Economy News
The Daily Signal reports on economy news with analysis and commentary on growth, recession risks, employment, and financial trends.
-
- 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…John Stossel -
- 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…Elizabeth Troutman Mitchell -
- News
White House Has a Message to Cool Inflation Worries
New Department of Labor statistics indicate inflation rose sharply amid the United States’ military campaign against Iran, but the White House argues the rise in costs will only be temporary. “President [Donald] Trump has always been clear about short-term disruptions as a result of Operation Epic Fury, disruptions that the Administration has been diligently working…George Caldwell -
- News
Spanberger Is ‘Taking Credit’ for Youngkin’s Economic Deals
Virginia Democrat Gov. Abigail Spanberger is celebrating massive statewide investments and job growth in Virginia, but critics say the state’s former governor deserves the credit. This week, Spanberger announced signing multiple business investment bills into law that will bring a total of $7.1 billion and 3,250 jobs to the state. She said in a news…Virginia Grace McKinnon -
- Opinion
Gas Prices Are Better Than They Might Seem
Throughout recorded human history, military power has been a universal value regardless of civilization, culture, or epoch. Sadly, individual freedom and democracy have not been (and still are not) recognized as universal values. The recent U.S. military success in Venezuela has been the source of considerable benefits to the U.S. and its citizens. To wit,…Sanjai Bhagat -
- News
EXCLUSIVE: American Medical Association Should Lose Tax-Exempt Status, Watchdog Group Says
FIRST ON THE DAILY SIGNAL—The IRS should investigate and potentially revoke the tax-exempt status of the American Medical Association’s philanthropic arm, according to a new complaint filed Tuesday. “Based on the evidence in our complaint, we believe the IRS should revoke the AMA Foundation’s tax-exempt status for operating a racially discriminatory program,” Dr. Kurt Miceli,…Tyler O’Neil -
- News
Inside the Massive Advocacy Blitz to Set AI Regulations
Now that the White House has passed the baton to Congress to codify a National Framework on Artificial Intelligence, an advocacy blitz is underway to shape the future of American tech policy. President Donald Trump previously directed Michael Kratsios, his science and technology adviser, and David Sacks, former AI czar, to recommend federal AI legislation…Elizabeth Troutman Mitchell -
- Opinion
Radical Tax Hikes Will Accelerate PA’s Outmigration
Gov. Josh Shapiro keeps repeating the claim that Pennsylvania is the only growing state in the Northeast. But that’s not true. Residents continue to leave Pennsylvania for greener pastures. New data from the Internal Revenue Service shows that Pennsylvania lost 15,000 residents on net to other states in 2023. Those residents took with them $2.3 billion…Nathan Benefield -
- News
US Job Growth Accelerates by the Most in 15 Months in March
WASHINGTON, April 3 (Reuters)—U.S. job growth rebounded sharply in March as a strike by health care workers ended and temperatures warmed up, but downside risks for the labor market are mounting from a war with Iran that has no clear end in sight. The biggest increase in nonfarm payrolls in 15 months was reported by…Lucia Mutikani -
- Opinion
Time to Leave the Social Security Plantation
To repeat what Americans have heard a lot recently, our Social Security system is in very bad shape. Per the most recent report, in 2025, of the Social Security and Medicare board of trustees, Social Security is capable of paying out the entirety of promised benefits through 2033. After that, there is only the capability…Star Parker -
- News
Republicans Divided on Budget Reconciliation Gamble for SAVE America Act
Republicans are turning to budget reconciliation to pass the SAVE America Act into law, but some doubt the process will result in the election integrity measures offered in the current version of the bill. “There’s a lot of support for a budget reconciliation bill,” Majority Leader Thune, R-S.D., told press this week. While the budget…Virginia Grace McKinnon -
- News
Budget Chairs Push Reconciliation 2.0. Can It Get Off the Ground?
Republican Sen. Lindsey Graham says a party-line budget bill could enact major conservative legislative goals, from funding the Department of Homeland Security to requiring photo identification in elections. But does his ambitious plan have buy-in from the House conservatives whose support it needs to pass? “The Senate [Budget] Committee will expeditiously move toward creating a…George Caldwell -
- News
EXCLUSIVE: Social Security Penalty Could Be Eliminated Under Rick Scott’s New Bill
A Senate Republican aims to “keep” the “aging community out of poverty” by introducing legislation on Wednesday that would allow Social Security recipients to be able to seek additional income and employment. The Senior Citizens Freedom to Work Act, authored by Sen. Rick Scott, R-Fla., would repeal “outdated” provisions, such as the Retirement Earnings Test,…Pedro Rodriguez -
- News
WATCH: Colombia’s Sweet Strategy to Defeat the Cocaine Trade
MIAMI—Colombian officials are working to eliminate the nation’s illicit cocaine trade and replace it with chocolate. “We say to the world, ‘Please buy cocoa, not coca,’” Defense Minister Pedro Arnulfo Sanchez told The Daily Signal at the Miami Security Forum. Thousands of acres of farmland in Colombia have been converted from growing coca crops, the…Virginia Allen -
- Opinion
A Tariff Ceasefire in Time of War Would Help Everybody
TOWNHALL—Iran’s efforts to close the Strait of Hormuz have made gas prices rise to the point where they may threaten President Donald Trump’s affordability agenda. Whether the closure is short or long, consumers are feeling the pain, just as the latest economic figures show an economy that is sputtering and can use a boost. But…EJ Antoni -
- News
Treasury’s Bessent Says US Has ‘Plenty’ of Funds for Iran War
WASHINGTON, March 22 (Reuters) — The U.S. government has “plenty of money” to fund the war against Iran, but is requesting supplemental funding from Congress to ensure the military is well supplied in the future, U.S. Treasury Secretary Scott Bessent said on Sunday. Bessent, speaking on NBC News’ “Meet the Press” program, also ruled out…Reuters -
- News
Jeanine Pirro Slams ‘Activist’ Judge for Blocking Subpoenas Against Fed Chair Powell
A federal judge on Friday blocked subpoenas issued by the Justice Department as part of its criminal investigation into Federal Reserve Chair Jerome Powell’s handling of renovations of the central bank’s Washington headquarters. U.S. Attorney for the District of Columbia Jeanine Pirro, an appointee of Republican President Donald Trump whose office is spearheading the investigation, promised…Daily Signal Staff -
- News
‘RIPPING US OFF’: Tim Burchett Blames Oil Companies’ ‘Greed’ for Higher Prices
A House Republican appeared to take a page out of Democrats’ playbook, blaming the “greed” of oil companies for increased oil prices, even as an oil trade association attributed the spike to the conflict in Iran. “Just fueled up the dually with diesel yesterday, I decided to do that instead of sending my daughter to…Pedro Rodriguez -
- News
GOP Considers Last-Ditch Affordability Effort Ahead of Midterms
House Republicans are gathering in Doral, Florida, this week to strategize ahead of a sprint to the midterms. As affordability remains a top concern for Americans, Republicans are mulling a second budget reconciliation, a second “Big, Beautiful Bill,” that looks to deliver on affordability and other priorities of President Donald Trump. “One of the things…Virginia Grace McKinnon -
- News
Why the Department of Transportation Is Asking Americans to Travel in 2026
“Celebrate your country by seeing your country.” With that message to Americans, Transportation Secretary Sean Duffy kicked off a new national campaign Friday at Union Station in Washington, D.C.—one designed to remind Americans that the freedom to move has always been at the heart of the American story. As the nation celebrate its 250th birthday this year, the U.S. Department of Transportation unveiled “Freedom…Katherine Matt