As the president prepares to meet with Speaker Kevin McCarthy this week, his budget shares little common ground with spending and tax proposals from House Republicans.
Category: Congressional Budget Office
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The Debt Ceiling Debate Is About More Than Debt
Republicans’ opening bid to avert economic catastrophe by raising the nation’s borrowing limit focuses more on energy policy than reducing debt.
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House G.O.P. Eyes Rescinding Unspent Covid Money as Part of Its Fiscal Plan
Estimates put the amount of leftover money between $50 billion and $70 billion. But even if Republicans could claw it back, it would not make much of a dent in the deficit.
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Biden Will Release Dead-on-Arrival Budget, Picking Fight With GOP
The New York Times – Business:The president’s plans have little in common with the budget Republicans are set to release this spring, as the nation hurtles toward a possible default on its debt.
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Biden Is Set to Detail at Least $2 Trillion in Measures to Reduce Deficits
The New York Times – Business:The president’s proposals, included in the budget he will release on Thursday, are expected to heavily feature tax increases on corporations and high earners.
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Biden Is Set to Detail at Least $2 Trillion in Measures to Reduce Deficits
The New York Times – Business:The president’s proposals, included in the budget he will release on Thursday, are expected to heavily feature tax increases on corporations and high earners.
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Supreme Court Skeptical of Biden’s Student Loan Cancellation Plan
The New York Times – Business:The administration faced a conservative court that has insisted that government initiatives with major political and economic consequences be clearly authorized by Congress.
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Supreme Court to Hear Cases on Biden’s Student Loan Cancellation Plan
The New York Times – Business:The administration faces a conservative court that has insisted that government initiatives with major political and economic consequences be clearly authorized by Congress.
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U.S. Could Default on Its Debt Between July and September, C.B.O. Says
The New York Times – Business:The nonpartisan budget office also said that if tax receipts fall short of projections, and Congress fails to act on the debt limit, the U.S. could run out of cash before July.
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Appeals Court Blocks Biden’s Student Debt Cancellation Plan
The New York Times – Business:The decision comes days after the government temporarily stopped accepting applications for the debt relief because of legal challenges.