President names advisors to his negotiating team. Before President Joe Biden headed to Japan and the G7 Summit, he added two advisers to his administration’s budget negotiation team.…
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Secretary Yellen Reaffirms June 1 Budget Deadline
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…
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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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Federal Reserve Raises Interest Rates Again
Currently at 5 percent. Federal Reserve officials raised interest rates a quarter of a percent Wednesday. Rates are now at their highest since 2007. This increase is yet another…
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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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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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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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