Congressional Budget Office projections released on Tuesday show a grim fiscal backdrop ahead of tax and debt limit fights.
Category: Federal Budget (US)
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Biden Looks to Raise Taxes on Wealthy and Corporations to Shave Deficit
Lael Brainard, the director of the National Economic Council, said lawmakers should raise taxes on companies and the wealthiest while extending the 2017 cuts for those making less than $400,000.
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Inflation Is Stubborn. Is the Federal Budget Deficit Making It Worse?
Economists are divided over whether the growing amount of federal borrowing is fueling demand and driving up prices.
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Inflation Is Stubborn. Is the Federal Budget Deficit Making It Worse?
Economists are divided over whether the growing amount of federal borrowing is fueling demand and driving up prices.
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Biden Takes Aim at SpaceX’s Tax-Free Ride in American Airspace
President Biden wants companies that use American airspace for rocket launches to start paying taxes into a federal fund that finances the work of air traffic controllers.
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Biden, Promising Corporate Tax Increases, Has Cut Taxes Overall
President Biden has called for $5 trillion in new taxes on corporations and high earners. But his record so far is as a net tax cutter.
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U.S. Debt Races Toward Record This Decade, C.B.O. Warns
Recently passed spending limits have slightly improved the nation’s fiscal outlook.
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Biden’s Budget Underscores Divide With Republicans and Trump
The president’s $7.3 trillion budget proposal for the next fiscal year includes about $3 trillion in deficit reduction over a decade, largely from raising taxes on high earners and corporations.
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Biden’s Budget Calls for Tax Increases on Corporations and the Wealthy
The budget, which would cut the deficit by $3 trillion over the next decade, reinforces Biden’s efforts to counter Republican tax proposals that Democrats deride as giveaways to the wealthy.
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Here’s the latest on the president’s priorities.
The president’s $7.3 trillion budget proposal for the next fiscal year includes about $3 trillion in deficit reduction over a decade, largely from raising taxes on high earners and corporations.
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Biden Budget Will Underscore Divide With Republicans and Trump
The president’s fiscal 2025 budget proposal includes about $3 trillion in deficit reduction over a decade, largely from raising taxes on high earners and corporations.
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Trump’s Tax Cut Fueled Investment but Did Not Pay for Itself, Study Finds
The most detailed research yet on corporate response to the 2017 Republican tax law shows modest gains for workers and high cost to the federal debt.