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
1 in 3 Dollars Earned Goes to Taxes. Why?
Most Americans were glad to get another Tax Day behind them this month. It’s galling to hand over a third of everything you earned last year to government to waste, fraud, and abuse. Consider the raw numbers. Last year, the federal government took just over $5 trillion. States and localities took another $2.5 trillion. Out… -
exclusive
71% of Voters Reject Proposed Railroad ‘Monopoly’
A new survey from the Stop the Rail Merger Coalition, conducted by McLaughlin & Associates, which is heavily relied upon by President Donald Trump’s administration, found that 71% of likely voters oppose the $85 billion merger between Union Pacific and Norfolk Southern, which Union Pacific proposed a day before the two companies were set to… -
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Gallego, Immigration Signal Trouble for Arizona Democrats in Midterms, Poll Shows
FIRST ON THE DAILY SIGNAL—A new poll from the League of American Workers finds a majority of voters view the war with Iran negatively but aspects of the immigration enforcement agenda positively, underscoring potential headwinds for both political parties heading into the midterm elections. A large portion of voters also indicated that they think worse… -
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Squad Pushes $25 Minimum Wage in the Name of ‘Racial Justice’
FIRST ON THE DAILY SIGNAL—The Daily Signal has obtained plans from a coalition of House Democrats showing it will push legislation to raise the federal minimum wage to $25 an hour and “tax the rich” in an effort to strip “power and privilege” from “the wealthy and well‑connected” to advance “racial justice.” Reps. Delia Ramirez,… -
news
May Day Organizers Urge Georgia Residents to Skip Work, School, and Shopping
Labor activists in Savannah, Georgia, are organizing a May Day protest encouraging community members to step away from work, school, and shopping for a day as part of a broader national demonstration tied to International Workers’ Day. Organizers are calling on residents to close businesses, skip school, and avoid shopping on May 1 as a… -
news
CA Hospice Fraud Question: ‘How Do You Put a Hospice in a Burrito Stand?’
The Centers for Medicare and Medicaid Services has halted payments to more than 400 hospices in Los Angeles and across California, with the estimated fraud being greater than $600 million, according to the anti-fraud task force led by Vice President JD Vance. Sheila Clark, CEO of the California Hospice and Palliative Care Association, is questioning… -
opinion
The Triumph of Economic Freedom?
Prices rise. People blame capitalism. Politicians promise “solutions.” President Donald Trump wants to cap credit card interest rates. My socialist mayor wants to freeze rents. Elizabeth Warren wants politicians to decide what prices are “excessive.” So I was surprised to see economist Donald J. Boudreaux’s new book titled “The Triumph of Economic Freedom.” “Economic freedom… -
news
US Air Traffic Control Undergoes Biggest Upgrade Since the Jet Age
Summary The U.S. Department of Transportation this week converted the atrium of its Washington, D.C., headquarters into a first-of-its kind exhibit featuring decades-old aviation equipment—and the new technology that is replacing it. Transportation Secretary Sean Duffy hosted hundreds of aviation partners and industry leaders at Tuesday’s Modern Skies Summit, touting major upgrades to the nation’s air traffic control system. “This is truly the largest overhaul in aviation since the jet… -
opinion
Hey, Socialists, We’ve Already Figured Out the Supermarket
There are at least 76,000 supermarkets in the United States. Most of us probably have a dozen within 10 miles of home. Nevertheless, leftists are constantly trying to convince us that we need government-run grocery stores. The latest person is New York City Mayor Zohran Mamdani, who has promised to open five city-run markets to… -
news
Justice Dept to Close Investigation of Federal Reserve Renovations, US Attorney Pirro Says
The Justice Department is closing its investigation into cost overruns in renovations at the Federal Reserve under Chairman Jerome Powell, U.S. Attorney Jeanine Pirro said on Friday. Pirro said the inspector general of the Federal Reserve has been asked to scrutinize the building costs. “The IG has the authority to hold the Federal Reserve accountable… -
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Trump Admin Changes Plan to Tap Former Anthropic Researcher to Direct Federal AI Safety Org
FIRST ON THE DAILY SIGNAL—The Commerce Department tapped a new director for the government’s safety-centered artificial intelligence organization, but later decided to go in another direction, sources familiar with the matter tell The Daily Signal. Collin Burns, a former researcher at Anthropic and OpenAI, was tapped to lead the Commerce Department’s Center for AI Standards… -
news
Tillis ‘Loved’ Kevin Warsh’s Fed Philosophy, But Maintains ‘No’ Vote
Sen. Thom Tillis praised President Donald Trump’s nominee for Federal Reserve chair, Kevin Warsh, but he maintained that he will not support Warsh as long as Trump is investigating current chair Jerome Powell. “I look forward to supporting your nomination, and I look forward to this investigation being taken down,” the North Carolina Republican told… -
news
Labor Secretary Out, Replacement Named
Lori Chavez-DeRemer has resigned as labor secretary, White House communications director Steven Cheung announced on X. “She will be leaving the Administration to take a position in the private sector,” Cheung said on Monday. “She has done a phenomenal job in her role by protecting American workers, enacting fair labor practices, and helping Americans gain… -
opinion
High Schoolers Need Economics, Not Just ‘Financial Literacy’
April is National Financial Literacy Month, when the federal government and many states encourage citizens to become more financially literate. Unfortunately, many today lack a basic knowledge of economics, to our nation’s detriment. Across the country, states are starting to mandate that students take a personal finance course to graduate high school, often in place of economics courses. In 2022,… -
news
How Taxes Affect Ohioans on April 15 and Beyond
This year, the Trump White House had plenty of benefits to tout for Americans on Tax Day, namely through the Working Families Tax Cuts from last July. For Ohioans, the issue goes beyond April 15, with the potential to affect closely watched races for the midterms. How Did Ohioans Benefit? The average tax refund is… -
news
‘We’ll Get Back on Track’: White House Addresses Falling Small Business Optimism Amid Iran War
Small Business Administration Administrator Kelly Loeffler is optimistic that the economic sentiment for small businesses will return to pre-Iran war levels soon amid a downturn. “One data point does not a trend make. And the long-term trend under President [Donald] Trump has been for small business optimism to be above its 52-year average under Joe… -
news
Americans See Employment and Earning Retention Gains Thanks to Working Family Tax Cuts
Members of Congress are pointing to rising wages and private-sector job growth as evidence that the Working Families Tax Cuts Act is delivering results for American workers and businesses. The law, signed by President Donald Trump on July 4, 2025, reduced taxes on tips, overtime pay, and certain retirement benefits, while expanding the child tax… -
news
GOP Looks to Expand Tax Relief, ‘Even Better’ Than ‘One Big, Beautiful Bill’
The GOP is keeping tax policy in the headlines with a successful Tax Day, as Americans can expect an average $3,000 refund. Members are now looking ahead to how they can continue to be the party of “working Americans.” During a press call about President Donald Trump’s One Big Beautiful Bill Act—now commonly referred to as the… -
news
Code Pink Should Lose Tax-Exempt Status for 3 Key Reasons, Watchdog Group Tells IRS
FIRST ON THE DAILY SIGNAL—The leftist activist group Code Pink should lose its tax-exempt status for engaging in potentially illegal activity, violating tax rules against engaging in prohibited political activity and excess lobbying activity, and for supporting the interests of China without properly registering with the Department of Justice, a conservative group said in a… -
opinion
This Tax Day, Americans Are Finally Getting a Break
Historically, tax season has never been easy for working Americans. It’s typically marked by days or weeks spent digging through stacks of receipts, invoices, 1099s, and W-2s. It’s the undue stress of figuring out how to file or whom to hire for help. And it is uncertainty in not knowing if you’ll owe money—or how…