Budget Battles
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Medicaid Work Rules Approved for South Carolina
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Chart of the Day: Drug Price Plans Compared
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Watchdog Questions $6.7 Billion in Medicare Payments
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House Passes Pelosi’s Sweeping Drug Bill
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Shocking Health Care Statistic of the Day
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Ready to Rumble: How Pelosi’s Drug Bill Sets Up Dems for 2020
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Increasing Number of Americans Delay Medical Care Due to Cost: Gallup
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Medicaid Work Rules Approved for South Carolina
By Michael RaineyThe Trump administration on Thursday approved South Carolina’s request to impose work requirements on Medicaid recipients. Seema Verma, administrator of the Centers for Medicare & Medicaid...
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Buttigieg Calls for Twice as Much in New Taxes and Spending as Biden Does: Report
In his campaign for the Democratic presidential nomination, Pete Buttigieg may be positioning himself as a moderate alternative to Elizabeth Warren and Bernie Sanders, but he still calls for more...
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House Panel Advances Bill to Temporarily Repeal SALT Deduction Cap
House Democrats on the Ways and Means Committee voted Wednesday to advance a temporary repeal of the $10,000 cap on the state and local tax deduction. The bill , which advanced largely along party...
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Warren’s Wealth Tax Would Raise Up to $2.7 Trillion Over 10 Years, but Less Than She Projects: Report
By Michael RaineyA new analysis from the Penn Wharton Budget Model finds that Elizabeth Warren’s proposed wealth tax would raise between $2.3 trillion and $2.7 trillion over 10 years, while reducing GDP in 2050 by...
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The Fiscal Challenge for the Next Recession
The federal budget deficit for fiscal year 2019 was nearly $1 trillion. “In the next downturn, don’t be surprised if this number hits $2 trillion,” writes Nick Timiraos, The Wall Street Journal’s...
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Investors Eye Volatility from ‘Fiscal Dysfunction’
By Michael RaineyReviewing its outlook for 2020, the investment team at New York fund manager Neuberger Berman recently discussed the economic risks associated with “fiscal dysfunction” – the government’s inability...
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Biden: Trump Tax Cuts ‘a Disaster for the Middle Class’
By Michael RaineyJoe Biden has been criticized by his fellow Democrats for insisting that as president he would be able to work with the Republican Party – the same party that rejected much of the Democratic economic...
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After Trump’s Cuts, US Taxes Are Fourth Lowest in the Developed World
By Michael RaineyTotal U.S. taxes as a share of the economy fell to 24.3% last year, thanks in large part to the tax cuts signed into law by President Trump in 2017, the Organization for Economic Cooperation and...
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Biden Unveils $3.2 Trillion Tax Plan Targeting Corporations Like Amazon
Joe Biden rolled out a plan Wednesday to raise $3.2 trillion in additional taxes over 10 years, with the wealthy and corporations paying more to cover the cost of spending proposals on health care,...
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Bad News for Charity on Giving Tuesday
By Michael Rainey“Despite Giving Tuesday and despite all the charitable appeals that almost certainly landed in inboxes, charitable donations by individuals declined by slightly more than 1 percent in 2018, according...
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Elizabeth Warren Says Americans Will Spend $11 Trillion on Health Care. Is That True?
By Michael RaineyElizabeth Warren says that Americans will spend “about $11 trillion on insurance premiums, copays, deductibles and uncovered medical expenses” over the next 10 years if the current health care system...
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Mark Sanford Ends 2020 Presidential Bid Challenging Trump
Former South Carolina Rep. Mark Sanford suspended his longshot presidential bid on Tuesday, 65 days after he announced he would challenge President Trump for the 2020 Republican nomination. A fiscal...
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What Warren’s Wealth Tax Would Do to Billionaires
By Michael RaineyElizabeth Warren says her wealth tax – 2% on household wealth over $50 million, rising to 6% on household wealth over $1 billion – would raise trillions of dollars to pay for new social programs,...
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What Bill Gates Gets Wrong About Wealth Taxes
Elizabeth Warren wasn’t the only one pushing back on Bill Gates’s comments about her wealth tax proposal. The New York Times Editorial Board notes that tax rates were considerably higher when Gates...
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Buttigieg’s $1 Trillion Plan for Free Tuition, Child Care and Housing
By Michael RaineyDemocratic presidential contender Pete Buttigieg released on Friday more than $1 trillion worth of proposals that focus on education, housing and child care. The plans include: $700 billion for pre-K...