Economy News
The Daily Signal reports on economy news with analysis and commentary on growth, recession risks, employment, and financial trends.
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news
Republicans Scramble to Regroup After Budget Bill Setback
Top congressional Republicans are picking up the pieces in the wake of the House Budget Committee’s rejection Friday of leadership’s budget proposals. If one thing’s clear, it’s that leadership will have to seek a compromise with fiscal hard-liners. On Friday, the House Budget Committee voted against advancing the budget package with Republican fiscal hawks—specifically, Reps…. -
news
Why Budget Committee Conservatives Shot Down Part of the ‘Big, Beautiful Bill’
The House Budget Committee voted down the budget reconciliation bill in a blow to leadership’s efforts to pass President Donald Trump’s “big, beautiful bill.” The bill was voted down 16-21 in committee, with Republican fiscal hawks—specifically Reps. Andrew Clyde of Georgia, Chip Roy of Texas, Ralph Norman of South Carolina, and Josh Brecheen of Oklahoma—voting… -
news
Brandon Gill Comes Back From Parenting Newborn to Save Budget Bill
Freshman Rep. Brandon Gill returned from leave with his newborn son Friday to participate in a contentious budget vote that could make or break Republican efforts to pass what President Donald Trump calls the “one big, beautiful” budget bill—aimed at funding his policy priorities and fulfilling a host of campaign promises. As of Friday morning,… -
news
Jeffries Rejects Republicans’ Welfare Reform Proposals
House Democrat leader Rep. Hakeem Jeffries suggested at a Thursday press conference that he would vigorously oppose Republicans' reform proposals for Medicaid and other welfare benefits, with the hope that their budget reconciliation bill fails and the GOP leadership has to seek Democrats’ votes. Jeffries, D-N.Y.—who spoke at a press briefing at the same time… -
news
Johnson Holds Life-or-Death Budget Negotiations
Speaker of the House Mike Johnson met with competing groups of Republican lawmakers Thursday morning on issues that could decide whether or not the GOP’s “big, beautiful” budget bill passes the House. Johnson, R-La., is working at a feverish pace to pass a budget reconciliation bill that would fulfill President Donald Trump’s campaign promises, such… -
news
Kennedy Defends HHS Budget, Staffing Cuts in Face of Democrats’ Criticism
At a hearing before a Senate panel Wednesday, Health and Human Services Secretary Robert F. Kennedy Jr. made the case that he’s running a cost-efficient, yet effective, HHS. “When my team and I took the helm at HHS, we set out with clear goals,” Kennedy said told members of the Senate Health, Education, Labor and… -
opinion
Why the House’s New Education Plan is a Win for Students and Taxpayers
In response to a directive to cut $330 billion in mandatory federal education spending over the next decade, the House Education and Workforce Committee has proposed a reconciliation package projected to save taxpayers approximately $350 billion—surpassing the target by $20 billion. This part of the reconciliation bill, passed at the end of April, now moves… -
opinion
Reforms in Corporate Governance Could Boost Appeal of US Stocks, Economy
President Donald Trump’s America First Investment Policy touts that welcoming foreign investment and strengthening the United States’ “world-leading private and public capital markets will be a key part of America’s Golden Age.” Of the $124 trillion market capitalization of the global stock market, U.S. stocks account for 49%, and international investors own 17% of those U.S…. -
opinion
A Way to Unshackle American Businesses and Boost the Economy
In recent comments marking the first 100 days of his second term, President Donald Trump stated that his attention will next focus on efforts to reach a “big, beautiful new deal” in Congress to enact significant reductions in federal taxes and regulations. The president’s commitment is good news for all of us. Federal taxes impose… -
news
SALT in Speaker’s Wounds: Budget Bill Threatened by NY Republicans
House Speaker Mike Johnson is being pressured on multiple fronts in his efforts to pass a budget reconciliation bill by Independence Day. Not only is he being pressed by fiscal hawks to make deep spending cuts to cover tax breaks, but he’s also being threatened by blue-state Republicans demanding higher tax deductions to offset their… -
news
Transportation Secretary Unveils Overhaul of ‘Antiquated’ Air Traffic Control Systems
Transportation Secretary Sean Duffy announced a massive overhaul of the United States’ antiquated air traffic control system to modernize operations and reduce delays and inefficiencies. “This proposal seeks to transform the United States’ air traffic control system from its antiquated system to a modern system capable of meeting the demands of today and the future,”… -
news
Voters Want Balanced Budget and Low Taxes, Poll Finds
Most Americans want to balance the budget and keep taxes low, a new poll suggests. According to a Napolitan News Service survey—organized by noted pollster Scott Rasmussen—31% of registered voters would “strongly favor” a proposal to balance the federal budget in 10 years, while 39% “somewhat favor” it. Taken together, that's a 70% supermajority. That… -
news
House Budget Bill Includes ‘Most Significant Regulatory Reform Ever,’ Ted Cruz Says
The House Judiciary Committee advanced its portion of the massive budget bill last week, and the legislation includes a provision that would be the “most significant regulatory reform ever,” according to Sen. Ted Cruz, R-Texas. The Regulations from the Executive in Need of Scrutiny Act, which Rep. Todd Young, R-Ind., and Sen. Rand Paul, R-Ky.,… -
news
Harvard by the Numbers: How University Will Fare Without Taxpayer Subsidies
Losing federal funding will hit more than two-thirds of Harvard University’s research grants, but the vaunted Ivy League institution won’t be financially strapped in other areas. The university has $70.6 billion in total assets, and most of its more than $6.2 billion in annual expenses goes to salaries and benefits, according to its financial report… -
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Trump Administration Begins Dismantling Department of Education With $10.8B Budget Cuts
President Donald Trump’s 2026 budget proposal would increase border security funding by 65%, marking the largest investment in homeland security in history, a senior White House official said. The White House unveiled its $1.7 trillion budget for the 2026 fiscal year, proposing about $163 billion in cuts to domestic programs, as well as a 13%… -
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Small Business Administration Chief Details Trump’s Carrot-And-Stick Economic Policies
At a Capitol Hill press conference Thursday, Kelly Loeffler, director of the Small Business Administration, laid out President Donald Trump’s carrot-and-stick strategy for returning manufacturing to the United States. Loeffler joined Sen. Joni Ernst, R-Iowa, and Rep. Roger Williams, R-Texas, to promote the Made in America Act, which would increase to $10 million the limit… -
news
OPM Moves to End Grade Inflation for Top-Level Bureaucrats
The Office of Personnel Management announced a proposed rule Thursday morning to stop including diversity, equity, and inclusion metrics and end grade inflation on senior bureaucrats’ performance evaluations. The proposed rule aims to reform the Senior Executive Service performance appraisal system. For several years, more than 96% of bureaucrats in the SES, top-level agency employees… -
news
EXCLUSIVE: Trump’s Transportation Department Cut $9.5B of Waste in 100 Days
FIRST ON THE DAILY SIGNAL—Secretary Sean Duffy is celebrating 100 days of prioritizing safety and efficiency at the Department of Transportation. “The Department of Transportation is focused on its core mission of safety and efficiency,” Duffy said in a statement shared with The Daily Signal. “Under this administration, America is building again—forging a future with… -
news
Hill GOP Budget Leaders in ‘Lockstep,’ Treasury Chief Bessent Says
“The House is moving things along quickly, and the Senate is in lockstep,” Treasury Secretary Scott Bessent told reporters Monday, in reference to the Republican budget reconciliation bill that is being ushered through Congress. The message of unity comes after the treasury secretary met with the top four Republican congressional leaders in the budget reconciliation… -
news
Newsom Touts Calif. as World’s 4th-Largest Economy on Paper as Real Jobs Fall
THE CENTER SQUARE—California Gov. Gavin Newsom says the state is now the world’s fourth largest economy. But after accounting for the high cost of goods and services, California only barely edges out low-performing Italy, with the state’s continued losses in private sector jobs amid falling corporate and sales tax revenue painting a darker picture of the Golden…