Taxes

Mulvaney: Democratic Criticism of CHIP Clawbacks Is Pure Hypocrisy

By Yuval Rosenberg

Mick Mulvaney is firing back at Democratic critics of the White House’s plan to cut $15.4 billion in spending, including $7 billion in unspent funding for the Children’s Health Insurance Program. In...
Global Dealmaking on Path to New High

By Michael Rainey

The tax cuts are providing a big boost for corporate dealmaking, as t he lower corporate tax rate and the repatriation of foreign holdings free up cash that companies can use to make new investments...
Tax Cuts Fuel Record Bank Profits

By Michael Rainey

Thanks in part to the tax cuts taking effect this year, banks insured by the Federal Deposit Insurance Corporation reported record earnings of $56 billion for the first quarter of 2018. That...
3 Big Risks the US Faces as Debt Levels Soar

By Yuval Rosenberg and Michael Rainey

In a new note to clients, Goldman Sachs economists say that U.S. fiscal outlook “is not good.” If you’re reading this you likely already knew that the picture isn’t pretty — but the new Goldman Sachs...
Americans Still Say Government Is the Biggest Problem Facing the Country

By Yuval Rosenberg

This will come as a surprise to at least some of you: 37 percent of Americans are satisfied with the way things are going in the country, according to a new Gallup poll — up from 29 percent last...

US Fertility Just Hit a 30-Year Low. Why That's a Problem for Social Security

By Michael Rainey

Births in the U.S. fell to a multi-decade low last year, according to data from the National Center for Health Statistics released Tuesday. The provisional estimate shows 3.85 million births in the U...
A 'Terrible Intergenerational Transfer:' Pros and Cons of the Tax Cuts

By Yuval Rosenberg

The House Ways and Means Committee held a three-hour hearing Wednesday on the effects of the Republican tax overhaul. We tuned in so you wouldn’t have to. As you might have expected, the hearing was...
Business Investment Picking Up Steam

By Michael Rainey

Companies in the S&P 500 are increasing spending on their businesses at the fastest rate since 2011, The Wall Street Journal reports . Capex investment, which includes things like building...
Congress Has a Lot to Do Before Summer Break

By Michael Rainey

With the tax cuts passed and the White House increasingly focused on foreign policy, Republicans in Congress have set many of their top agenda items – from Obamacare repeal to immigration reform – on...
Rising Gas Prices Eat Into the Tax Cuts

By The Fiscal Times Staff

The monthly retail sales report due Tuesday morning should shed some light on the tug of war consumers are facing between the bump in take-home pay from the tax cuts and increasing toll they face at...

Are the Tax Cuts Boosting the Economy? Why It’s Too Soon to Tell

By Michael Rainey

The government’s first estimate of economic growth at the beginning of 2018 was better than expected: GDP increased at a 2.3 percent annual rate in the first quarter, the Commerce Department said...
Why $21 Trillion in Debt Doesn't Bother the Credit Agencies

By The Fiscal Times Staff

The U.S national debt has surpassed $21 trillion, up 2.8 percent since the start of the year, but two of the leading credit agencies aren’t worried about the country’s ability to keep up with its...
Treasury Department Encourages Workers to Check Their Withholding

By The Fiscal Times Staff

With the new tax law in place, the Treasury Department is urging taxpayers to take another look at their paychecks and make sure the right amount is being withheld. “We urge taxpayers to visit the...
Sparring Over the Tax Bill

By Michael Rainey

The Senate Finance Committee heard from supporters and critics of the new tax law in a hearing on Tuesday afternoon. There was little agreement to be found, with the Republican witnesses largely...
Why the Deficit Outlook Could Be Even Worse Than It Seems

By The Fiscal Times Staff

The Congressional Budget Office warned earlier this month that the U.S. will start running $1 trillion deficits in 2020, and that the national debt will be nearly as large as the economy in a decade...