Update 878 – OBBB’s Parable of the Cave: GOP Moderates, Hawks Chicken Out on Bill Moments ago, the House passed Trump’s signature domestic economic legislation, the “One Big Beautiful Bill Act,” sending it to Trump’s desk in time for July 4. Trump achieves much of his domestic policy agenda, with his TCJA tax cuts extended, …
Update 867 – House Marathon Mark-ups:Reconciliation Tax, Spending Cuts OK’ed This week, the House Ways and Means, Energy and Commerce, and Agriculture Committees approved their portions of the GOP’s reconciliation bill following grueling, multiday markups. The harmful committee proposals pair $3.8 trillion in net tax cuts over ten years – a fourth of which would …
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 859: Less Enforcement, Broader BreaksTrump IRS Could Threaten America’s Tax System Millions of Americans filed their taxes this week ahead of yesterday’s filing deadline. But this year’s tax day comes amid the Trump administration’s attempts to dismantle the Internal Revenue Service (IRS), the very body responsible for collecting tax revenue used to fund important …
