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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opinion
In Win for Franchises, Judge Voids Biden Admin NLRB Joint Employer Rule
A federal district court announced that it will vacate the so-called joint employer rule that threatened to upend the franchise business model and to impose massive new responsibilities and legal liabilities onto businesses for supposed employees over whom they have no direct control. U.S. District Court Judge J. Campbell Barker’s decision Friday held that enforcement of… -
opinion
A Lesson for America: Green Policies Crush German Economy
Germany’s gross domestic product has been falling since the third quarter of 2022, causing fears of the first 2-yearlong recession since the early 2000s. German farmers are openly protesting new climate regulations that would raise the price of diesel fuel, vital for tractors and farm machinery. This discontent is mirrored by the general public, which… -
news
Taxpayers to Pay $3M for Mayorkas Impeachment Defense
The Department of Homeland Security so far has spent $3 million of taxpayer money to defend embattled Secretary Alejandro Mayorkas against impeachment by the House of Representatives, according to documents obtained by The Heritage Foundation’s Oversight Project. The DHS contract with a law firm was to cover the cost of a failed attempt to stave… -
news
Feds Shell Out Thousands on Computer Lessons for LGBTQ Refugees, Fostering ‘Economic Inclusion’ in Latin America
The federal government has used taxpayer dollars to fund services for LGBTQ refugees in Latin America over the past couple of years, federal grants show. The State Department and the Inter-American Foundation, an independent federal agency, funded a trio of grants between August 2021 and October 2023 aimed at bolstering Costa Rica’s status as a haven for… -
opinion
Taxation Without Reason
My income tax is due in a few weeks! I hate it. I’m pretty good at math, but I no longer prepare my own taxes. The form alone scares me. I feel I have to hire an accountant because Congress, endlessly sucking up to various interest groups, keeps adding to a tax code. Now even… -
opinion
Economic Freedom in US Falls to Lowest Level in 30 Years in 2024 Global Index
The foundations of economic freedom have been declining around the world for three consecutive years, according to the 2024 Index of Economic Freedom, which annually assesses the economic governance and entrepreneurial environments of 184 countries. Despite the disappointing downward trend of global economic freedom, the overall findings of the 2024 index, released Monday by The… -
opinion
How All Americans Are Paying for San Francisco’s Pork-Barrel Spending
Washington is once again facing a potential shutdown. Funding for the federal government will run out in early March unless the House and Senate can bridge their differences and pass spending legislation. At the same time, the city of San Francisco seems to have few problems doling out huge amounts to well-connected activist groups and… -
opinion
Biden’s Low Marks on Economy Reflect Reality
For all the White House’s bragging about the strength of the economy, most Americans still don’t approve of President Joe Biden’s performance on this issue. That’s likely because they have been left behind, especially native-born Americans. This is perhaps most evident in figures from the Labor Department’s Bureau of Labor Statistics. If one looks only at the… -
opinion
Mountain of Expenses: Denver’s Fiscal Woes Climb as Illegal Aliens Overwhelm City
Denver is buckling under a financial crisis caused by illegal immigration. But the fault lies not in the stars, but with the city itself. “Denver will cut hours at recreation centers, end in-person vehicle-registration renewals and eliminate spring flower beds to save $5 million this year, a response to the migrant crisis that is expected… -
opinion
Understated by Feds, Through-the-Roof Housing Inflation Is Crushing Would-Be Homeowners
Business headlines say that inflation is down, yet countless Americans are struggling, particularly with finding somewhere affordable to live. How do we reconcile these seemingly contradictory notions? First, lower inflation means prices are rising slower, but still rising. Second, housing inflation is being undercounted by official government metrics as much as 4-to-1. The consumer price… -
news
San Francisco Spent Massive Amount of Taxpayer Dollars to House Homeless During Pandemic
San Francisco wants federal taxpayers to help cover the more than $423 million it spent housing approximately 5,000 homeless people in hotels and other “non-congregate” facilities during the COVID-19 pandemic. The total cost per homeless person housed by San Francisco during the pandemic was $84,600, according to data reported by the San Francisco Chronicle. San Francisco city… -
opinion
With Bipartisan Measure, Congress Could Expand Successful ‘One Door’ Policy on Welfare, Workforce
The federal government has more than 90 welfare and workforce programs spread across dozens of federal agencies, with funding flowing to thousands of state and local agencies and programs. Navigating the web of welfare and workforce assistance can be a nightmare. And, too often, Americans end up trapped in the welfare web instead of being assisted… -
opinion
Arizona’s Proposed Reversal in School Choice Would Hurt Taxpayers, Not Just Students and Their Families
Three decades ago, Arizona policymakers created opportunities for educators to start new schools and for families to choose between them. Unfortunately, though, the state’s current governor aims to sharply reverse Arizona’s embrace of educational choice. Gov. Katie Hobbs, a Democrat, has called for the repeal of two programs: scholarship tax credits and education savings accounts. But… -
news
Number of New Government Jobs Spikes to New Record as Federal Debt Soars
The U.S. set a new record in January for the total number of Americans employed by the government, according to data from the Bureau of Labor Statistics. The government added 36,000 new employees in January, with 11,000 in the federal government and 19,000 in local government (excluding education), and now totaling 23,091,000, according to the bureau. January’s… -
opinion
Tax and Welfare Bill Reveals Washington’s Chronic Debt Delusion
Among the major pieces of legislation up for grabs in Congress is the inappropriately named “Tax Relief for American Families and Workers Act,” which the powerful House Ways and Means Committee passed Jan. 19 with bipartisan support. The bill could receive a House floor vote as soon as this week, although there is considerable debate… -
opinion
America’s Families Would Be Slammed by House Panel’s Expansion of Welfare
A major feature of the House Ways and Means Committee’s “tax bill” is an expansion of the child tax credit. This expansion was necessary to secure Democrats’ support for the corporate tax provisions in the bill, but the trade isn’t worth the cost. The welfare-related child tax credit provisions aren’t a minor extension of the… -
opinion
If You Ran Your Family Budget Like the Government, You’d Be Broke: ‘Tax Cut’ Edition
The bipartisan Tax Relief for American Families and Workers Act might sound good on the surface. A closer look, however, reveals that the legislation is gimmicky, fiscally irresponsible, and misses a chance to fix work requirements for welfare. And its business tax cuts include retroactive relief alongside pro-growth tax cuts. To understand the gimmicky nature… -
opinion
A Tax Policy Trojan Horse for Welfare Expansion and Inflationary Deficits
If you think congressional deadlocks are concerning, just wait until you see what Congress does when it’s in a blinding rush. The House Ways and Means Committee is ready to go from introducing its latest tax bill to House passage in under a week and a half. Though branded as full of middle-class tax cuts… -
opinion
New Biden Labor Dept. Rule Likely to Hurt Millions of Small Businesses, Independent Contractors
Some 99% of American companies are small businesses, and 100% of businesses started out small, but a recently finalized rule from the Biden administration’s Labor Department will make it harder for small businesses to start, grow and succeed. As of last May 1, a White House news release pointed out, “Young firms, which often start… -
news
Mike Johnson Says He Won’t Back Out of Spending Deal Despite Freedom Caucus Opposition
House Speaker Mike Johnson said Friday he will not withdraw from a controversial spending deal to avoid a government shutdown that is opposed by several members of his conference. Johnson, on Sunday, announced a deal with other congressional party leaders on a spending package of $1.59 trillion for fiscal year 2024, which has been attacked by members…