Financial analysts watching 2022 tax receipts closely. The Department of the Treasury released the daily financial statement for the annual tax filing deadline last week, showing a total…
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IRS Commissioner Presents 2024 Budget Proposal to Senate
He advocates for increases despite skepticism. Commissioner of the Internal Revenue Service (IRS) Danny Werfel testified before the Senate Finance Committee, presenting the proposed 2024 budget for the…
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House Speaker Unveils Debt Limit Proposal
Debt ceiling would go up, and discretionary spending would come down. House Speaker Kevin McCarthy of California revealed a plan to increase the debt limit and cut government…
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Speaker McCarthy Addresses New York Stock Exchange
He discussed the debt ceiling and spending cuts. Speaker of the House of Representatives Kevin McCarthy outlined his plan to cut federal spending and arrange for an increase…
Read MoreSpeaker Seeks Debt Ceiling Meeting with President
Speaker McCarthy hopes to limit government spending. In a letter sent Tuesday to President Biden, House Speaker Kevin McCarthy of California asked for a round of talks to…
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House Speaker Responds to President’s Proposed Budget
White House appears ready to negotiate. President Biden has submitted his budget to Congress. The $6.8 trillion budget addresses four main areas—deficit reduction, lower costs for families, Medicare…
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CBO Director Calls for Cutting Deficit Spending in Half
Debt could stabilize in 10 years. Congressional Budget Office Director Phillip Swagel said that reducing deficit spending by 50 percent, as measured as a percentage of the country’s…
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President’s Budget Includes Tax Increases
Increases focus on the wealthy and big corporations. President Biden promised a budget that would accomplish many things during his State of the Union address last month, including…
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Senate Minority Leader Supports Increased Defense Spending
He responds to some members of Congress suggesting that cuts be made. Senator Mitch McConnell, the chamber’s minority leader, said that there ought to be increases in America’s…
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Nation’s Household Debt at $16.9 Trillion
Greatest increase in two decades hits record. A new report from the Federal Reserve reveals that U.S. household debt has risen to a record $16.9 trillion in the…
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