He says a draft budget is needed before June 1. President Joe Biden called on the four party leaders of Congress to attend a federal budget meeting at…
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House Passes Debt Ceiling Bill
President is unwilling to negotiate. The House of Representatives passed a bill on Wednesday that would increase the government’s legal debt ceiling in exchange for steep spending restrictions.…
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IRS Answers 2.4 Million More Phone Calls in 2023
An increase in funding results in 5,000 additional staff hired. The Department of the Treasury released updated statistics this week about the performance of the Internal Revenue Service…
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Treasury Reports $129 Billion Brought In on Tax Day
Financial analysts watching 2022 tax receipts closely. The Department of the Treasury released the daily financial statement for the annual tax filing deadline last week, showing a total…
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IRS Commissioner Presents 2024 Budget Proposal to Senate
He advocates for increases despite skepticism. Commissioner of the Internal Revenue Service (IRS) Danny Werfel testified before the Senate Finance Committee, presenting the proposed 2024 budget for the…
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President Announces New Climate Agency
He signs an executive order that expands his Justice40 Initiative. President Joe Biden signed an executive order establishing the Office of Environmental Justice. The order directs federal agencies to…
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Executive Order Expands Access to Child and Long-Term Care
The order provides no extra funding but provides directives to Cabinet members. President Joe Biden signed an executive order this week to expand the availability of both child…
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House Speaker Unveils Debt Limit Proposal
Debt ceiling would go up, and discretionary spending would come down. House Speaker Kevin McCarthy of California revealed a plan to increase the debt limit and cut government…
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Congress Takes Up Budget Hearings
The National Defense Authorization Act is one of the key items. Congress returned from Easter break to begin over 20 budget hearings in the House and Senate Appropriations…
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Speaker McCarthy Addresses New York Stock Exchange
He discussed the debt ceiling and spending cuts. Speaker of the House of Representatives Kevin McCarthy outlined his plan to cut federal spending and arrange for an increase…
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