Budget Battles
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Trump Promises More Bailout Cash for Farmers
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Elizabeth Warren Won the Debate. Will It Matter?
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How Medicare for All Is Tearing Democrats Apart
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Mike Bloomberg's Plan to Boost Social Security
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Court Strikes Down Trump Admin’s Medicaid Work Rules
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Pete Buttigieg’s Deficit Talk Scares the Left
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Deficit Soars 25% Over First Four Months of Fiscal 2020
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Elizabeth Warren to Billionaire Sheldon Adelson: Here’s Your Wealth Tax Bill
By Michael RaineySen. Elizabeth Warren came out swinging against Michael Bloomberg in the Democratic debate Wednesday night, and then took aim at a different billionaire the next day. The Warren campaign ran a full-...
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Trump Economists Say GDP Growth Will Fall Short of 3%
By Michael RaineyPresident Trump and Republican lawmakers promised an economic boom in the wake of their tax cut package in 2017, but growth rates have remained below 3% annually – well below the 5% touted by the...
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In Search of the ‘Disappearing Corporate Income Tax’
By Michael RaineyLawmakers clashed on Tuesday over the performance of the 2017 Tax Cuts and Jobs Act in a House Ways and Means Committee hearing titled “The Disappearing Corporate Income Tax,” with Democrats arguing...
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Trump’s $4.8 Trillion Fiscal Fantasy
By Yuval Rosenberg and Michael RaineyThe Trump White House on Monday released a $4.8 trillion budget for 2021 that calls for steep reductions in spending on safety net programs including Medicaid while proposing greater outlays for the...
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What to Look For in Trump’s 2021 Budget: CBPP
By Michael RaineyPresident Trump’s agenda for a possible second term is still on the drawing board, according to The Wall Street Journal’s Andrew Restucci, and aides are reportedly in the early stages of drafting...
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5 Whoppers From Trump’s State of the Union Address
By Michael RaineyPresident Trump delivered a polarizing, reality-show tinged State of the Union address Tuesday in which he claimed credit for three years of solid economic growth while making more than 30 “dubious...
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Fiscal Policy Still Boosting the Economy, but Not For Long
By Michael RaineyTax and spending policies at the local, state and federal level boosted economic growth in the fourth quarter of 2019, according to the newly updated Hutchins Center Fiscal Impact Measure from the...
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The American Dream Alive and Well in ... Finland?
By Michael RaineyBernie Sanders’s opponents routinely accuse him of being a “socialist” bent on importing nefarious foreign values to the U.S., and President Trump took that approach one step further this past...
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Bloomberg Proposes $5 Trillion in Taxes on the Rich, Corporations
By Michael RaineyMichael Bloomberg released a tax plan Saturday that aims to raise $5 trillion from high-income households and corporations over 10 years to pay for new spending on education, infrastructure and...
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US Economy Misses Trump's 3% Growth Target
The U.S. economy grew at a 2.1% annual rate over the final three months of 2019, the Commerce Department estimated Tuesday. For the full year, gross domestic product grew by 2.3%, down from 2.9% in...
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![U.S. Treasury Secretary Steven Mnuchin testifies to the Senate Banking, Housing and Urban Affairs Committee in Washington](http://dcewboipbvgi2.cloudfront.net/sites/default/files/styles/thumbnail/public/reuters/usa-senate-mnuchin_1.jpg?itok=19inuaet "U.S. Treasury Secretary Steven Mnuchin testifies to the Senate Banking, Housing and Urban Affairs Committee on "The Financial Stability Oversight Council Annual Report to Congress" on Capitol Hill in Washington, U.S., January 30, 2018. REUTERS/Joshua Rob")
Holy $#!& Quote of the Day: Mnuchin’s Wild Tax Cut Claim
"I’ll stay on the record that I think tax cuts will pay for themselves." – Treasury Secretary Steve Mnuchin at the World Economic Forum at Davos, as reported by Heather Long of The Washington Post...
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Trump Says He’ll Soon Unveil a Middle-Class Tax Cut
In an interview with The Wall Street Journal , President Trump said Tuesday that his administration is working on a middle-class tax cut proposal that would take effect if he is re-elected and...
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Trump Tax Cuts Have Saved 6 Big Banks $32 Billion
The six biggest U.S. banks have saved $32 billion in taxes, including $18 billion last year, as a result of the 2017 Trump tax cuts, Yalman Onaran reports at Bloomberg News. The average effective tax...
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Three Fiscal Takeaways from the Democratic Presidential Debate
The Iowa caucuses are less than three weeks away and the top four Democratic presidential contenders are tightly bunched in state polling, so the stakes were high at Tuesday night’s primary debate,...
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4 Potential Reforms for the Capital Gains Tax
By The Fiscal Times StaffReforming the capital gains tax is one way to simultaneously address both rising inequality and growing federal deficits, say William G. Gale and Grace Enda of the Brookings Institution. The current...