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 […]
Critics of FAA reauthorization bill say it fails to address major upgrades to air traffic control system
Congress has pushed off deadlines for the reauthorization bill, but the next one is at the end of September.
Every year at this time, federal agencies scramble to spend down their budgets.
President Donald Trump heads to upstate New York on Monday to sign one of the largest military budgets in the nation’s history. The $716 billion John S. McCain National Defense Authorization Act pours money into pay, training and equipment maintenance, among other things. But some point out it adds to the fast-rising federal deficit and […]
The budget deal amounts to $400 billion.
Of course, the Senate deal has to be approved by the House and signed by President Donald Trump. But, assuming that happens, we wouldn’t have to worry about shutdowns or continuing resolutions until the end of fiscal 2019. So what then would a two-year spending plan mean for the federal government? Click the audio player […]
Funding for the much-lauded ARPA-E innovation program, which funds energy projects with serious potential, will be removed.
The federal budget released today is pretty much a fantasy document that will be dead on arrival when it gets to Congress, economists say. But even scaled back, proposed budget cuts to Medicaid, food assistance and other programs for the poor are likely to tear a hole in the safety net the likes of which […]