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
Ohio Cracks Down on CDLs for Foreign-Born Drivers
Amid federal scrutiny and concerns about commercial driver’s licenses being in the hands of unqualified drivers, Ohio is cracking down on CDLs for those drivers not born in the United States. The CDLs of 1,200 foreign-born drivers will be downgraded to a Class D by the state for failing to adequately meet standards proving they… -
opinion
SNAP’s Updated Work Requirements: A Needed Makeover for Upward Mobility
The Supplemental Nutrition Assistance Program’s new work requirements are now on display across all states as of June 1. California, the country’s last holdout, began implementing the updated work requirements set forth in the One Big Beautiful Bill Act passed last July. The work requirements were rolled out in waves across the country. Some politicians on the left and several media outlets claim the work requirements are harmful. New York City Mayor Zohran Mamdani is among those sounding the alarm, with a recent X post stating: “Food stamp work requirements don’t create jobs, they create… -
news
Sen. Kennedy Predicts Schumer Shutdown Before Midterms
While campaigning in New Hampshire for U.S. Senate candidate John Sununu, Sen. John Kennedy, R-La., said he expects another federal government shutdown in September, in order to give Democrats an advantage in the November midterm elections. Kennedy told reporters that Senate Minority Leader Chuck Schumer, D-N.Y., could use the approaching expiration of the Consolidated Appropriations… -
news
NFL Subscriptions Stir Controversy
The National Football League has privatized much of its viewership, which is drawing criticism from leading lawmakers, such as Republican Sen. Mike Lee of Utah, and President Donald Trump. The controversy comes as NFL fans are now expected to spend up to $1,000 across roughly 10 different subscriptions if they wish to have access to… -
opinion
‘Affordability’? Virginia Drives Gun Manufacturer to Cheaper Georgia
Gov. Abigail Spanberger and whatever members of the Virginia Democratic Party that aren’t in a war of words with her still speak of fulfilling their affordability agenda, which we have debunked in earlier columns as nothing more than more taxpayer-funded subsidies or draconian controls on providers like landlords. However, the news that Rideout Arsenal, a… -
opinion
Giving Americans More Choices for Their Retirement Savings
For years, most Americans’ retirement savings plans have been locked out of certain investment choices, including some of the market’s best-performing assets. That makes it harder to save for retirement. Fortunately, though, this is about to change, giving savers new—and better—options for their investments. At issue are not only the many rules and regulations surrounding… -
opinion
The Great Corporate Governance Realignment
Three relatively recent events arguably serve as the most prominent landmarks for the dramatic shift in corporate governance we are currently witnessing. First, after roughly 100 years of essentially unchallenged dominance, Delaware’s role as the undisputed home of corporate charters ran into an iceberg in the form of Elon Musk. On Jan. 30, 2024, a… -
news
‘Gross Misuse of Federal Funding’: Trump Admin Blocks Payments to ‘Obviously Fraudulent’ Los Angeles Homeless Agency
The Department of Housing and Urban Development under President Donald Trump announced an “immediate suspension” on all funding to the Los Angeles Homeless Services Authority, citing a “clear pattern of fraud.” “Year after year, hundreds of millions of taxpayer dollars were funneled to LAHSA with little accountability,” HUD Secretary Scott Turner said in a statement… -
opinion
America, the Hedge Fund
From its beginnings, America has thrived on a tradition of separation between government and private industry. But having just emerged from the Biden era, with its heavy-handed regulation of energy, automotives, and appliances, the U.S. is now entering a new period in which the government is becoming a strategic shareholder. The idea, ostensibly, is to… -
news
Trump Team Cuts $4 Million in Pro-Illegal Immigrant, DEI, and Green Energy Services
The Department of the Interior has terminated 43 partnerships with outside organizations that it says no longer align with the Trump administration’s priorities, eliminating more than $4 million in planned funding for programs tied to diversity, equity, and inclusion; environmental justice; and services for illegal immigrants. Led by Secretary Doug Burgum, the department determined the… -
opinion
Congress Must Use Reconciliation to End the Fed’s Interest on Reserve Payments
The cost of living has risen to unsustainable levels for millions of working Americans. Delivering immediate relief by lowering these costs and restoring affordability is essential. The first step is using budget reconciliation in the coming weeks to enact targeted spending reforms and structural changes that put money back in the pockets of families. Few… -
news
$22 Million Gun Factory Relocates From Virginia to Georgia Over ‘Anti-Gun’ Legislation
On Wednesday, Georgia Gov. Brian Kemp announced a firearms manufacturer will leave the state of Virginia over new “anti-gun legislation” and relocate to Georgia, bringing a $22 million investment and employing hundreds of residents. “Georgia attracts job creators from all over the country and world because we work with them, not against them,” Kemp said…. -
news
Can Republicans Pull Off One Last Big Bill Before August? Pfluger Says They Can
After nearly a year, House Republicans are finally gaining momentum on Reconciliation 3.0, an affordability, anti-fraud bill that has the potential to save the party in the midterms. With their self-imposed deadline of “before the end of summer”—meaning before campaign season ramps up in August—the window isn’t open long. Republican Study Committee Chairman August Pfluger,… -
opinion
New Polling: Hispanics Are Angry at the Economy, Strong on Immigration Enforcement
By giant margins, a new national poll of Hispanics shows that these citizens have soured on President Donald Trump and the Republican Party, with the economy driving the dissatisfaction—not immigration enforcement. In fact, when apprised of the reality of Trump’s immigration agenda, Hispanics approve. When asked what concerns them more—high prices or Immigration and Customs Enforcement and immigration… -
opinion
How Reconciliation Can Help Reduce SNAP Fraud and Waste
Waste, fraud, and abuse in the welfare system have been on full display for the last several months, giving Congress a clear opportunity for reform. As lawmakers consider another budget reconciliation, they should prioritize improving the Supplemental Nutrition Assistance Program, one of the federal government’s largest welfare programs. First, Congress could eliminate a major loophole… -
news
Ohio, Feds Ramp Up Joint Fight Against Fraud
Last Thursday, members of President Donald Trump’s administration met in Columbus, Ohio, to discuss the Buckeye State’s ongoing fight against fraud. Ohio is the first state in the country to share corporate registration records with the Department of Justice’s National Fraud Detection Center, granting investigators immediate access to important information. The announcements made last week… -
news
Hispanic Voters Send GOP a Warning—and Reveal a Path Back
A new national survey of registered Hispanic voters points to a challenge for Republicans and a potential path to rebuilding support ahead of the midterm elections. Democrats held a 16.1-point advantage on the congressional generic ballot in the Wick survey of 1,000 registered Hispanic voters. The results also show that economic concerns are dominating voters’ priorities: A… -
opinion
California: The Land of Regulation
California’s punishing cost of living isn’t inevitable—it’s policy-driven. Burdensome regulations have sent housing and energy prices soaring, crushing incomes and deepening poverty. Smarter deregulation could bring back the Golden State’s long-lost affordability and historic role as a “land of opportunity.” In 2024, California had a poverty rate of 17.7%, meaning about 7 million people were… -
opinion
Bureaucrats in the Way of Business
Is your business “needed”? Bizarrely, in many states, if you want to start a business, you first must convince bureaucrats that your business is “needed.” Four years ago, Louisiana blocked social worker Ursula Newell-Davis from helping kids with special needs. Bureaucrats said she hadn’t proved her business was needed. “Why does the state of Louisiana… -
opinion
How Do Federal Government Employees Get Away With Not Paying Their Taxes?
We have known for some time that our federal employees have cushy lives compared to the people for whom they work (us). What is particularly infuriating is that so many of them either don’t pay their taxes or are seriously delinquent on what they owe their employer—the federal government. Recently, the Treasury Inspector General for…