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.
Category: National Debt (US)
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Biden Is Set to Detail at Least $2 Trillion in Measures to Reduce Deficits
The New York Times – Business: -
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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Debt Default Would Cripple U.S. Economy, New Analysis Warns
The New York Times – Business:As President Biden prepares to release his latest budget proposal, a top economist will warn lawmakers that Republicans’ refusal to raise the nation’s borrowing cap could put millions out of work.
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Republican Votes Helped Washington Pile Up Debt
The New York Times – Business:As they escalate a debt-limit standoff, House Republicans blame President Biden’s spending bills for an increase in deficits. Voting records show otherwise.
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IRS Decision Not to Tax Certain Payments Carries Fiscal Cost
The New York Times – Business:The Biden administration has opted not to tax state payments to residents, a decision that could add to the nation’s fiscal woes.
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U.S. Could Default on Debt as Early as Summer, New Estimate Says
The New York Times – Business:The Bipartisan Policy Center said the nation could run out of cash this summer or early fall if Congress did not raise the debt limit.
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U.S. on Track to Add $19 Trillion in New Debt Over 10 Years
The New York Times – Business:Congressional Budget Office projections released on Wednesday suggested rising interest rates and bipartisan spending bills are adding to deficits, amid a partisan fight on fiscal policy.
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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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Biden and McCarthy Are Set to Discuss Debt Limit as Both Sides Trade Barbs
The New York Times – Business:The hours leading up to the meeting have highlighted the differences between the White House and the Republicans who now control the House.
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Biden Demands Details on Budget Cuts From McCarthy
The New York Times – Business:Ahead of a meeting at the White House on Wednesday, administration officials demanded that Republicans commit to avoiding a default on federal debt.
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Wall Street Is Counting on a Debt Limit Trick That Could Entail Trouble
The New York Times – Business:If the debt limit is breached, investors expect Treasury to put bond payments first. It’d be politically and practically fraught.