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Federal budget

Biden faces economic obstacles beyond the pandemic's burdens

by David Brancaccio , Erika Soderstrom and Daniel Shin
Dec 29, 2020
The list includes dwindling trust funds for Social Security and Medicare and potential bubbles in the housing and stock markets.
Biden will confront "headwinds unlike those that have ever been faced by any modern president," says Eugene Steuerle of the Urban-Brookings Tax Policy Center.
Mark Makela/Getty Images
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DOJ designates New York, Portland, Seattle as “anarchist jurisdictions”

by Samantha Fields
Sep 22, 2020
The Trump administration is threatening to pull federal funding from the cities, which it says “have refused to undertake reasonable measures to counteract criminal activities.”
There have been more than 100 days of protests in Portland, Oregon, over systemic racism and police brutality.
Allison Dinner / AFP via Getty Images
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A short-staffed IRS is trying to reform

by Nancy Marshall-Genzer
Mar 3, 2020
The IRS is trying to modernize its computer systems and improve customer service — with a smaller budget and workforce.
The Internal Revenue Service Building in 2008.
Shashi Bellamkonda
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Elections 2020

A president's budget can signal campaign priorities in an election year

by Meghan McCarty Carino
Feb 10, 2020
Budgets offer a chance to project good times and appeal to certain constituencies.
President Donald Trump speaks during a rally in Orlando, Florida, to officially launch his 2020 campaign on June 18, 2019.
Mandel Ngan/AFP via Getty Images
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The GOP lost the budget fight ... again

by Kai Ryssdal , Andie Corban and Sean McHenry
Jul 24, 2019
John Harwood of CNBC explains why Republicans "support spending cuts in theory" but have a hard time getting there in practice.
Treasury Secretary Steven Mnuchin, above, and House Speaker Nancy Pelosi, D-Calif., negotiated a budget deal this week that increases federal spending.
Juan Mabromata/Getty Images
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Should low-income workers without kids get expanded tax credits?

by Ben Bradford
May 31, 2019
An expanded earned income tax credit has been floated by a number of Democratic presidential hopefuls.
New tax season, new rules but same amount of refund?
DNY59/iStock/Getty Images Plus
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Government shutdown 2019

Can Congress fix the broken process that governs government spending?

by Kimberly Adams
Nov 29, 2018
A bipartisan committee has spent nearly a year trying to come up with a better way to do things
The U.S. Capitol is seen in Washington, DC on Jan. 22, 2018 after the U.S. Senate reached a deal to reopen the federal government, with Democrats accepting a compromise spending bill.
MANDEL NGAN/AFP/Getty Images
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How much U.S. debt is too much?

by Tracey Samuelson
Oct 16, 2018
Balancing the federal budget is a bigger deal for politicians than economists.
The United States could simply make more money to pay its bills, said Stephanie Kelton, an economics professor at Stony Brook University. But taken to an extreme, that could lead to higher inflation.
Mark Wilson/Getty Images
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How much U.S. debt is too much?

by Tracey Samuelson
Oct 16, 2018
Balancing the federal budget is a bigger deal for politicians than economists.
The United States could simply make more money to pay its bills, said Stephanie Kelton, an economics professor at Stony Brook University. But taken to an extreme, that could lead to higher inflation.
Mark Wilson/Getty Images
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Federal deficit rises to six-year high following last year's tax cut

by Ben Bradford
Oct 16, 2018
The U.S. government is spending more and taking in less. The Treasury Department reported on Monday that the federal deficit has increased this past budget year to $779 billion, the largest deficit since 2012. The biggest culprit is last year’s Republican-backed tax overhaul, which cut tax rates for businesses and individuals. The tax law likely […]
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