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Policy · 117th Congress

OMB: Deficits, growth lower in the near term, inflation up

when the Biden administration released its fiscal 2023 budget request, the Office of Management and Budget in a report issued Tuesday sees the deficit for the current fiscal year dropping to just over $1

Policy · 117th Congress

Fauci to step down in December

The COVID-19 pandemic turned Fauci into a politically polarizing figure as the virus shut down the world and upended normal daily life, claiming more than 1 million lives.

Congress · 117th Congress

Biden signs major climate, health care and tax bill into law

The package is estimated to cut the federal deficit by about $300 billion over the next decade, thanks to revenue raisers that include a 15 percent minimum tax on the largest corporations, a 1 percent

Congress · 117th Congress

Budget bill clears as Democrats seek to head off midterm losses

Combined with last year’s bipartisan infrastructure law that represents the other pillar of Biden’s “Build Back Better” agenda, Democrats will have delivered on roughly $1 trillion out of the $4

Congress · 117th Congress

Thune breaks through Democratic bloc on ‘vote-a-rama’ amendments

James Lankford, R-Okla., offered an amendment to provide $1 million for the Centers for Disease Control and Prevention to continue to implement Title 42 until 120 days after the termination of the COVID

Congress · 117th Congress

Sweeping budget package passes Senate; House on deck Friday

[Sinema ready to advance budget bill after tax changes] The new taxes that made it into the Senate’s final bill are a 1 percent tax on what public companies spend on stock buybacks and a 15

Policy · 117th Congress

Democrats line up behind budget bill while GOP pledges ‘hell’

Substitute tax  To make up for the lost revenue from the corporate minimum tax exemptions and dropping the carried interest provision, Democrats added a 1 percent excise tax on stock buybacks, which

Congress · 117th Congress

Sinema ready to advance budget bill after tax changes

To make up for the lost revenue, Democrats have agreed to add a 1 percent excise tax on stock buybacks, according to two people familiar with the agreement.

Policy · 117th Congress

Changes mulled to sweeping budget package as debate nears

Separately, CNN reported that Sinema has sent signals to the business community that she may want to pare back a 15 percent corporate minimum tax on businesses that report $1 billion or more in income

Congress · 117th Congress

Leahy to return in time for expected budget vote

Leahy will return to the Senate the week of Aug. 1 after recovering from hip surgery and will be available to vote on the revamped budget reconciliation package, his office announced Friday.

Congress · 117th Congress

‘Chips and science’ bill on way to Biden’s desk

One of the big concessions to the House that senators did acknowledge was the authorization of a $1 billion pilot program for the Commerce Department to provide grants to help persistently distressed

Congress · 117th Congress

Semiconductor, science bill passes Senate, heads to House

The $11 billion Commerce Department authorization, all of which is on top of baseline funding, includes $10 billion for regional technology hubs and $1 billion for a pilot program to provide economic