House Speaker Kevin McCarthy and his top allies have reversed course and changed their bill for raising the nation’s borrowing limit – and agreed to make two major changes overnight in a bid to pass the package Wednesday in their standoff with the White House. It’s not clear if even those changes will yield enough […]
Tag: budget
Will billionaires be able to solve America’s budget problem?
The proposal aims to capture more of the wealth created by the soaring stock market of the last few years. It targets the roughly 20,000 taxpayers in the US worth more than $100m. Investor Warren Buffett, Tesla boss Elon Musk and Amazon founder Jeff Bezos would be among those affected. Under the proposal, America’s 0.01% […]
Largest tax hike in history being pitched by Biden
President Biden made a renewed push on Monday to galvanize congressional Democrats to overhaul the nation’s tax code and dramatically raise rates on corporations and ultra-wealthy Americans. The president laid out the tax hikes as part of his $5.8 trillion budget blueprint for federal spending in fiscal 2023, which begins in October. Under his proposal, […]
Senate passes sweeping bipartisan bill overhauling the US Postal Service
The Senate on Tuesday passed sweeping bipartisan legislation to overhaul the US Postal Service’s finances and allow the agency to modernize its operations.The final vote was overwhelmingly bipartisan 79-19. The bill now heads to President Joe Biden’s desk for his signature.The Postal Service Reform Act — which cleared the House last month by 342-92 — […]
New Budget Does Not Gut Meals On Wheels
Meals on Wheels, the popular nationwide program that provides hot meals to needy seniors, has become a rallying point for critics of President Trump’s proposed budget, which slashes spending on social initiatives to beef up military spending. But on Sunday, the Trump administration answered an emphatic “no” to the question of whether the budget would […]
Trump Budget Nominee Supports Cutting Medicare, Social Security
President Donald Trump’s nominee to become the nation’s budget director, Rep. Mick Mulvaney , R-S.C., defended Tuesday his support of cuts to popular entitlement programs that Trump vowed to keep intact and emphasized that he would bring a “fact-based approach” to the role. In appearances before the Senate budget and homeland security committees, Mulvaney acknowledged […]