Economy News
The Daily Signal reports on economy news with analysis and commentary on growth, recession risks, employment, and financial trends.
-
news
Tillis ‘Loved’ Kevin Warsh’s Fed Philosophy, But Maintains ‘No’ Vote
Sen. Thom Tillis praised President Donald Trump’s nominee for Federal Reserve chair, Kevin Warsh, but he maintained that he will not support Warsh as long as Trump is investigating current chair Jerome Powell. “I look forward to supporting your nomination, and I look forward to this investigation being taken down,” the North Carolina Republican told… -
news
Labor Secretary Out, Replacement Named
Lori Chavez-DeRemer has resigned as labor secretary, White House communications director Steven Cheung announced on X. “She will be leaving the Administration to take a position in the private sector,” Cheung said on Monday. “She has done a phenomenal job in her role by protecting American workers, enacting fair labor practices, and helping Americans gain… -
opinion
High Schoolers Need Economics, Not Just ‘Financial Literacy’
April is National Financial Literacy Month, when the federal government and many states encourage citizens to become more financially literate. Unfortunately, many today lack a basic knowledge of economics, to our nation’s detriment. Across the country, states are starting to mandate that students take a personal finance course to graduate high school, often in place of economics courses. In 2022,… -
news
How Taxes Affect Ohioans on April 15 and Beyond
This year, the Trump White House had plenty of benefits to tout for Americans on Tax Day, namely through the Working Families Tax Cuts from last July. For Ohioans, the issue goes beyond April 15, with the potential to affect closely watched races for the midterms. How Did Ohioans Benefit? The average tax refund is… -
opinion
Mamdani’s ‘Free’ Grocery Stores Will Charge New Yorkers Twice Over
New York City Mayor Zohran Mamdani intends to keep one of his most controversial campaign promises: city-owned grocery stores. In his 100-day address on Sunday, he announced the city’s first socialist supermarket will be up and running in East Harlem in 2027. The only thing slower than Mamdani opening the store next year will be… -
opinion
Will an Alaskan Tax Hike Make the Oil Crisis Worse?
As Americans grapple with painful prices at the pump amidst a global oil crisis, some Alaskan lawmakers seem intent on making that pain even worse. The 49th state is debating a tax increase on certain oil and gas companies, a measure that will make energy even more expensive and chill investment. The state Senate shoehorned… -
news
‘We’ll Get Back on Track’: White House Addresses Falling Small Business Optimism Amid Iran War
Small Business Administration Administrator Kelly Loeffler is optimistic that the economic sentiment for small businesses will return to pre-Iran war levels soon amid a downturn. “One data point does not a trend make. And the long-term trend under President [Donald] Trump has been for small business optimism to be above its 52-year average under Joe… -
news
Americans See Employment and Earning Retention Gains Thanks to Working Family Tax Cuts
Members of Congress are pointing to rising wages and private-sector job growth as evidence that the Working Families Tax Cuts Act is delivering results for American workers and businesses. The law, signed by President Donald Trump on July 4, 2025, reduced taxes on tips, overtime pay, and certain retirement benefits, while expanding the child tax… -
news
GOP Looks to Expand Tax Relief, ‘Even Better’ Than ‘One Big, Beautiful Bill’
The GOP is keeping tax policy in the headlines with a successful Tax Day, as Americans can expect an average $3,000 refund. Members are now looking ahead to how they can continue to be the party of “working Americans.” During a press call about President Donald Trump’s One Big Beautiful Bill Act—now commonly referred to as the… -
news
Code Pink Should Lose Tax-Exempt Status for 3 Key Reasons, Watchdog Group Tells IRS
FIRST ON THE DAILY SIGNAL—The leftist activist group Code Pink should lose its tax-exempt status for engaging in potentially illegal activity, violating tax rules against engaging in prohibited political activity and excess lobbying activity, and for supporting the interests of China without properly registering with the Department of Justice, a conservative group said in a… -
news
EXCLUSIVE: Consumer Group Wants Insurers Investigated for ‘Woke’ Policies
FIRST ON THE DAILY SIGNAL—A consumer advocacy organization is asking the House Oversight Committee to examine whether major insurance companies are allowing wokeness to shape business decisions. Consumers’ Research President Will Hild wrote a letter to Chairman James Comer, R-Ky., claiming that large insurers are “leveraging their market power, corporate governance practices, and public-facing programs to… -
opinion
A Promise Kept: Delivering Real Relief to Hardworking Kansans
Today, as tax season closes for my state of Kansans, we are reminded of the importance of the Working Families Tax Cuts, passed by Republicans and President Donald Trump to put money back in the pockets of hardworking families across the state and the nation. This legislation secures real, historic wins for communities across America,… -
news
Real Wage Growth and Bigger Refunds: GOP Touts ‘One Big, Beautiful Bill’ on Tax Day
President Donald Trump and Republicans are hoping to cash in politically on the extra amount of cash in Americans’ wallets this Tax Day. Across the country, Americans are cashing in on the One Big Beautiful Bill Act’s tax provisions and receiving a boost from real wage growth in the Trump economy. “This tax season, nearly… -
opinion
This Tax Day, Americans Are Finally Getting a Break
Historically, tax season has never been easy for working Americans. It’s typically marked by days or weeks spent digging through stacks of receipts, invoices, 1099s, and W-2s. It’s the undue stress of figuring out how to file or whom to hire for help. And it is uncertainty in not knowing if you’ll owe money—or how… -
news
‘DoorDash Grandma’ Tells Trump How Much His Tax Policies Saved Her This Year
When Sharon Simmons delivered McDonald’s to President Donald Trump in the Oval Office on Monday, she shared that his tax policy has saved her about half her income. Trump’s “One Big, Beautiful Bill,” passed and signed into law last year, established a tax deduction of up to $25,000 for tips. Simmons, a grandmother of 10… -
opinion
Why Americans Are Getting Larger Refunds This Tax Season
Each spring, tax refunds illuminate how federal policy interacts with household finances. This tax season, Americans are experiencing larger returns compared to prior years—and not because there are more filers, but because legislation passed by the Trump administration last summer is finally bearing fruit. Internal Revenue Service data for Week Nine of the 2026 filing… -
opinion
Tax the Rich?
“Tax the rich!” shout progressives. Why not? America’s richest people are ridiculously rich. “Five bucks to you is like $6 million to billionaire Jeff Bezos!” shrieks Sen. Elizabeth Warren, D-Mass. Taking more from billionaires and millionaires just seems fair. That’s why Washington state passed a new “millionaire’s tax,” California will soon vote on a “billionaire’s… -
opinion
Spanberger’s Problem Isn’t Affordability. It’s Believability
Virginia Gov. Abigail Spanberger is struggling to explain how her popularity has collapsed just months into her administration. At a press briefing designed to look like a happenstance meeting with reporters on the sidewalk outside of the governor’s mansion in Richmond, Spanberger addressed a Washington Post/Schar poll that showed her losing 11% of her approval… -
opinion
Argentina Is Booming—Capitalism Remains Undefeated
In 2023, over 100 leading economists from around the world, including progressive darling Thomas Piketty, signed a letter warning that “far-right” Argentine presidential candidate Javier Milei’s policies, which were “rooted in laissez-faire economics,” would cause “devastation,” spike inflation, expand poverty, and worsen unemployment. Celebrated economists never penned any open letters warning that the preceding Peronists’… -
news
EXCLUSIVE: Senator Urges Trump to End Program That Gives US Jobs to Foreign Graduates
FIRST ON THE DAILY SIGNAL—Sen. Rick Scott is urging the White House to end the Optional Practical Training work permit program, which incentivizes employers to give jobs to foreign students. “The OPT program should not exist; it is a purely regulatory creation with no statutory basis,” the Florida Republican wrote in a letter obtained by…