Fiscal Policy

Update 729 — House Elects Speaker: Can Bipartisan Fiscal Policy Follow?

The GOP House effort to elect a Speaker concluded this afternoon when Rep. Mike Johnson (R-LA) prevailed in a 220-209 party-line vote. This means that Congress can return to fiscal policy — though already about half the time available to move past the current FY24 continuing resolution that is keeping the government open until November …

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Update 722 — From Strikes to Shutdown: Challenges to the Post-Covid Recovery

A tumultuous week in Washington and the industrial Midwest hints at a set of short-term challenges that threaten the nation’s rapid recovery from the post-Covid recession. Failure this week, particularly by House Republicans bent on impeachment, to make meaningful budget making progress and avoid a government shutdown and by Detroit automakers to avert the UAW …

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Rules of engagement

Update 660 — Rules of Engagement:Starve the Beast, with an Orwell Nod On Monday, the House of Representatives adopted the GOP Rules for the 118th Congress. Newly-minted Speaker McCarthy had to make many concessions with the most extreme MAGA members in his conference in exchange for their votes, including creating new oversight committees and spending …

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The Putative 118th Congress

Update 659 — The Putative 118th Congress:What’s Ahead for Economic Policy Legislation The House GOP conference has had several thousand dollars of pizza delivered this week to sustain it through failed ballot after ballot to elect a Speaker. This spectacular display of chaotic dysfunction comes two years after the insurrection on the Capitol, a more …

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$1.7 T Budget Deal Caps Prolific Year

Update 658 — 117th Congress Wraps:$1.7 T Budget Deal Caps Prolific Year Congress heard last night from Ukrainian President Volodymyr Zelensky, who reminded democracies around the world that we are all In this — defense of self-government against state terrorism  — together. Congress concurred and will provide $45 billion in assistance to Ukraine to repel …

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Tax Talk of the Town

Update 654 — Tax Talk of the Town:Fate of CTC and R&E Rest on FY23 Good news from Georgia — Senator Raphael Warnock has won re-election, giving Democrats 51 seats and a governing majority in the Senate (which we cover Friday).  Members of Congress, staff and advocates are working feverishly to hash out a compromise …

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Trifecta’s Final Frame

Update 651 — Trifecta’s Final Frame:What Can Still Make it in Lame Duck? Congress returns from Thanksgiving break next Monday for a month-long lame duck session — all that remains of the 117th Congress until Christmas Eve, when you can expect adjournment — and the last shot for Democrats to make use of their fleeting …

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Congress OKs FY23 CR

Update 638 — Congress OKs FY23 CRFinal Budget Can Kicked to December Yesterday, the Senate passed a continuing resolution to fund the government through mid-December, by a vote of 72-25. And just earlier this afternoon, the House passed the measure, but with much less bipartisan support, 230-201. With this must-pass item completed, Congress stands adjourned …

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What’s Next on Democrat’s Tax Agenda?

Update 631 — Overhaul Talks Over for Now,What’s Next on Democrats’ Tax Agenda? When Congress passed and President Biden signed the Inflation Reduction Act into law, numerous tax provisions were included — increased funding for the IRS, a 15 percent corporate minimum tax, a 1 percent excise tax on stock buybacks — but they did …

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