Michael Rainey

With Republicans in control of all major branches of the federal government starting in January, it seems reasonable to assume that it will be smooth sailing ahead for GOP policymakers as they roll out their plans to overhaul the tax system, dramatically reduce spending and carry out President-elect Donald Trump's plans to deport migrants, boost the oil industry and strike back at foes both inside government and out. But cracks are already beginning to show in the foundation of the new Trump era, as key lawmakers lay out different legislative strategies for how to proceed next year.

Saying they want to fulfill a pledge made by President-elect Donald Trump and avoid burdening the economy with higher taxes, Republicans in Congress plan to extend the individual tax cuts passed in 2017 and set to expire at the end of 2025, at a cost of more than $4 trillion in lost revenues over 10 years. But a new analysis from the Congressional Budget Office raises questions about the economic value of extending the tax cuts, finding that it would do little to increase growth while producing

Michael Rainey 3 min read Saying they want to fulfill a pledge made by President-elect Donald Trump and avoid burdening the economy

Michael Rainey 2 min read The U.S. economy added 227,000 jobs in November, the Department of Labor reported Friday, as the labor

A massive legislative response to the Covid-19 pandemic, the $1.9 trillion American Rescue Plan Act signed into law by President Joe Biden in 2021 included more generous subsidies for those who get their health insurance through the Affordable Care Act, part of an effort to ensure that more Americans have access to healthcare. Those subsidies were extended through 2025 by the Inflation Reduction Act, and Democrats are pushing to extend those subsidies for at least another year in the current budget negotiations. It's not clear, however, whether Republicans will be interested in providing extra funding for a program they widely deride as Obamacare, and a new analysis from the Congressional Budget Office shows just how costly GOP opposition could be.

President Joe Biden on Tuesday vigorously defended his economic record while warning that the policies proposed by his successor would be a “major mistake” that would harm American consumers.

The rate of inflation edged higher in November as consumer prices rose 2.7% relative to a year ago and 0.3% relative to the month before, the Labor Department announced Wednesday. Both readings were a tenth of a percentage point higher than in October, raising concerns that progress in the battle against inflation has stalled above the Federal Reserve’s 2% target rate.Major drivers behind the inflationary wave include car insurance, which saw a 12.7% increase in prices year over year, housing an

The House Freedom Caucus said Friday that it wants the new Congress to quickly pass a reconciliation bill focused on border issues and then move on to a second, more complicated bill that addresses other key Republican agenda items, including taxes and government spending.

Michael Rainey 2 min read Sen. Josh Hawley is calling for the Child Tax Credit to more than double in value, rising from the current maximum of $2,000 per child to $5,000 per child annually.

Although Republicans have produced a last-minute bill that would avoid a government shutdown, there's still a fair chance that lawmakers will fail to agree on the path forward in the next 36 hours, resulting in the loss of some federal functions starting at midnight on Friday. Here's a rundown on what that would mean for different agencies and services.