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
‘Gross Misuse of Federal Funding’: Trump Admin Blocks Payments to ‘Obviously Fraudulent’ Los Angeles Homeless Agency
The Department of Housing and Urban Development under President Donald Trump announced an “immediate suspension” on all funding to the Los Angeles Homeless Services Authority, citing a “clear pattern of fraud.” “Year after year, hundreds of millions of taxpayer dollars were funneled to LAHSA with little accountability,” HUD Secretary Scott Turner said in a statement… -
opinion
America, the Hedge Fund
From its beginnings, America has thrived on a tradition of separation between government and private industry. But having just emerged from the Biden era, with its heavy-handed regulation of energy, automotives, and appliances, the U.S. is now entering a new period in which the government is becoming a strategic shareholder. The idea, ostensibly, is to… -
news
Trump Team Cuts $4 Million in Pro-Illegal Immigrant, DEI, and Green Energy Services
The Department of the Interior has terminated 43 partnerships with outside organizations that it says no longer align with the Trump administration’s priorities, eliminating more than $4 million in planned funding for programs tied to diversity, equity, and inclusion; environmental justice; and services for illegal immigrants. Led by Secretary Doug Burgum, the department determined the… -
opinion
Congress Must Use Reconciliation to End the Fed’s Interest on Reserve Payments
The cost of living has risen to unsustainable levels for millions of working Americans. Delivering immediate relief by lowering these costs and restoring affordability is essential. The first step is using budget reconciliation in the coming weeks to enact targeted spending reforms and structural changes that put money back in the pockets of families. Few… -
news
$22 Million Gun Factory Relocates From Virginia to Georgia Over ‘Anti-Gun’ Legislation
On Wednesday, Georgia Gov. Brian Kemp announced a firearms manufacturer will leave the state of Virginia over new “anti-gun legislation” and relocate to Georgia, bringing a $22 million investment and employing hundreds of residents. “Georgia attracts job creators from all over the country and world because we work with them, not against them,” Kemp said…. -
news
Can Republicans Pull Off One Last Big Bill Before August? Pfluger Says They Can
After nearly a year, House Republicans are finally gaining momentum on Reconciliation 3.0, an affordability, anti-fraud bill that has the potential to save the party in the midterms. With their self-imposed deadline of “before the end of summer”—meaning before campaign season ramps up in August—the window isn’t open long. Republican Study Committee Chairman August Pfluger,… -
opinion
New Polling: Hispanics Are Angry at the Economy, Strong on Immigration Enforcement
By giant margins, a new national poll of Hispanics shows that these citizens have soured on President Donald Trump and the Republican Party, with the economy driving the dissatisfaction—not immigration enforcement. In fact, when apprised of the reality of Trump’s immigration agenda, Hispanics approve. When asked what concerns them more—high prices or Immigration and Customs Enforcement and immigration… -
opinion
How Reconciliation Can Help Reduce SNAP Fraud and Waste
Waste, fraud, and abuse in the welfare system have been on full display for the last several months, giving Congress a clear opportunity for reform. As lawmakers consider another budget reconciliation, they should prioritize improving the Supplemental Nutrition Assistance Program, one of the federal government’s largest welfare programs. First, Congress could eliminate a major loophole… -
news
Ohio, Feds Ramp Up Joint Fight Against Fraud
Last Thursday, members of President Donald Trump’s administration met in Columbus, Ohio, to discuss the Buckeye State’s ongoing fight against fraud. Ohio is the first state in the country to share corporate registration records with the Department of Justice’s National Fraud Detection Center, granting investigators immediate access to important information. The announcements made last week… -
news
Hispanic Voters Send GOP a Warning—and Reveal a Path Back
A new national survey of registered Hispanic voters points to a challenge for Republicans and a potential path to rebuilding support ahead of the midterm elections. Democrats held a 16.1-point advantage on the congressional generic ballot in the Wick survey of 1,000 registered Hispanic voters. The results also show that economic concerns are dominating voters’ priorities: A… -
opinion
California: The Land of Regulation
California’s punishing cost of living isn’t inevitable—it’s policy-driven. Burdensome regulations have sent housing and energy prices soaring, crushing incomes and deepening poverty. Smarter deregulation could bring back the Golden State’s long-lost affordability and historic role as a “land of opportunity.” In 2024, California had a poverty rate of 17.7%, meaning about 7 million people were… -
opinion
Bureaucrats in the Way of Business
Is your business “needed”? Bizarrely, in many states, if you want to start a business, you first must convince bureaucrats that your business is “needed.” Four years ago, Louisiana blocked social worker Ursula Newell-Davis from helping kids with special needs. Bureaucrats said she hadn’t proved her business was needed. “Why does the state of Louisiana… -
opinion
How Do Federal Government Employees Get Away With Not Paying Their Taxes?
We have known for some time that our federal employees have cushy lives compared to the people for whom they work (us). What is particularly infuriating is that so many of them either don’t pay their taxes or are seriously delinquent on what they owe their employer—the federal government. Recently, the Treasury Inspector General for… -
opinion
No Great Expectations for New Jersey’s Businesses
It was the based of times, it was the woke of times, it was the age of candor, it was the age of cant, it was the epoch of sense, it was the epoch of pretense. And it was the season when firms started moving from high-tax, high-cost blue states to freedom-loving red states. ExxonMobil’s… -
exclusive
AFP Action Continues to Fight for Sen. Jon Husted Ahead of Special Election in Ohio
FIRST ON THE DAILY SIGNAL—With the midterms less than five months away, Americans for Prosperity Action is engaged in another ad campaign in support of Sen. Jon Husted, R-Ohio, ahead of his special election. Husted, who was appointed to office by Gov. Mike DeWine in January 2025 to replace Vice President JD Vance, is facing… -
news
Job Market Notches Third Straight Month of Solid Growth
REUTERS–The U.S. economy posted a third straight month of strong job gains in May, confirming the labor market was gaining traction after stumbling last year and giving the Federal Reserve more room to keep interest rates unchanged amid rising inflation due to the war in the Middle East. The closely watched employment report from the… -
news
DHS Secretary Blasts Senator for Calling ICE Unconstitutional: ‘If You Don’t Like the Laws, YOU Can Change Them’
Department of Homeland Security Secretary Markwayne Mullin fired back at Sen. Chris Murphy, D-Conn., during a Senate Appropriations subcommittee hearing over claims that Immigration and Customs Enforcement is lawless, dangerous, and unconstitutional. “We’re doing the job that Congress gave us the authority to do,” Mullin said. “If you don’t like the laws, you can change… -
news
A New Congressional Plan to Save $1.5 Trillion and End Abortion Funding
The Heritage Foundation released its version of Reconciliation 3.0, a new plan to end federal funding for abortion, combat fraud, and save America $1.5 trillion. The leading conservative policy institute on Wednesday unveiled “Setting the American Opportunity Agenda,” a special budget and spending report for Congress, and House Speaker Mike Johnson said he is ready… -
opinion
Restoring Affordability Starts With Modernizing America’s Freight Network
Americans are still reeling from years of inflation and supply chain disruption. Families are paying more than ever before for groceries, appliances, vehicles, and countless everyday goods. Washington talks constantly about affordability, but one of the most practical ways to lower costs rarely gets enough attention: making it cheaper and faster to move products across… -
opinion
California Was a Paradise, Then Newsom Happened
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. People talk about the California disaster, but I don’t think we fully appreciate the severity and the manifestations of…