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
A Way to Unshackle American Businesses and Boost the Economy
In recent comments marking the first 100 days of his second term, President Donald Trump stated that his attention will next focus on efforts to reach a “big, beautiful new deal” in Congress to enact significant reductions in federal taxes and regulations. The president’s commitment is good news for all of us. Federal taxes impose…J. Kennerly Davis Jr. -
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SALT in Speaker’s Wounds: Budget Bill Threatened by NY Republicans
House Speaker Mike Johnson is being pressured on multiple fronts in his efforts to pass a budget reconciliation bill by Independence Day. Not only is he being pressed by fiscal hawks to make deep spending cuts to cover tax breaks, but he’s also being threatened by blue-state Republicans demanding higher tax deductions to offset their…George Caldwell -
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Transportation Secretary Unveils Overhaul of ‘Antiquated’ Air Traffic Control Systems
Transportation Secretary Sean Duffy announced a massive overhaul of the United States’ antiquated air traffic control system to modernize operations and reduce delays and inefficiencies. “This proposal seeks to transform the United States’ air traffic control system from its antiquated system to a modern system capable of meeting the demands of today and the future,”…Elizabeth Troutman Mitchell -
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Voters Want Balanced Budget and Low Taxes, Poll Finds
Most Americans want to balance the budget and keep taxes low, a new poll suggests. According to a Napolitan News Service survey—organized by noted pollster Scott Rasmussen—31% of registered voters would “strongly favor” a proposal to balance the federal budget in 10 years, while 39% “somewhat favor” it. Taken together, that's a 70% supermajority. That…George Caldwell -
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House Budget Bill Includes ‘Most Significant Regulatory Reform Ever,’ Ted Cruz Says
The House Judiciary Committee advanced its portion of the massive budget bill last week, and the legislation includes a provision that would be the “most significant regulatory reform ever,” according to Sen. Ted Cruz, R-Texas. The Regulations from the Executive in Need of Scrutiny Act, which Rep. Todd Young, R-Ind., and Sen. Rand Paul, R-Ky.,…Tyler O’Neil -
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Harvard by the Numbers: How University Will Fare Without Taxpayer Subsidies
Losing federal funding will hit more than two-thirds of Harvard University’s research grants, but the vaunted Ivy League institution won’t be financially strapped in other areas. The university has $70.6 billion in total assets, and most of its more than $6.2 billion in annual expenses goes to salaries and benefits, according to its financial report…Fred Lucas -
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Trump Administration Begins Dismantling Department of Education With $10.8B Budget Cuts
President Donald Trump’s 2026 budget proposal would increase border security funding by 65%, marking the largest investment in homeland security in history, a senior White House official said. The White House unveiled its $1.7 trillion budget for the 2026 fiscal year, proposing about $163 billion in cuts to domestic programs, as well as a 13%…Elizabeth Troutman Mitchell -
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Small Business Administration Chief Details Trump’s Carrot-And-Stick Economic Policies
At a Capitol Hill press conference Thursday, Kelly Loeffler, director of the Small Business Administration, laid out President Donald Trump’s carrot-and-stick strategy for returning manufacturing to the United States. Loeffler joined Sen. Joni Ernst, R-Iowa, and Rep. Roger Williams, R-Texas, to promote the Made in America Act, which would increase to $10 million the limit…George Caldwell -
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OPM Moves to End Grade Inflation for Top-Level Bureaucrats
The Office of Personnel Management announced a proposed rule Thursday morning to stop including diversity, equity, and inclusion metrics and end grade inflation on senior bureaucrats’ performance evaluations. The proposed rule aims to reform the Senior Executive Service performance appraisal system. For several years, more than 96% of bureaucrats in the SES, top-level agency employees…Bradley Devlin -
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EXCLUSIVE: Trump’s Transportation Department Cut $9.5B of Waste in 100 Days
FIRST ON THE DAILY SIGNAL—Secretary Sean Duffy is celebrating 100 days of prioritizing safety and efficiency at the Department of Transportation. “The Department of Transportation is focused on its core mission of safety and efficiency,” Duffy said in a statement shared with The Daily Signal. “Under this administration, America is building again—forging a future with…Elizabeth Troutman Mitchell -
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Hill GOP Budget Leaders in ‘Lockstep,’ Treasury Chief Bessent Says
“The House is moving things along quickly, and the Senate is in lockstep,” Treasury Secretary Scott Bessent told reporters Monday, in reference to the Republican budget reconciliation bill that is being ushered through Congress. The message of unity comes after the treasury secretary met with the top four Republican congressional leaders in the budget reconciliation…Jacob Adams -
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Newsom Touts Calif. as World’s 4th-Largest Economy on Paper as Real Jobs Fall
THE CENTER SQUARE—California Gov. Gavin Newsom says the state is now the world’s fourth largest economy. But after accounting for the high cost of goods and services, California only barely edges out low-performing Italy, with the state’s continued losses in private sector jobs amid falling corporate and sales tax revenue painting a darker picture of the Golden…Kenneth Schrupp -
- Opinion
The High Cost of Big Government—A Heist on Taxpayers
$521 billion. That’s the estimate the federal government itself put forward of annual fraud levels. That’s enough money to rebuild every crumbling bridge and school in the country—all squandered due to government incompetence. In fiscal year 2024, just 16 agencies reported improper payment estimates that totaled $162 billion—money lost to error, fraud, overpayments, or ineligible…Richard Stern -
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You Don’t Just Pay Taxes on April 15. Here’s a Hidden Tax That Picks Your Pocket All the Time.
The government doesn't just directly charge Americans in taxes—it also imposes a hidden tax that makes everything more expensive, according to a new report. The federal government doesn't just pass laws in Congress. Each year, many of the 438 federal agencies—nominally under the president's control through the executive branch—publish tens of thousands of pages in…Tyler O’Neil -
- Opinion
Virginia’s ‘DOGE’ Saves Taxpayers Millions
Editor’s note: For additional context for the story below, what would become Virginia’s Office of Regulatory Management began as a pilot program under Gov. Ralph Northam that covered two agencies. Under Gov. Glenn Youngkin, the pilot program was turned into an official agency and expanded to cover all agencies of the executive branch of Virginia…Joe Thomas -
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Americans Support Pulling Funds from Harvard, Taxing Endowments According to Poll
Americans are broadly supportive of the Trump administration’s battle with Harvard University, and majorities even support the federal government taxing the endowments of wealthy universities. This is according to a poll conducted by RMG Research and released by the Napolitan Institute on Wednesday. The major exception to the broad-based support for restricting funds to Harvard and…Jarrett Stepman -
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$5 Million on Trees, $300K to Trans Farmers: Brooke Rollins Shares Woke Agriculture Department Spending Cuts
The Department of Agriculture has worked with the Department of Government Efficiency to slash millions in woke spending projects, from a $300,000 contract educating queer and transgender farmers to $5 million to keep trees alive. “Probably the most stunning for me was the $500,000 grant to study transgenderism in mice,” Agriculture Secretary Brooke Rollins told…Elizabeth Troutman Mitchell -
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Here’s Why the World Economic Forum Is Investigating Its Own Founder
Klaus Schwab, the founder and chairman of the World Economic Forum, resigned on Easter Sunday amid a whistleblower report about alleged misuse of Forum funds, and the globalist organization’s board voted to launch an independent probe into allegations against him. “Following my recent announcement, and as I enter my 88th year, I have decided to…Tyler O’Neil -
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US Treasury Sanctions Iranian Shipping Magnate
President Donald Trump’s Treasury Department is sanctioning an Iranian national and his corporate network for what Treasury says is the laundering of hundreds of millions of dollars in illicit petroleum products “to evade U.S. sanctions and generate revenue for Iran.” Iranian shipping magnate Seyed Asadollah Emamjomeh has worked with companies affiliated with Iran’s Islamic Revolutionary…Elizabeth Troutman Mitchell -
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As Deals Advance, Farmers May Not Need Tariff Bailouts, Agriculture Secretary Hopes
As deals advance with foreign countries, farmers may not need bailouts from tariffs, Secretary of Agriculture Brooke Rollins told The Daily Signal. Rollins hopes deals will be “struck pretty quickly” with foreign countries facing Trump administration tariffs so bailouts to farmers will be unnecessary. “The economy has already begun to realign around putting America first,…Elizabeth Troutman Mitchell