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
Denver’s Sanctuary Policies Leave Colorado Vulnerable and Cost Taxpayers Millions
Denver has long been at the forefront of sanctuary policies, officially becoming a “sanctuary city” around 2013 and pioneering a trend that has transformed Colorado into a full-blown “sanctuary state”—and Coloradans are paying the price. Legislation enacted by Democrat-dominated state lawmakers prohibits sheriffs from cooperating with federal Immigration and Customs Enforcement in identifying and deporting… -
news
Van Hollen’s Office Mum on Cost to Taxpayers for El Salvador Visit
Sen. Chris Van Hollen’s office is mum about how much the taxpayers had to shell out for his trip to El Salvador — or whether he or someone else paid — in a failed effort to win the release from prison of a former illegal immigrant who resided in his state. Spokespersons for the Maryland… -
news
White House Prepares to Go After Noncitizens Who Defraud Entitlement Programs
THE CENTER SQUARE—The White House announced Tuesday plans to help protect Social Security benefits from noncitizens and ramp up anti-fraud efforts. White House press secretary Karoline Leavitt outlined key points from the memorandum to reporters at a press briefing on Tuesday afternoon. Through the memorandum, President Donald Trump aims to stop noncitizens and “other ineligible people” from… -
news
How Treasury’s Bessent Went From Soros Employee to One of Trump’s Top Lieutenants
One of the most prominent defenders of the Trump agenda during the president’s second term has been Secretary of the Treasury Scott Bessent. A relative unknown on the national stage prior to being tapped for the post, Bessent, 62, has quickly become one of the president’s most effective communicators. A recent poll found him to… -
opinion
Democrats Mislead Public About Benefits of GOP Tax Cuts
It’s Tax Day in the United States. “Republicans believe every day is the Fourth of July, but the Democrats believe every day is April 15,” President Ronald Reagan quipped during his 1984 reelection campaign. But Tax Day will be much worse next year if Republicans don’t extend our signature 2017 legislation—the Tax Cuts and Jobs… -
opinion
A Budget Battle That Could Determine Speaker Johnson’s Future
Speaker of the House Mike Johnson is staking his political future on one daunting task—delivering a budget reconciliation bill that will satisfy both houses of Congress. In order to pass “one big, beautiful bill” to fulfill President Donald Trump's campaign promises, Johnson, R-La., will have to make good on his own commitments to the most… -
news
DOGE Shocker: Biden Gave Terrorists Social Security Numbers and Welfare Benefits
The Center Square—The Biden administration not only released a record number of known or suspected terrorists into the U.S. but also gave them Social Security numbers and taxpayer-funded welfare benefits, according to a new analysis by the Department of Government Efficiency. DOGE posted its latest findings of alleged government waste, fraud, and abuse, fully funded… -
news
Wisconsin Farmer Again Challenges USDA Program Rules as Discriminatory
THE CENTER SQUARE—The U.S. Department of Agriculture continues to discriminate in many of its programs, according to a new letter from the Wisconsin Institute for Law and Liberty. Wisconsin Institute for Law and Liberty wrote the letter telling the USDA that it will file a lawsuit if the issue is not corrected within 60 days. Wisconsin Institute… -
news
About-Face? Republicans Weigh Raising Taxes on Top Earners
Some Republicans are considering a new way to free up space in the budget—raising taxes on the wealthiest Americans. The idea of raising taxes—which goes against long-held assumptions about the Republican Party’s fiscal policy—appears to be gaining some traction in both the White House and within GOP congressional leadership. Axios first reported on this shift… -
news
House Narrowly Passes Trump-Backed Budget Plan on Party-Line Vote
House Republicans pushed through a Trump-backed budget framework on a 216-214 vote Thursday, providing a boost to the president’s legislative agenda. Democrats voted against it unanimously, while Reps. Thomas Massie, R-Ky., and Victoria Spartz, R-Ind., were the only Republicans in opposition. The resolution’s passage came amid some protests from hard-line fiscal conservatives within the GOP,… -
news
Solar Picnic Tables? How the Federal Government Has Treated Your Tax Dollars With Utter Disdain
DAILY CALLER NEWS FOUNDATION—The House Oversight Committee’s subpanel on government efficiency held a hearing Tuesday exposing billions of taxpayer dollars wasted annually on outdated federal buildings. Republican Georgia Rep. Marjorie Taylor Greene, who leads the Subcommittee on Delivering Government Efficiency, opened the hearing by slamming federal agencies for maintaining a bloated real estate footprint. She… -
news
Washington’s Leading Tax Cut Advocates Cheer Trump’s Tariffs Pause
Minutes after President Donald Trump’s announcement of a 90-day pause on most of the tariffs he had imposed, Washington’s most prominent tax-cut advocates cheered the dramatic reversal. President Donald Trump announced on social media that tariffs will fall to a baseline of 10% for 90 days, except for China's, which will be raised even higher,… -
news
Stock Market Reacts to Trump Pausing Tariffs
Mere minutes after President Donald Trump announced a 90-day pause on tariffs for more than 75 trading partners that did not retaliate, the stock market is booming. The S&P 500 was up 8.3% with less than an hour remaining in trading, approaching one of its best days in decades. The Dow surged 2,600 points, its biggest rally in… -
news
Treasury Report Exposes How Fentanyl Traffickers Exploit Financial System
The fentanyl trade—which claimed tens of thousands of American lives in 2024 alone—is a multibillion-dollar business supported by sophisticated money laundering schemes, a new report from Treasury Secretary Scott Bessent revealed Wednesday. Bessent released the report amid President Donald Trump’s push to use tariffs as a weapon against foreign nations' reputed abuses of their financial… -
opinion
Farmers, Not Bureaucrats, Deserve Control of California’s Water: A Farmer’s Call for Stability
Farmers are at the heart of California’s water wars, but you wouldn’t know it from reading The New York Times. A recent feature on the removal of dams from the Klamath River highlighted environmental and tribal perspectives—yet it failed to incorporate the perspective of farmers like me who are directly affected by these decisions. This… -
news
Johnson Seeks to Quell Conservatives’ Mutiny Against Budget Plan
Republican leadership in the House has its hands full this week. House Speaker Mike Johnson is trying to get about a dozen fiscally conservative Republicans to sign off on the Senate’s budget plan by the end of the week. President Donald Trump has urged the House to “quickly” pass the plan that the Senate approved on… -
news
As Experts Warn of Possible Recession, Americans Offer Mixed Reaction on State of Economy
As investment bank Goldman Sachs raised the probability of a U.S. recession from 20% to 35% at the beginning of April, Americans’ opinions on the economy continue to be mixed, according to a new poll. RMG Research conducted the national survey of 1,000 registered voters on behalf of the Napolitan Institute to poll Americans’… -
opinion
Tariffs Are a Reason to Cut Taxes and Red Tape
If there’s one thing supporters and opponents of President Donald Trump’s tariffs should agree on, it’s the need to unchain prosperity at home while international trade is in flux. That means renewing the president’s first-term tax cuts, for a start, but it also calls for sweeping regulatory reform—a DOGE-like approach to slice the red tape… -
opinion
Don’t Like Trump’s Plan for the Economy? Let’s Hear Yours
Editor’s note: This is a lightly edited transcript of today’s video from Daily Signal Senior Contributor Victor Davis Hanson. Subscribe to our YouTube channel to see more of his videos. Hello, this is Victor Davis Hanson for The Daily Signal. I’d like to talk about the economy and politics very quickly. Whether you like it or… -
news
As Tariffs Tank Markets, Economy Craves Tax Cuts
More carrots, please. Feeling flogged by sticks, Wall Street greeted President Donald Trump’s “Liberation Day” with a bellowing Bronx cheer. On Wednesday, Trump unveiled 10% across-the-board tariffs on all imports, plus reciprocal taxes tailored to foil foreign tariffs on U.S. goods. Financial markets opened Thursday and swiftly wilted. After China slapped a retaliatory 34% tariff…