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
Inflation Reduction Act Causes Higher Premiums on Seniors
If there were ever a modern-day equivalent to the Trojan horse, it would be former President Joe Biden’s absurdly named Inflation Reduction Act. As the name suggests, the bill was sold as a measure to reduce inflation. Yet once passed and embedded in the heart of our fiscal system, it revealed itself to be a… -
news
EXCLUSIVE: Conservative Watchdog Debunks Argument Defunding Planned Parenthood Hurts Taxpayers
Pro-lifers continue to urge the Department of Government Efficiency to defund Planned Parenthood, but they aren't putting all their eggs in Elon Musk's basket. As pro-life groups fight for a provision in the budget reconciliation package to remove federal funding from Planned Parenthood, conservatives warn against allowing pro-abortion misinformation to derail efforts to defund the… -
opinion
The One Way to Improve the Economy Without Raising Inflation or Debt
The Trump administration is doubling down on deregulation: Where the previous Trump administration removed five regulations for every new one, the target is now 10. Our research shows that cutting regulations will increase gross domestic product, expand investment, and cut inflation without raising taxes. We used RegData 5.0, a text-based database that tracks regulatory intensity… -
news
Rubio Slashes Nearly $60 Billion in Wasteful Spending From State, USAID
The Trump administration has saved taxpayers nearly $60 billion since it took office just over a month ago by eliminating programs in the State Department and the U.S. Agency for International Development alone. A senior State Department official told The Daily Signal that “in just a few weeks, [Secretary of State Marco] Rubio has identified… -
opinion
DOGE vs. Economic Disaster
The Department of Government Efficiency is much in the news these days, with many of the stories focusing on federal employee layoffs and their impact on the individuals involved. While no one likes to see people lose their jobs, the mainstream media seems to view the misfortune of others as a way to advance its… -
news
House Republicans Pass Major Budget Hurdle
House Republicans passed a budget resolution on a party-line vote of 217-215 Tuesday night, clearing a major hurdle on the way to funding President Donald Trump’s “Make America Great Again” agenda. Rep. Thomas Massie, R-Ky., was the only Republican to oppose the bill, as he argued that it did not address the national debt. President… -
news
‘No Tax Dollars for Terrorists Act’ Aims to End Foreign Aid to Taliban, Others
Rep. Tim Burchett, R-Tenn., has introduced legislation to prevent taxpayer dollars and foreign aid funding from going to terrorist groups. Walking up to a microphone outside the Capitol to speak about his bill, Burchett was accompanied by Republican Reps. Marjorie Taylor Greene of Georgia, Lauren Boebert of Colorado, Eli Crane of Arizona, and Ralph Norman… -
news
House Republicans Close in on Budget Agreement
The House of Representatives is set to vote Tuesday evening on a budget resolution that aims to pass much of President Donald Trump’s agenda. The resolution is set to extend the 2017 Trump tax cuts, coupled with $300 billion for border and defense spending. It would also raise the federal debt ceiling by $4 trillion. … -
news
Senate GOP Not Backing Down From Budget Proposal Fearing Funds for Trump’s Border Security Agenda Could Run Dry
DAILY CALLER NEWS FOUNDATION—Senate Republicans are plowing ahead with their budget proposal despite President Donald Trump throwing his weight behind the House version, arguing their plan will allow federal immigration authorities to execute the president’s border security agenda with full force. As Trump moves to secure the border following his predecessor’s failure to stem the… -
news
Trump’s Pro-Union Labor Secretary Pick Draws Scrutiny From Senators of Both Parties
Senators from both parties had tough questions Wednesday for Lori Chavez-DeRemer, President Donald Trump’s nominee for labor secretary, who breaks the traditional GOP mold in her support of unions. Chavez-DeRemer, a former Republican congresswoman from Oregon who represents Trump’s efforts to woo union members, came under fire from Republicans concerned about her previous policies on… -
news
Numerous Reports Show Immigration Crisis Sapping US Economy
Over the past several years, the illegal immigration crisis the U.S. has been grappling with has significantly impacted the nation’s economy, both in terms of government spending and the national workforce. According to watchdog organization Open the Books, the U.S. Department of Health and Human Services and its Office of Refugee Resettlement spent nearly $23 billion… -
news
House Republicans Agree on Budget Resolution With Tax Cuts, Spending Reductions
House Republicans on Thursday approved a budget resolution that aims to fulfill much of President Donald Trump’s MAGA agenda. Fiscal hawks in the House of Representatives have been warning repeatedly that any budget bills need to show reform through spending cuts if they are to win their support. On Thursday, they successfully negotiated $1.5 trillion… -
opinion
Here’s Why a Judge Can’t Block Trump’s Pause on Spending
Shortly after taking office, President Donald Trump, quite sensibly, paused some federal spending programs to see whether they are lawful and advance America’s interests, which he had promised voters he would do. That temporary delay, however, set off a firestorm among the liberal states and organizations that, as recent disclosures have revealed, have benefited immensely… -
news
Speaker Johnson Addresses Budget Questions: ‘Take a Deep Sigh of Relief’
The House Republican leadership is still working on ironing out differences between members surrounding the budget reconciliation process as Speaker Mike Johnson, R-La., gave an update Tuesday that he expected progress to be made this week. The budget reconciliation process is an important tool to ensure that President Donald Trump has the funding and support… -
news
Heritage Experts React to Sen. Lindsey Graham’s Budget Resolution
On Friday, Sen. Lindsey Graham, R-S.C., released the Senate Budget Committee’s budget resolution for fiscal year 2025, which is anticipated to be the source of getting much of the MAGA agenda through Congress. Heritage Foundation experts analyzed the text and made suggestions. “To those who voted for and support real border security and a stronger… -
opinion
Taxpayer-Subsidized College Tuition for Illegal Aliens—but Not for Citizens
Did you know that 25 states offer in-state college tuition to illegal aliens? Probably not. And did you know that there is a federal statute that prohibits states from offering in-state tuition to illegal aliens unless a state offers the same tuition break to students from other states? Didn’t think so. One of the… -
news
Russ Vought Survives Democrats’ Protests, Confirmed to Lead Budget Office
Russell Vought, President Donald Trump’s nominee to lead the Office of Management and Budget, was confirmed by the Senate Thursday night on party lines by a margin of 53-47, as Democrat senators broke decorum by protesting against his confirmation as their names were called. Almost every Democrat yelled in protest as the vote was called,… -
opinion
Ending the Taxpayer-Funded Blue Pipeline
This week, a massive firefight broke out between Democrats and Team Trump over the White House takeover of the U.S. Agency for International Development. The USAID managed approximately $40 billion in fiscal year 2023; its original mandate, established under the Foreign Assistance Act of 1961, was to spread American influence across the globe through aid… -
news
By the Numbers: Sen. Ron Johnson Outlines Balanced Budget Proposal
Returning to a balanced budget is feasible if the United States would return to pre-COVID-19-era spending levels, said Sen. Ron Johnson, R-Wis., a member of the Senate Budget Committee. He cited spending levels under President Bill Clinton and has said the rate of increase should be based on population and the rate of inflation, barring… -
opinion
Trump’s Spending Freeze Will Block Biden’s Leftist Legacy
Amid all the uproar over President Donald Trump’s spending freeze—now delayed by a judge appointed by President Joe Biden—there’s some critical context missing. On Monday, the Office of Management and Budget sent a memo to federal agencies calling for a temporary pause on spending for grants, loans, and financial assistance. (On Tuesday, U.S. District Judge…