Senate Majority Leader Chuck Schumer (D-N.Y.) admitted on the Senate floor Friday that President Joe Biden does not expect his Build Back Better (BBB) social spending bill to pass before January amid continued reticence by moderate Sen. Joe Manchin (D-W.Va.). Speaking about the future of the $1.85 trillion package, Schumer said, “The president requested more…
Deep Dive (Dec. 16): Sen. Graham on Biden’s Build Back Better Bill
Americans will likely see rate hikes in the new year as the Federal Reserve fights against inflation. The Federal Open Market Committee (FOMC) said in a statement, “In light of inflation developments and the further improvement in the labor market, the Committee decided to reduce the monthly pace of its net asset purchases by $20…
The Greatest Financial Swindle of All Time
Commentary One of the most popular provisions of the 1994 Contract with America was a rule requiring Congress to live by the same laws that families and businesses are subject to. So, why doesn’t Congress live by the financial and accounting standards required of the rest of us? I’m speaking of the multitrillion-dollar Build Back…
CBO Estimates Build Back Better Bill With No Sunsets Would Add $3 Trillion to Deficit
The Congressional Budget Office (CBO) has released an estimate of what it would cost to make most temporary provisions in the House-passed Build Back Better Act permanent, projecting it would add trillions to the deficit and sparking a fresh wave of Republican criticism of the Democrats’ social and climate spending bill. Responding to a Republican…
Manchin Restates Opposition to Biden Spending Bill Over Concerns of Inflation
Sen. Joe Manchin (D-W.Va.) has doubled down on his fears that President Joe Biden’s $1.85 trillion Build Back Better Act (BBB) will worsen already skyrocketing inflation, signaling that the senator is still on the fence about the House-passed spending bill. Currently, inflation of the U.S. dollar is at its highest level in nearly four decades….
Sen. Scott Says ‘Unbelievable’ Inflation and Debt Now Biggest Concern
Sen. Rick Scott (R-Fla.) told CNBC’s “Squawk Box” in an interview Monday that “unbelievable” levels of inflation and debt are now his chief concern, with the Florida Republican’s remarks coming a day after a new poll showed 69 percent of Americans disapprove of President Joe Biden’s handling of inflation. “My biggest concern is this unbelievable inflation…
Sen. Scott Says ‘Unbelievable’ Inflation, Debt Now Biggest Concerns
Sen. Rick Scott (R-Fla.) says “unbelievable” levels of inflation and debt are now his chief concern, with the Florida Republican’s remarks coming a day after a new poll shows that 69 percent of Americans disapprove of President Joe Biden’s handling of inflation. “My biggest concern is this unbelievable inflation and this unbelievable debt. There is…
Making Companies ‘Pay Their Fair Share’
Commentary Dozens of big corporations, including Nike and FedEx, have paid no federal income taxes for years, which is prompting Democrats to introduce a minimum tax on earnings. While the concept is alluring to many, tax policy experts are increasingly warning of the undesirable outcomes of the proposal. President Joe Biden’s nearly $2 trillion social and…
Sen. Manchin Still Unsure About Biden Spending Bill
Sen. Joe Manchin (D-W.Va.) says he is still not committed to voting for President Joe Biden’s $1.85 trillion social spending bill after months of negotiations and compromises meant to get the West Virginia Democrat on board with the plan, a troublesome sign for the bill’s prospects as the 2022 midterms draw nearer. Manchin discussed the…
Canada Lobbies US Senators Ahead of Vote on Key Spending Bill
News Analysis Canada’s Trade Minister Mary Ng made a diplomatic push in Washington last week, meeting with U.S. senators ahead of their vote on a piece of legislation that is dividing Americans and could considerably impact Canada’s auto sector. The delegation of opposition MPs, Canadian consuls from across the United States, and business and labour…
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