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
Trump’s Rescissions Package Becomes First Heritage Action Key Vote of Session
Heritage Action has scored President Donald Trump’s rescissions package as its first key vote of the 119th Congress. The rescissions package passed the House of Representatives on Thursday afternoon. “Heritage Action applauds the work President Trump and his administration have done to deliver a bold rescissions package to Congress,” Heritage Action Executive Vice President Ryan…Daily Signal Staff -
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Newsom’s Threat That California Might Withhold Federal Taxes Called ‘Reckless,’ ‘a New Low’
Republican members of Congress on Wednesday assailed Democrat California Gov. Gavin Newsom’s suggesting that it might be time for his state to cut off taxpayer money going to the federal government. Addressing the matter in a June 6 post on X, Newsom said, “Californians pay the bills for the federal government. We pay over $80…Jacob Adams -
- Opinion
House Set to Rescind Woke and Wasteful Spending
This week, the House of Representatives is expected to vote on the Rescissions Act of 2025 in response to a formal request submitted to Congress by President Donald Trump. From 1974 to 2000, it was commonplace for the president to request rescissions of funding under the Congressional Budget and Impoundment Control Act of 1974. In…Rep. Kevin Hern -
- Opinion
Congress Should Quickly Approve Trump’s Rescission Legislation
President Donald Trump‘s rescission legislation has finally arrived in Congress, where it will have 45 days to be approved by both chambers on a simple majority vote. Success would be a significant victory in Trump’s campaign to dismantle the Left’s political infrastructure. It sounds simple, right? It is—very. Except Washington is full of Republicans afraid of their…Mike Gonzalez -
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Why House Conservatives Prefer Debt Payoff to $5K DOGE Checks
Some House Republicans say they would rather use Department of Government Efficiency savings to pay off the national debt than to hand out the funds to taxpayers. President Donald Trump floated giving $5,000 stimulus checks to taxpaying households in February, saying: “We’re thinking about giving 20% back to the American citizens, and 20% down to…Elizabeth Troutman Mitchell -
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House Committee ‘Keeping a Watchful Eye’ on Labor Department’s Funding of Pro-Union Group Amid ‘Conflict of Interest’ Concerns
The House Committee on Education & the Workforce is monitoring the relationship between an agency within the Labor Department and the pro-union group the Solidarity Center following a recent Daily Signal report on a potential conflict of interest. "This report is deeply concerning and calls into question whether there was a significant conflict of interest,"…Tyler O’Neil -
- Opinion
Rand Paul Is Right About the Debt
“Let’s talk about the deficit.” That is what Senate Minority Leader Chuck Schumer, D-N.Y., said on the Senate floor on Monday, June 2. “For years, Republicans screamed about fiscal responsibility. But now Republicans are backing a bill that could add over $50 trillion to the national debt over 30 years,” Schumer claimed—without citing a source—in…Terence Jeffrey -
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House Republicans Dispute CBO’s Deficit Scoring of ‘Big, Beautiful Bill’
The Congressional Budget Office, Congress’ scorekeeper on the fiscal impact of legislation, released a report Wednesday predicting a deficit increase if Republicans’ “big, beautiful” budget reconciliation bill is enacted. Republicans dispute that claim, contending that those predictions come from a misguided view of the economy. The report projects that the House bill would heap an…George Caldwell -
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House Budget Hawks Cheer DOGE Package
The White House’s delivery to the House of Representatives of a package that would codify some of the Department of Government Efficiency’s cuts into law was greeted with enthusiasm by the fiscally hawkish House Freedom Caucus on Tuesday. The rescissions package, delivered by the White House Office of Management and Budget to Republican House leadership,…George Caldwell -
- Opinion
Trump’s Second Term Gains Momentum as Economy Soars, Borders Tighten
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. We’re at four months now in the new Trump second administration. And a strange thing has…Victor Davis Hanson -
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Ron Johnson on ‘Big, Beautiful Bill’ Spending: ‘It’s Immoral’
As a Republican holdout on the “big, beautiful” budget bill, as President Donald Trump calls it, Sen. Ron Johnson thinks he has a fairly simple request for the 10-year budget plan: Go back to the drawing board and cut spending down to pre-COVID-19 pandemic levels. “That pretty well sums it up in one chart,” said…George Caldwell -
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Labor Department Confirms Bureaucrat on Leave Amid Woke Conflict of Interest Questions
A nonprofit that supports unions across the world received extra infusions of cash from a federal agency after one of the union group’s employees took a leadership role at the agency. She later went on to serve as the agency’s acting chief of staff. Lauren Stewart spent 15 years at the Solidarity Center, a left-leaning…Tyler O’Neil -
- 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 -
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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 -
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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 -
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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 -
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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 -
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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