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.…
Read MoreFederal Spending
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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House Speaker Responds to President’s Proposed Budget
White House appears ready to negotiate. President Biden has submitted his budget to Congress. The $6.8 trillion budget addresses four main areas—deficit reduction, lower costs for families, Medicare…
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CBO Director Calls for Cutting Deficit Spending in Half
Debt could stabilize in 10 years. Congressional Budget Office Director Phillip Swagel said that reducing deficit spending by 50 percent, as measured as a percentage of the country’s…
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President’s Budget Includes Tax Increases
Increases focus on the wealthy and big corporations. President Biden promised a budget that would accomplish many things during his State of the Union address last month, including…
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Social Security Could Get Age Benefit Changes
The solvency of the program is at the heart of discussions. Changing the age requirement for receiving Social Security benefits is under consideration by a bipartisan group of…
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