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 863 – A Tariffying 100 Days:GDP, Markets, Polling All in Retreat Yesterday marked 100 days since Trump began his second term, a period marked by chaotic and unpredictable shifts in economic policy and a prioritization of Wall Street and the wealthy at the expense of everyday people. His administration, with acquiescence by congressional Republicans, …
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 …
Update 843 — Trump, Musk Shutter CFPB;Fork in the Road for Reconciliation Process The stop-and-start effort on the Hill to act on Donald Trump’s legislative priorities — tax, border security, defense, and energy — via the reconciliation process hit a fork in the road this week. The GOP may have a trifecta but the House …
Update 834 — Reconciliation and Beyond: Econ. Policy Agenda in Congress, Part 1 The legislative priorities and strategic approach regarding the nation’s major economic policy issues facing the 119th Congress, sworn in last Friday, and the debate around them, are coming into view. Over the next few weeks and months, the GOP majorities in both …
Update 834: Econ. Policy Agenda in Congress, Part 1 Read More »
Update 830 — Lame Duck Finish Line: Remaining Business of 118th Congress This morning’s November CPI report, showing overall inflation ticking up to 2.7 percent last month, shows that the steep price increases of the past two years have eased but far less than the Federal Reserve would prefer. The new data comes ahead of the …
Update 621 — COMPETES to Pass Sans HitchHit an Obstruction Named Mitch; Now What? Two weeks ago — amid extensive conference committee deliberations — Sen. Mitch McConnell announced his intention to block bipartisan negotiations on a USICA/COMPETES bill, industrial policy legislation aimed to compete with China, if Senate Democrats continued to pursue a “partisan reconciliation …
