House Delivers Biden Victory, and a Bet on America’s Future

Congress gave final approval to the Inflation Reduction Act, which will lower the cost of prescription drugs, extend health care subsidies and invest billions into climate and energy programs.

#biden-joseph-r-jr, #corporate-taxes, #democratic-party, #federal-budget-us, #global-warming, #health-insurance-and-managed-care, #inflation-economics, #inflation-reduction-act-of-2022, #united-states-politics-and-government

The Inflation Reduction Act Is a Huge Deal for the Climate

On climate, Biden got almost everything he wanted.

#american-families-plan-2021, #biden-joseph-r-jr, #democratic-party, #federal-budget-us, #global-warming, #inflation-reduction-act-of-2022, #republican-party, #senate, #tax-credits-deductions-and-exemptions

Democrats’ Long-Sought Plan for Lowering Drug Costs Is at Hand

Empowering Medicare to negotiate prices directly with drug makers has been a Democratic goal for 30 years, one the pharmaceutical industry has fought ferociously.

#biden-joseph-r-jr, #drugs-pharmaceuticals, #federal-budget-us, #health-insurance-and-managed-care, #law-and-legislation, #medicare, #prices-fares-fees-and-rates, #united-states-politics-and-government

Senate Passes Burn Pits Legislation, Expanding Benefits for Veterans

Republicans who had blocked the bill, which would extend benefits to an estimated 3.5 million veterans, allowed it to pass after trying unsuccessfully to limit funding for the treatments.

#federal-budget-us, #hazardous-and-toxic-substances, #health-insurance-and-managed-care, #law-and-legislation, #senate, #toomey-patrick-j, #united-states-defense-and-military-forces, #united-states-politics-and-government, #veterans, #veterans-affairs-department

Analysis Deems Biden’s Climate and Tax Bill Fiscally Responsible

Despite Republican claims, the new legislation would be only a modest corporate tax increase, Congress’s Joint Committee on Taxation found.

#alternative-and-renewable-energy, #congressional-budget-office, #corporate-taxes, #drugs-pharmaceuticals, #federal-budget-us, #global-warming, #income-tax, #inflation-economics, #inflation-reduction-act-of-2022, #internal-revenue-service, #joint-committee-on-taxation, #law-and-legislation, #national-debt-us, #senate-committee-on-finance, #tax-credits-deductions-and-exemptions, #tax-cuts-and-jobs-act-2017, #tax-evasion, #united-states-economy, #united-states-politics-and-government

Democrats’ Climate Deal Isn’t Done Yet. Here Are the Remaining Hurdles.

An agreement with Senator Joe Manchin III of West Virginia salvaged a key piece of President Biden’s agenda. But Democrats still have a few crucial steps to take before it becomes law.

#byrd-robert-c, #federal-budget-us, #inflation-reduction-act-of-2022, #law-and-legislation, #macdonough-elizabeth, #manchin-joe-iii, #schumer-charles-e, #senate, #sinema-kyrsten, #united-states-politics-and-government

How Joe Manchin Left a Global Tax Deal in Limbo

Treasury Secretary Janet L. Yellen’s signature achievement is in jeopardy if the United States cannot ratify the tax agreement that she brokered.

#corporate-taxes, #corporations, #european-union, #federal-budget-us, #federal-taxes-us, #manchin-joe-iii, #politics-and-government, #tax-shelters, #treasury-department, #united-states-economy, #united-states-international-relations, #united-states-politics-and-government, #yellen-janet-l

Democrats Propose Raising Taxes on Some High Earners to Bolster Medicare

The draft plan, which is expected to be unveiled in the coming days, is part of talks over how to salvage pieces of President Biden’s domestic agenda.

#democratic-party, #federal-budget-us, #federal-taxes-us, #income-tax, #manchin-joe-iii, #medicare, #payroll-tax, #schumer-charles-e, #senate

Democrats Offer Plan to Cut Drug Costs, Seeking Climate and Tax Deal

The drug-pricing plan was negotiated with Senator Joe Manchin III of West Virginia, but Democrats remain short of agreement on what else would be included in any domestic policy package.

#biden-joseph-r-jr, #drugs-pharmaceuticals, #federal-budget-us, #global-warming, #greenhouse-gas-emissions, #law-and-legislation, #manchin-joe-iii, #patient-protection-and-affordable-care-act-2010, #pharmaceutical-research-and-manufacturers-of-america, #united-states-politics-and-government

It’s Not Easy Being President

But we do have a few suggestions.

#biden-joseph-r-jr, #boudin-chesa, #cheney-liz, #democratic-party, #demonstrations-protests-and-riots, #federal-budget-us, #federal-reserve-system, #gun-control, #house-select-committee-to-investigate-the-january-6th-attack, #inflation-economics, #republican-party, #supreme-court-us, #taxation, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

Biden’s Curious Talking Point: Lower Deficits Offer Inflation Relief

The administration says federal spending trends are helping rein in price increases, but the economic calculus may be more complicated.

#biden-joseph-r-jr, #economics-theory-and-philosophy, #federal-budget-us, #federal-reserve-system, #inflation-economics, #prices-fares-fees-and-rates, #stimulus-economic, #united-states-economy, #united-states-politics-and-government

As Earmarks Return to Congress, Lawmakers Rush to Steer Money Home

Democrats and Republicans alike stuffed nearly 5,000 earmarks totaling $9 billion into the $1.5 trillion government spending bill signed by President Biden.

#earmarks-finance, #federal-budget-us, #house-of-representatives, #senate, #united-states-politics-and-government

Two Covid Problems

The U.S. may soon run out of Covid money. That’s not the only problem.

#biden-joseph-r-jr, #coronavirus-2019-ncov, #federal-budget-us, #internal-storyline-no, #molnupiravir-drug, #vaccination-and-immunization

Two Covid Problems

The U.S. may soon run out of Covid money. That’s not the only problem.

#biden-joseph-r-jr, #coronavirus-2019-ncov, #federal-budget-us, #internal-storyline-no, #molnupiravir-drug, #vaccination-and-immunization

Don Young of Alaska, the House Dean, Leaves an Earmark Legacy

The Alaska Republican lay in state on Tuesday in the Capitol, where he was renowned for his virtuosity with earmarking federal money for his state.

#alaska, #alaska-natives, #earmarks-finance, #federal-aid-us, #federal-budget-us, #house-of-representatives, #infrastructure-investment-and-jobs-act-2021, #trans-alaska-pipeline-system, #united-states-politics-and-government, #young-don

Here’s what Biden’s budget would do, and not do, for climate change

The president’s federal spending proposal for the next year contains almost $45 billion to deal with global warming. We looked at the details.

#biden-joseph-r-jr, #federal-budget-us, #global-warming, #greenhouse-gas-emissions, #internal-storyline-no, #manchin-joe-iii, #united-states-politics-and-government

Biden’s $5.8 Trillion Budget Pivots Toward Economic and Security Concerns

The president released his latest budget proposal amid war in Ukraine and concerns at home about rising costs.

#affordable-housing, #biden-joseph-r-jr, #crime-and-criminals, #federal-budget-us, #income-tax, #police, #police-reform, #russian-invasion-of-ukraine-2022, #united-states-defense-and-military-forces, #united-states-economy, #united-states-politics-and-government

Missing From Biden’s Budget: His Signature Policy Agenda

The Build Back Better package that has consumed Congress for months was relegated to the footnotes.

#biden-joseph-r-jr, #federal-budget-us, #federal-taxes-us, #law-and-legislation, #united-states-politics-and-government

With a Center-Leaning Budget, Biden Bows to Political Reality

The president’s budget addresses the main attack lines that Republicans are using against him and his Democratic allies in Congress in the run-up to the midterm congressional elections.

#biden-joseph-r-jr, #budgets-and-budgeting, #crime-and-criminals, #democratic-party, #federal-budget-us, #police, #republican-party, #united-states-international-relations, #united-states-politics-and-government

Biden Proposes Tax on Billionaires as Way to Fund Economic Agenda

The new tax would apply to the richest Americans and would target unrealized capital gains.

#biden-joseph-r-jr, #federal-budget-us, #income-tax

Biden’s Center-Leaning Budget Bends to Political Reality

The president’s budget addresses the main attack lines that Republicans are using against him and his Democratic allies in Congress in the run-up to midterm congressional elections.

#biden-joseph-r-jr, #democratic-party, #elections-house-of-representatives, #elections-senate, #federal-budget-us, #republican-party, #united-states-politics-and-government

Biden Aims to Boost Military and Social Spending in 2023 Budget

The president will unveil his latest budget proposal amid war in Ukraine and concerns at home about rising costs.

#biden-joseph-r-jr, #defense-department, #democratic-party, #economic-conditions-and-trends, #federal-budget-us, #federal-taxes-us, #treasury-department, #united-states-economy, #united-states-politics-and-government, #veterans-affairs-department

Biden to Include Minimum Tax on Billionaires in Budget Proposal

The tax would require that American households worth more than $100 million pay at least 20 percent on their full income, as well as unrealized gains in the value of liquid assets like stocks.

#biden-joseph-r-jr, #federal-budget-us, #federal-taxes-us, #high-net-worth-individuals, #income-tax, #united-states-politics-and-government

Congress Needs to Fund the Fight Against Covid-19

The pandemic isn’t over yet, but Congress seems to have lost interest in funding public health efforts against Covid.

#coronavirus-2019-ncov, #federal-budget-us, #humanitarian-aid, #law-and-legislation, #senate, #united-states-politics-and-government, #vaccination-and-immunization

Biden to Ask Congress for 9,000 Fewer Immigration Detention Beds

The administration plans to seek funding for 25,000 beds, down from the 34,000 beds that are currently funded. It also severed a contract with a detention facility in Alabama.

#biden-joseph-r-jr, #etowah-county-jail, #federal-budget-us, #illegal-immigration, #immigration-and-customs-enforcement-us, #immigration-and-emigration, #immigration-detention, #prisons-and-prisoners, #united-states-politics-and-government

NASA Plans to Give SpaceX Some Company on the Moon

The agency will seek bids for future lunar landing spacecraft from companies other than SpaceX, which won the first contract to return American astronauts to the moon.

#blue-origin, #dynetics-inc, #federal-budget-us, #moon, #national-aeronautics-and-space-administration, #private-spaceflight, #rocket-science-and-propulsion, #space-and-astronomy, #space-exploration-technologies-corp, #united-states-politics-and-government

Shalanda Young Confirmed to Head Biden’s Budget Office

Ms. Young is the first Black woman to lead the Office of Management and Budget, which had been without permanent leadership for more than a year.

#appointments-and-executive-changes, #biden-joseph-r-jr, #federal-budget-us, #house-committee-on-appropriations, #office-of-management-and-budget-us, #united-states-politics-and-government, #young-shalanda

The U.S. Has Made Big Climate Promises. Where’s the Money?

The latest spending bill in Congress contains far less money to help developing countries than President Biden had pledged. That fits a pattern.

#biden-joseph-r-jr, #biodiversity, #electric-and-hybrid-vehicles, #federal-budget-us, #georgia, #global-warming, #greenhouse-gas-emissions, #humanitarian-aid, #internal-storyline-no, #third-world-and-developing-countries, #trees-and-shrubs, #united-states-politics-and-government

Congress Clears $1.5 Trillion Spending Bill, Including Ukraine Aid

President Biden is expected to sign the measure, the first major spending bill since he took office.

#american-rescue-plan-2021, #biden-joseph-r-jr, #defense-and-military-forces, #federal-aid-us, #federal-budget-us, #law-and-legislation, #leahy-patrick-j, #mcconnell-mitch, #united-states-politics-and-government

Uncertainty for Biden’s Covid Plan After Aid Is Dropped From Spending Bill

The $15.6 billion emergency aid package was stripped amid disputes over how to pay for it, injecting uncertainty into the president’s pandemic response plan.

#coronavirus-2019-ncov, #federal-budget-us, #house-of-representatives, #united-states-politics-and-government

Democrats Strip Covid Aid From $1.5 Trillion Spending Package

Facing disputes over how to cover the cost of the pandemic response effort, Democrats dropped it rather than jeopardize legislation that includes aid for Ukraine and other top priorities.

#biden-joseph-r-jr, #coronavirus-2019-ncov, #e-cigarettes, #earmarks-finance, #federal-aid-us, #federal-budget-us, #foreign-aid, #house-of-representatives, #humanitarian-aid, #law-and-legislation, #mcconnell-mitch, #pelosi-nancy, #smoking-and-tobacco, #united-states-politics-and-government

War in Ukraine Rallies Support in Congress for More Military Spending

A bipartisan consensus in Congress to increase the Pentagon’s budget is growing stronger as Russia’s invasion of Ukraine has created a sense of insecurity.

#biden-joseph-r-jr, #cruz-ted, #defense-department, #federal-budget-us, #house-of-representatives, #luria-elaine-goodman, #malinowski-tom, #omar-ilhan, #putin-vladimir-v, #risch-james-e, #russian-invasion-of-ukraine-2022, #senate, #slotkin-elissa, #united-states-defense-and-military-forces, #united-states-politics-and-government, #young-todd-1972

I.R.S. Braces for Another Chaotic Tax Season

A shortage of staff and equipment has stalled America’s fiscal machinery.

#federal-budget-us, #federal-taxes-us, #internal-revenue-service, #united-states-politics-and-government

Senate Passes 3-Week Spending Bill, Averting Government Shutdown

The bill, which now goes to President Biden’s desk, will give lawmakers until March 11 to finalize a deal on spending levels for the remainder of the fiscal year.

#biden-joseph-r-jr, #democratic-party, #federal-budget-us, #law-and-legislation, #leahy-patrick-j, #republican-party, #senate, #shutdowns-institutional, #united-states-politics-and-government

Democrats Weigh Gas Tax Holiday and Deficit Cuts as Inflation Mounts

Democrats are looking to revamp their legislative agenda to focus on relief for rising prices before November’s midterm elections while trying to salvage their social policy bill.

#biden-joseph-r-jr, #democratic-party, #federal-budget-us, #gasoline-tax-us, #house-of-representatives, #inflation-economics, #law-and-legislation, #manchin-joe-iii, #schumer-charles-e, #senate, #united-states-economy, #united-states-politics-and-government

Modern Monetary Theory Got a Pandemic Tryout. Inflation Is Now Testing It.

Modern Monetary Theory, the buzziest economic idea in decades, got a pandemic tryout of sorts. Now inflation is testing its limits.

#american-rescue-plan-2021, #biden-joseph-r-jr, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #economics-theory-and-philosophy, #federal-budget-us, #federal-reserve-system, #inflation-economics, #interest-rates, #kelton-stephanie, #stimulus-economic, #united-states-economy

U.S. National Debt Tops $30 Trillion as Borrowing Surged Amid Pandemic

The record red ink, fueled by spending to combat the coronavirus, comes as interest rates are expected to rise, which could add to America’s costs.

#biden-joseph-r-jr, #congressional-budget-office, #coronavirus-2019-ncov, #federal-budget-us, #inflation-economics, #national-debt-us, #united-states-economy, #united-states-politics-and-government

Inflation and Deficits Don’t Dim the Appeal of U.S. Bonds

Treasury rates remain strikingly low, partly because of the safety government debt offers corporations and retirees. Whether that endures is crucial to federal spending.

#credit-and-debt, #federal-budget-us, #federal-reserve-system, #government-bonds, #inflation-economics, #interest-rates, #national-debt-us, #prices-fares-fees-and-rates, #stocks-and-bonds, #treasury-department, #united-states-economy

We Must Stop Showering the Military With Money

America faces lots of challenges. A blank check for the Pentagon doesn’t help solve them.

#afghanistan-war-2001, #congressional-budget-office, #federal-budget-us, #law-and-legislation, #project-on-government-oversight, #united-states-defense-and-military-forces, #united-states-politics-and-government

How Much Should You Fret About Rising Federal Debt?

The federal government is borrowing cheaply, but its debt could reach a tipping point.

#credit-and-debt, #federal-budget-us, #government-bonds, #interest-rates, #internal-sub-only-nl, #national-debt-us

Why Biden’s Expanded Child Tax Credit Isn’t More Popular

The expansion has expired, and a bill to renew it has stalled. Public opinion is favorable but not overwhelmingly so, for several reasons.

#biden-joseph-r-jr, #child-tax-credits-and-stipends, #families-and-family-life, #federal-budget-us, #law-and-legislation, #manchin-joe-iii, #polls-and-public-opinion, #united-states-politics-and-government

Manchin in the Middle: Is He a ‘No,’ or a ‘Not Yet’?

Democrats have been left hoping that the West Virginian, who fashions himself as an old-school centrist dealmaker, will eventually budge on President Biden’s agenda.

#american-families-plan-2021, #biden-joseph-r-jr, #democratic-party, #federal-budget-us, #law-and-legislation, #manchin-joe-iii, #senate, #united-states-politics-and-government, #west-virginia

What We Lose if We Don’t Build Back Better

Manchin’s justifications for his betrayal won’t wash.

#american-families-plan-2021, #congressional-budget-office, #federal-budget-us, #inflation-economics, #manchin-joe-iii, #national-debt-us

Biden Agenda Sinks Under its Own Ambitions

A key Democrat’s decision to pull support from the president’s sprawling climate and social agenda is rooted in the scope of the bill.

#coronavirus-aid-relief-and-economic-security-act-2020, #federal-budget-us, #infrastructure-investment-and-jobs-act-2021, #law-and-legislation, #united-states-politics-and-government, #us-dollar-currency

Joe Manchin Says He Can’t Support Build Back Better Act

“I cannot vote to continue with this piece of legislation,” Mr. Manchin said on ‘Fox News Sunday,’ citing concerns about adding to the national debt.

#american-families-plan-2021, #democratic-party, #federal-budget-us, #law-and-legislation, #manchin-joe-iii, #senate, #united-states-politics-and-government

Senate Passes $768 Billion Defense Bill, Sending It to Biden

Lawmakers in both parties linked arms in an overwhelming vote authorizing an increase in the Pentagon’s budget of roughly $24 billion more than President Biden requested.

#austin-lloyd-j-iii, #biden-joseph-r-jr, #defense-department, #federal-budget-us, #senate, #united-states-defense-and-military-forces, #united-states-politics-and-government

Republicans Who Assailed Biden’s Stimulus Bill Are Embracing the Money

Republican governors who criticized the $1.9 trillion Covid relief bill as wasteful are championing state projects funded by the money.

#american-rescue-plan-2021, #biden-joseph-r-jr, #budgets-and-budgeting, #coronavirus-2019-ncov, #democratic-party, #desantis-ron, #dewine-mike, #ducey-doug-1964, #federal-aid-us, #federal-budget-us, #gianforte-greg-1961, #noem-kristi, #republican-party, #stimulus-economic, #united-states-politics-and-government

The Bogus Bashing of Build Back Better

Beware of bad faith, bad logic and bad arithmetic.

#american-families-plan-2021, #build-back-better-act, #children-and-childhood, #federal-budget-us, #united-states-economy, #united-states-politics-and-government

House Prepares to Pass $768 Billion Defense Policy Bill

Lawmakers tossed out some bipartisan provisions as they rushed to advance the bill, which would increase the Pentagon’s budget by more than what President Biden had requested.

#biden-joseph-r-jr, #defense-department, #democratic-party, #draft-and-recruitment-military, #federal-budget-us, #house-of-representatives, #law-and-legislation, #republican-party, #senate, #united-states-defense-and-military-forces, #united-states-politics-and-government

Republicans Threaten Government Shutdown Over Vaccine Mandates

With federal funding set to lapse on Friday, President Biden’s mandate for large employers has emerged as a sticking point over a stopgap spending bill.

#coronavirus-2019-ncov, #federal-budget-us, #house-of-representatives, #law-and-legislation, #marshall-roger-w-1960, #mcconnell-mitch, #republican-party, #schumer-charles-e, #senate, #shutdowns-institutional, #united-states-politics-and-government, #vaccination-and-immunization