McConnell threatens a short-term continuing resolution if Democrats fail to satisfy his demands for an omnibus bill. This is because November’s federal deficit was a record-setting $249 billion, $57 billion larger than the same month last year, as the Republican takeover of the House they are refocusing attention on the government’s finances.
Despite driving to Delaware a total of 59 times and making a pit stop for ice cream eight times since assuming office, President Joe Biden said on Tuesday that he hadn’t visited the border with Mexico because of more pressing issues. While in Arizona, Biden justified his choice to forego visiting the border, telling the media that there are more pressing matters.
Rate rises may slow down as officials acknowledge how they affect the economy with a lag. To combat inflation, the Federal Reserve increased interest rates by 0.75 percentage points and announced its intention to continue doing so, although in smaller increments.
Top Republican legislators say they’ll use the federal debt ceiling to force President Biden to negotiate if they regain control of Congress, threatening to rekindle high-stakes brinkmanship that might drive the U.S. into default and create big new issues for the White House next year.
Republicans in six states are seeking an injunction to prevent the Biden administration from proceeding. Attorneys for the Biden administration and the states opposing the president’s plan to cancel student loans faced off in a federal court hearing on Wednesday, leaving the initiative’s future uncertain.
Wall Street’s top regulator is pursuing the largest reform of the $51 trillion U.S. stock market in two decades. First, he will have to combat a significant industrial opposition effort.
Following OPEC’s cut, Biden is releasing 10 million more barrels of oil from the US Strategic Petroleum Reserve.
President Biden’s plan to eliminate student debt is estimated to cost $400 billion more to the federal government, according to the nonpartisan Congressional Budget Office. […]
The price tag for Biden’s Student Forgiveness has hidden costs as well. The obvious cost is the face value of the forgiveness (either ten k or 20k). But other expenses need to be added to the price of the Loan Forgiveness.
Officials said Friday that the Internal Revenue Service unintentionally released sensitive information pertaining to around 120,000 people before finding the issue and removing the material from its website.
Additionally, the IRS disclosed that in addition to sharing Form 990-T information with charities, they also accidentally shared data about taxpayers’ IRAs. The disclosures included these IRAs’ names, contact information, and income-related financial information. It did not include Social Security numbers, complete individual income information, or any other information that may harm a taxpayer’s credit, the Treasury Department found, according to the letter sent Friday to senior members of Congress.
Did the IRS leak your information?
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