Highest for individuals since 1913. The nonpartisan Congressional Budget Office (CBO) has released its budget and economic outlook for 2022 and it shows that federal taxes are rising…
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Individual Income Taxes Surge
Will go higher as previous administration’s tax cuts expire. Americans are now paying the most in individual income taxes ever. According to a new budget analysis presented to…
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CBO Scores Build Back Better Program
They project $5 billion total price tag. Both the House and Senate are in session this week and looking to finalize the Build Back Better proposal before the…
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House Passes Build Back Better Act
$2 trillion measure faces hurdles in the Senate. On Friday, the House of Representatives passed President Biden’s $1.85 trillion Build Back Better Act, sending the measure to the…
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House Plans Friday Vote on Build Back Better Bill
CBO analysis of legislation’s costs due Friday. House Majority Leader Steny Hoyer said that the chamber’s leadership plans to hold a vote on final passage of President Biden’s…
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Infrastructure Bill Sent to President’s Desk
President Biden said he will sign it “soon.” In a 228-206 vote late Friday, the House voted to pass the $1.2 trillion infrastructure bill that pours billions of…
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Speaker Says Congress Has Options on Debt Ceiling
Treasury Secretary says not raising the ceiling would be “catastrophic.” As members of Congress return from its Labor Day recess, they must address raising or suspending the debt…
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USAF Proposes Reductions Due to Budget
Flight hours and C-130 aircraft decrease requests are made to Congress. The U.S. Air Force is proposing a cut of 87,500 hours of flight time for its pilots…
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U.S. Deficit Climbs in First Two Months of Fiscal Year
Increase in spite of month of November year over year totals dropping. The Treasury Department reported a deficit totaling $429.3 billion in the first two months of the…
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U.S. Borrows to Offset Economic Impact of COVID-19
Nation’s budget deficit surpasses $284.1 billion. The United States will start 2021 with the largest budget deficit it has ever seen according to numbers released by the Department…
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