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
Radical Tax Hikes Will Accelerate PA’s Outmigration
Gov. Josh Shapiro keeps repeating the claim that Pennsylvania is the only growing state in the Northeast. But that’s not true. Residents continue to leave Pennsylvania for greener pastures. New data from the Internal Revenue Service shows that Pennsylvania lost 15,000 residents on net to other states in 2023. Those residents took with them $2.3 billion… -
news
US Job Growth Accelerates by the Most in 15 Months in March
WASHINGTON, April 3 (Reuters)—U.S. job growth rebounded sharply in March as a strike by health care workers ended and temperatures warmed up, but downside risks for the labor market are mounting from a war with Iran that has no clear end in sight. The biggest increase in nonfarm payrolls in 15 months was reported by… -
opinion
Time to Leave the Social Security Plantation
To repeat what Americans have heard a lot recently, our Social Security system is in very bad shape. Per the most recent report, in 2025, of the Social Security and Medicare board of trustees, Social Security is capable of paying out the entirety of promised benefits through 2033. After that, there is only the capability… -
news
Republicans Divided on Budget Reconciliation Gamble for SAVE America Act
Republicans are turning to budget reconciliation to pass the SAVE America Act into law, but some doubt the process will result in the election integrity measures offered in the current version of the bill. “There’s a lot of support for a budget reconciliation bill,” Majority Leader Thune, R-S.D., told press this week. While the budget… -
news
Budget Chairs Push Reconciliation 2.0. Can It Get Off the Ground?
Republican Sen. Lindsey Graham says a party-line budget bill could enact major conservative legislative goals, from funding the Department of Homeland Security to requiring photo identification in elections. But does his ambitious plan have buy-in from the House conservatives whose support it needs to pass? “The Senate [Budget] Committee will expeditiously move toward creating a… -
news
EXCLUSIVE: Social Security Penalty Could Be Eliminated Under Rick Scott’s New Bill
A Senate Republican aims to “keep” the “aging community out of poverty” by introducing legislation on Wednesday that would allow Social Security recipients to be able to seek additional income and employment. The Senior Citizens Freedom to Work Act, authored by Sen. Rick Scott, R-Fla., would repeal “outdated” provisions, such as the Retirement Earnings Test,… -
news
WATCH: Colombia’s Sweet Strategy to Defeat the Cocaine Trade
MIAMI—Colombian officials are working to eliminate the nation’s illicit cocaine trade and replace it with chocolate. “We say to the world, ‘Please buy cocoa, not coca,’” Defense Minister Pedro Arnulfo Sanchez told The Daily Signal at the Miami Security Forum. Thousands of acres of farmland in Colombia have been converted from growing coca crops, the… -
opinion
A Tariff Ceasefire in Time of War Would Help Everybody
TOWNHALL—Iran’s efforts to close the Strait of Hormuz have made gas prices rise to the point where they may threaten President Donald Trump’s affordability agenda. Whether the closure is short or long, consumers are feeling the pain, just as the latest economic figures show an economy that is sputtering and can use a boost. But… -
news
Treasury’s Bessent Says US Has ‘Plenty’ of Funds for Iran War
WASHINGTON, March 22 (Reuters) — The U.S. government has “plenty of money” to fund the war against Iran, but is requesting supplemental funding from Congress to ensure the military is well supplied in the future, U.S. Treasury Secretary Scott Bessent said on Sunday. Bessent, speaking on NBC News’ “Meet the Press” program, also ruled out… -
news
Jeanine Pirro Slams ‘Activist’ Judge for Blocking Subpoenas Against Fed Chair Powell
A federal judge on Friday blocked subpoenas issued by the Justice Department as part of its criminal investigation into Federal Reserve Chair Jerome Powell’s handling of renovations of the central bank’s Washington headquarters. U.S. Attorney for the District of Columbia Jeanine Pirro, an appointee of Republican President Donald Trump whose office is spearheading the investigation, promised… -
news
‘RIPPING US OFF’: Tim Burchett Blames Oil Companies’ ‘Greed’ for Higher Prices
A House Republican appeared to take a page out of Democrats’ playbook, blaming the “greed” of oil companies for increased oil prices, even as an oil trade association attributed the spike to the conflict in Iran. “Just fueled up the dually with diesel yesterday, I decided to do that instead of sending my daughter to… -
news
GOP Considers Last-Ditch Affordability Effort Ahead of Midterms
House Republicans are gathering in Doral, Florida, this week to strategize ahead of a sprint to the midterms. As affordability remains a top concern for Americans, Republicans are mulling a second budget reconciliation, a second “Big, Beautiful Bill,” that looks to deliver on affordability and other priorities of President Donald Trump. “One of the things… -
news
Why the Department of Transportation Is Asking Americans to Travel in 2026
“Celebrate your country by seeing your country.” With that message to Americans, Transportation Secretary Sean Duffy kicked off a new national campaign Friday at Union Station in Washington, D.C.—one designed to remind Americans that the freedom to move has always been at the heart of the American story. As the nation celebrate its 250th birthday this year, the U.S. Department of Transportation unveiled “Freedom… -
news
After Supreme Court Ruling, Tariff Refund Battle Just Beginning
The Trump administration will pay interest on refunds for global tariffs if ordered to do so, according to a court filing on Wednesday. U.S. officials have not committed to full refunds on the money collected from tariffs, as President Donald Trump has said he would find other laws to continue his tariffs. However, litigation and negotiations… -
news
Walz Defends Continued Welfare Payments During Fraud Probe
House Republicans on Wednesday grilled Minnesota Gov. Tim Walz and Attorney General Keith Ellison about the state’s $9 billion fraud scandal and allegations that whistleblowers faced retaliation. The hearing of the House Oversight and Government Reform Committee comes a day after the panel released a report alleging that Walz and Ellison were aware of welfare… -
news
‘YOUR DAY WILL COME’: Democrat Vows Retribution Against ICE While Sponsoring Bill to Block Agents From Getting Jobs
The White House has joined with the top Republican in the Colorado House of Representatives in condemning bills seeking to prevent any Immigration and Customs Enforcement agent from joining state and local police, and to make ICE agents liable for alleged violations of constitutional rights. “ICE officers are facing a 1300% increase in assaults because… -
news
US Tariff Lawsuits Returned to Trade Court to Determine Next Steps
REUTERS—A U.S. appeals court on Monday returned the lawsuits that led to most of President Donald Trump’s tariffs being struck down to the U.S. Court of International Trade, which could determine the process for refunding more than $130 billion to importers. The U.S. Court of Appeals for the Federal Circuit issued a one-page order granting the… -
news
Courts Split on Role IRS Can Play in Immigration Enforcement, Data Sharing
In the span of two days, courts have issued somewhat conflicting rulings about what the Internal Revenue Service can do to assist the Trump administration’s immigration enforcement efforts. On Thursday, U.S. District Judge Colleen Kollar-Kotelly for the District of Columbia determined that almost 43,000 addresses the IRS shared with Immigration and Customs Enforcement last August… -
news
Future of SAVE America Act in Limbo as Senate GOP Turns to Housing
In the wake of President Donald Trump’s State of the Union, the Senate GOP says they “look forward” to getting straight to work implementing the aggressive legislative agenda the president laid out in the speech. Foremost among the president’s priorities is the SAVE America Act, which would secure America’s elections by requiring proof of citizenship to register to… -
analysis
A Legal Analysis of the Supreme Court’s Tariff Ruling
The Supreme Court has struck down President Donald Trump’s use of the International Emergency Economic Powers Act to impose tariffs by a vote of 6-3, with Chief Justice John Roberts writing for the majority. Notably, the majority opinion made clear: “We claim no special competence in matters of economics or foreign affairs. We claim only,…