Update 895 – Sliding toward ShutdownFY26 Status Leads Week’s Round-Up With only 10 days left for Congress to approve and Trump to sign a Fiscal Year 2026 (FY26) budget to avoid a shutdown, the House voted today to advance a Republican CR proposal that would fund the government through November 21. But the Senate quickly …
Update 882 – Fiscal Fingers Crossed?Rescissions Package Sets Precedent For the first time in over 30 years, Congress has acted on a presidential rescissions request under the Impoundment Control Act to cancel funding that was previously approved in bipartisan appropriations bills. Beyond funding cuts, this move sets a precedent for undoing negotiated agreements by simple …
Update 880 – Recissions’ Impact on FY26, Gould’s OK for OCC Lead Week’s Round-Up Senate Republicans this week debated Trump’s $9.4 billion rescissions package targeting funding for international aid and public broadcasting, which faces a July 18 deadline for a simple majority vote. While the package is small, its passage could cloud negotiations on FY26 …
Update 874 – Tariff Rate Date MoveMay CPI, Rescissions Bill Lead Week On Tuesday, President Trump announced that the United States had completed a framework for a trade deal with China, calling for both countries to loosen export controls and bring tariff rates back down to levels agreed to in the Geneva “truce.” The next …
Update 874: Round-Up on Trade, Prices, Recissions Read More »
Update 870 – House OKs Trump OBBB:On to the Senate for Tweak or Overhaul? The House passed the One Big Beautiful Bill Act (OBBB) yesterday in a 215-214 vote after a week of seemingly fraught negotiations. The bill, which consists of trillions of dollars in tax cuts that are skewed towards the ultra-wealthy and paid …
Update 868 – Reconciliation Halted:House Budget Stops Massive Tax Bill In a somewhat surprising turn of events today, the House Budget Committee rejected the GOP reconciliation blueprint, with four Republicans joining Democrats in opposition. The Republican defectors cited concerns over the proposal’s overall deficit impact, as well as delays in implementing cost-reduction measures like Medicaid …
Update 866 – GENIUS Fails Senate Test;Reconciliation Faces Test next Tuesday Yesterday, after trying to muscle Democrats into moving forward with the first major piece of crypto legislation this Congress, Senate Majority Leader John Thune faced an embarrassing setback when the GENIUS Act failed to get cloture, falling short by a surprisingly wide margin. The …
Update 864 – GDP Contracts by 0.3%;Trump Skins FY26 Domestic Spending Three key pieces of economic data were released this week. The Fed’s preferred measure of inflation ticked down to 2.3 percent in March, nearing the Fed’s two percent target, while a strong 177,000 jobs were added to the economy and unemployment remained unchanged at …
Update 777 — 175,000 Jobs Added in AprilLabor Market Data; Week’s Key Hill Hearings On Wednesday, Fed Chair Powell made clear that long-elevated interest rates would remain in place, perhaps well into autumn, until either price or labor market data showed a retreat. This morning’s jobs report showing the economy added 175,000 jobs in April …
Update 777: April Jobs Data; Week’s Key Hill Hearing Read More »
