She presses Congress to strike a deal. Treasury Secretary Janet Yellen wrote another letter to Congress this week, reaffirming that the federal government could run out of money…
Read MoreFederal Spending
White House Postpones Debt Limit Meeting to Next Week
President’s staff continues its planning. Friday, May 12, had been set as the next time President Biden and top legislators would meet to try to hammer out a…
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President Biden Moving Slightly on Debt Ceiling
Top federal leaders move to avoid a financial default. Following an event in New York City, President Joe Biden stated he is willing to negotiate spending cuts with…
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President Biden Calls for May 9 Budget Meeting
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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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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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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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…
Read MoreSpeaker Seeks Debt Ceiling Meeting with President
Speaker McCarthy hopes to limit government spending. In a letter sent Tuesday to President Biden, House Speaker Kevin McCarthy of California asked for a round of talks to…
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