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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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 -
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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 -
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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 -
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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 -
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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 -
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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 -
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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 -
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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 -
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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 -
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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 -
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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 -
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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 -
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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