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
Musk’s Worthy DOGE Spotlight and the Fiscal Path Forward
On Wednesday evening, the world’s wealthiest man announced that his sojourn in the nation’s capital is almost over. “As my scheduled time as a Special Government Employee comes to an end, I would like to thank President [Donald Trump] for the opportunity to reduce wasteful spending,” Elon Musk posted to X, the social media platform…Josh Hammer -
- News
Changes to ‘Big, Beautiful Bill’ to Cost Extra $140B Over 10 Years, Tax Panel Estimates
Want some extra SALT with those budgetary fries? It will cost you. The congressional Joint Committee on Taxation has released its latest cost estimates on the latest House budget proposal, which includes a quadrupling of the cap on state and local tax (SALT) deductions on federal taxes. The projections suggest late compromises on issues such…George Caldwell -
- News
Elon Musk ‘Disappointed’ in ‘Big, Beautiful’ Spending Bill
Department of Government Efficiency head Elon Musk told CBS News Tuesday he is “disappointed” in the spending codified in Republicans’ “big, beautiful bill.” “I was disappointed to see the massive spending bill, frankly, which increases the budget deficit, not just decreases it, and undermines the work that the DOGE team is doing,” the Tesla CEO…Elizabeth Troutman Mitchell -
- News
How a ‘Nonpartisan’ Government Budget Office May Be Misleading Lawmakers on Spending as GOP Megabill Looms Large
DAILY CALLER NEWS FOUNDATION—The agency providing Congress with cost estimates—including projections for the GOP’s major reconciliation bill—has a long history of inaccuracy and bias, according to some policy experts and lawmakers. Established in 1975, the Congressional Budget Office was created to “provide objective, nonpartisan information to support the Congressional budget process and to help the Congress make…Melissa O’Rourke -
- Opinion
Romania, Bulgaria Must Increase Defense Spending to Strengthen NATO’s Critical Southeastern Flank
Although last year provided evidence of great improvement, Romania and Bulgaria still need to continue increasing their defense spending to strengthen NATO’s southeastern flank. Both nations spent over 2% of their gross domestic product—the measure of the total value of goods and services their countries’ produced—on their defense in 2024. Two percent is currently the…Cameryn Jones -
- Opinion
Belgium’s Defense Deficit: Why 2% Can’t Wait Until 2029
With June’s NATO summit likely to call for substantial increases in member defense spending, increased scrutiny awaits those NATO members that still haven’t reached even the 2% spending minimum—a minimum that’s been required for well over a decade. One of the more notorious NATO free riders is Belgium, which has skated by while spending only…Ellyn Chatham -
- News
House-Passed Budget Bill Defunds Planned Parenthood
House Republicans delivered on their promise to defund Big Abortion on Thursday by passing the budget reconciliation bill that has consumed Washington’s attention for the past three months. In the bill, the House GOP removed Medicaid funding for Planned Parenthood, the largest provider of abortions in the country. The effort had been supported by dozens of…Jacob Adams -
- News
House Strengthens Budget Provision Blocking Medicaid Coverage for Sex Changes
House Republicans secured a provision in the “big, beautiful bill” prohibiting taxpayer funding for all gender-transition procedures. The House Rules Committee’s Wednesday night markup strengthened a provision from the Energy and Commerce Committee preventing Medicaid, CHIP, and Affordable Care Act funding of gender transitions only for minors. The Rules Committee markup struck “for minors” and…Elizabeth Troutman Mitchell -
- News
House Freedom Caucus Presses for Budget Agreement With Trump, Johnson
Don’t count on the budget reconciliation bill passing the House today. That appeared to be the message from leading House Freedom Caucus members, who said they were working on a deal with the White House and House GOP leadership. “We are greatly encouraged by the progress that’s been made in the last 24 hours,” said…George Caldwell -
- News
Mainstream Republicans Hope for Unity on Budget Bill After Trump Visit to Capitol
After President Donald Trump’s Tuesday meeting with the House GOP Conference, moderate Republicans are hoping that his stern command to unify will bring holdouts into line to vote for the budget reconciliation bill. “Listen, the president spoke in a very strong way about the need to quit screwing around and pass this bill. And that…George Caldwell -
- News
4 Takeaways From RFK’s Health and Human Services Budget Testimony
Health and Human Services Secretary Robert F. Kennedy Jr. testified Tuesday before a Senate panel about waste in his department, as Democrats became testy over several points. During the hearing of the Senate Appropriations Subcommittee on Labor, Health and Human Services, Education, and Related Agencies, Kennedy noted, “This agency has a budget that is comparable…Fred Lucas -
- News
Budget Committee Passes ‘Big, Beautiful Bill’ After Negotiations
The House Budget Committee advanced the Republican budget reconciliation bill Sunday night after three days of negotiations brought enough additional cost-saving proposals to convince four GOP budget hawks to reverse their initial opposition. The bill passed by a 17-16 margin, with all Democrats on the committee voting against it. The bill, if it passes the…George Caldwell -
- News
Republicans Scramble to Regroup After Budget Bill Setback
Top congressional Republicans are picking up the pieces in the wake of the House Budget Committee’s rejection Friday of leadership’s budget proposals. If one thing’s clear, it’s that leadership will have to seek a compromise with fiscal hard-liners. On Friday, the House Budget Committee voted against advancing the budget package with Republican fiscal hawks—specifically, Reps….George Caldwell -
- News
Why Budget Committee Conservatives Shot Down Part of the ‘Big, Beautiful Bill’
The House Budget Committee voted down the budget reconciliation bill in a blow to leadership’s efforts to pass President Donald Trump’s “big, beautiful bill.” The bill was voted down 16-21 in committee, with Republican fiscal hawks—specifically Reps. Andrew Clyde of Georgia, Chip Roy of Texas, Ralph Norman of South Carolina, and Josh Brecheen of Oklahoma—voting…George Caldwell -
- News
Brandon Gill Comes Back From Parenting Newborn to Save Budget Bill
Freshman Rep. Brandon Gill returned from leave with his newborn son Friday to participate in a contentious budget vote that could make or break Republican efforts to pass what President Donald Trump calls the “one big, beautiful” budget bill—aimed at funding his policy priorities and fulfilling a host of campaign promises. As of Friday morning,…George Caldwell -
- News
Jeffries Rejects Republicans’ Welfare Reform Proposals
House Democrat leader Rep. Hakeem Jeffries suggested at a Thursday press conference that he would vigorously oppose Republicans' reform proposals for Medicaid and other welfare benefits, with the hope that their budget reconciliation bill fails and the GOP leadership has to seek Democrats’ votes. Jeffries, D-N.Y.—who spoke at a press briefing at the same time…George Caldwell -
- News
Johnson Holds Life-or-Death Budget Negotiations
Speaker of the House Mike Johnson met with competing groups of Republican lawmakers Thursday morning on issues that could decide whether or not the GOP’s “big, beautiful” budget bill passes the House. Johnson, R-La., is working at a feverish pace to pass a budget reconciliation bill that would fulfill President Donald Trump’s campaign promises, such…George Caldwell -
- News
Kennedy Defends HHS Budget, Staffing Cuts in Face of Democrats’ Criticism
At a hearing before a Senate panel Wednesday, Health and Human Services Secretary Robert F. Kennedy Jr. made the case that he’s running a cost-efficient, yet effective, HHS. “When my team and I took the helm at HHS, we set out with clear goals,” Kennedy said told members of the Senate Health, Education, Labor and…George Caldwell -
- Opinion
Why the House’s New Education Plan is a Win for Students and Taxpayers
In response to a directive to cut $330 billion in mandatory federal education spending over the next decade, the House Education and Workforce Committee has proposed a reconciliation package projected to save taxpayers approximately $350 billion—surpassing the target by $20 billion. This part of the reconciliation bill, passed at the end of April, now moves…Madison Marino Doan -
- Opinion
Reforms in Corporate Governance Could Boost Appeal of US Stocks, Economy
President Donald Trump’s America First Investment Policy touts that welcoming foreign investment and strengthening the United States’ “world-leading private and public capital markets will be a key part of America’s Golden Age.” Of the $124 trillion market capitalization of the global stock market, U.S. stocks account for 49%, and international investors own 17% of those U.S….Sanjai Bhagat