Economic Policy News

Last Wednesday, House leadership released a 2,232-page omnibus spending bill that keeps the federal government open through October. This bill was negotiated completely behind closed doors by just four people: House Speaker Paul Ryan, House Minority Leader Nancy Pelosi, Senate Majority Leader Mitch McConnell, and Senate Minority Leader Chuck Schumer. These four people wrote a…

There have been three periods of unified Republican control of the federal government since World War II. We are living in the third. Our country is built on separation of powers, and our people generally favor divided government. When Americans gave us control of the House, the Senate, and the presidency, their message was clear:…

The Heritage Foundation’s Steve Moore joins us today to talk about the announcement that his friend Larry Kudlow, who worked in the Reagan administration and on CNBC, will become director of the National Economic Council. Moore and Kudlow served together on the Trump campaign, and Moore shares what he thinks President Donald Trump and Kudlow…

Brazil’s performance in the 2018 edition of The Heritage Foundation’s Index of Economic Freedom confirms yet again that South America’s biggest country remains burdened by too much government spending, corruption, and regulatory inefficiency. Historically, a significant reason for Brazil’s lackluster track record on economic freedom has been its weak rule of law. Last month, however, a…

Some point to the deficit as a reason to raise taxes. But new research shows that spending cuts are superior to tax hikes when it comes to reducing the deficit. This should embolden lawmakers to pursue spending reductions in this year’s budget resolution, giving particular focus to reducing entitlement spending—a key driver of debt. Following…

The Heritage Foundation’s 2018 Index of Economic Freedom—an annual global study that compares countries’ entrepreneurial environments—was released earlier this month. Since 1995, the index has measured a nation’s commitment to limited government and free enterprise on a scale of 0 to 100 by evaluating four critical policy pillars, including rule of law and regulatory efficiency….

The Bipartisan Budget Act of 2018 raised the defense budget caps for both 2018 and 2019. For the coming year, the defense budget will be $647 billion, excluding war funds. The National Defense Authorization Act for fiscal year 2019 will determine how these resources are to be spent and provides a chance to continue reversing…

The Bipartisan Budget Act of 2018 signed into law last week really should be renamed the Bipartisan Budget Crash Act. This spending spree takes a Mack Truck and rams through the hard-fought budget caps under the 2011 Budget Control Act to the tune of at least $300 billion. When all is said and done, the…

The U.S. fiscal outlook is dire, but don’t blame it on tax reform. President Donald Trump’s budget demonstrates that the GOP-passed tax cuts are entirely sustainable—it’s the spending that’s the problem. It is worth remembering where we were before tax reform. Without the Tax Cuts and Jobs Act, government scorekeepers projected that the government would…

Last week, Congress passed a continuing resolution that will keep the federal government funded through March 23. This is the fifth continuing resolution of the fiscal year—a sixth may be needed before March 23, since both parties have agreed to begin debate on an immigration bill this week. But as bad as the decision to…

Hundreds of millions of people around the world are experiencing a “Great Escape” from poverty, and increasing economic freedom around the globe is the reason, according to the recently published 2018 Index of Economic Freedom. The Index of Economic Freedom, a publication of The Heritage Foundation, which, for two decades, has analyzed economic policies in…