven years, and is widely expected to top the $1 trillion mark in coming years. The 26% surge from the 2018 deficit […]
WASHINGTON — The House passed a short-term bill Thursday to prevent a federal shutdown when the budget year ends Sept. 30, and give lawmakers until the Thanksgiving break to negotiate and approve $1.4 trillion for federal agencies. The Senate is […]
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