Government spending is identified as the cause. The Treasury Department reported America’s gross national debt has eclipsed $31 trillion for the first time, a financial milestone arriving just…
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President Signs Inflation Reduction Act
Bill addresses taxes, healthcare, and climate On Tuesday, President Joe Biden signed the Inflation Reduction Act into law, one he said he had waited 18 months to sign. The…
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CBO Concerned About Increasing Deficit
Presidential executive actions are contributing to the problem. A letter from the Congressional Budget Office (CBO) in response to an inquiry by a congressman from Missouri confirms that…
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CBO Report Says Taxes Will Rise Higher
Highest for individuals since 1913. The nonpartisan Congressional Budget Office (CBO) has released its budget and economic outlook for 2022 and it shows that federal taxes are rising…
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Individual Income Taxes Surge
Will go higher as previous administration’s tax cuts expire. Americans are now paying the most in individual income taxes ever. According to a new budget analysis presented to…
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CBO Scores Build Back Better Program
They project $5 billion total price tag. Both the House and Senate are in session this week and looking to finalize the Build Back Better proposal before the…
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House Passes Build Back Better Act
$2 trillion measure faces hurdles in the Senate. On Friday, the House of Representatives passed President Biden’s $1.85 trillion Build Back Better Act, sending the measure to the…
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House Plans Friday Vote on Build Back Better Bill
CBO analysis of legislation’s costs due Friday. House Majority Leader Steny Hoyer said that the chamber’s leadership plans to hold a vote on final passage of President Biden’s…
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Infrastructure Bill Sent to President’s Desk
President Biden said he will sign it “soon.” In a 228-206 vote late Friday, the House voted to pass the $1.2 trillion infrastructure bill that pours billions of…
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Speaker Says Congress Has Options on Debt Ceiling
Treasury Secretary says not raising the ceiling would be “catastrophic.” As members of Congress return from its Labor Day recess, they must address raising or suspending the debt…
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