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
The Trump Administration Is Making Sure America’s Safety Net Is for Americans
For at least 30 years, the American welfare state has become a global magnet for immigrants, both legal and illegal, despite longstanding law to prevent exactly that. Since the late 19th century, federal law has barred any immigrant likely to become a public charge from entering the country. In 1996, with bipartisan support, Congress declared… -
opinion
Why Would Congress Want to Punish People for Their IRA Savings?
Sen. Ron Wyden, D-Ore., and Rep. Richard Neal, D-Mass., rolled out the Retirement Fairness for Working Americans Act this week, and the name alone tells you how Washington sells a bad idea. There is nothing fair about capping retirement accounts and forcing selloffs on people who did exactly what the tax code told them to… -
news
‘Ghost Students’ Defrauded Utah Taxpayers of Almost $1 Million
According to a recent report from the Utah legislative auditor general, the state’s higher education system lost over $830,000 in recent years to “ghost students” who apply to receive financial aid and run off with the money without pursuing a degree. “Institutions reported disbursing $834k to suspected fraudulent applicants and spending over 15,000 hours working… -
opinion
The SEC Moves to Repeal Its Ridiculous Climate Disclosure Rule
The Securities and Exchange Commission recently introduced a proposal to rescind its 2024 rule requiring companies to report extensive data on climate change, a much-needed move that will benefit Americans. Everyday citizens can and should use the SEC’s rulemaking portal to comment in support of this proposal. But first, it is worth revisiting the 2024… -
news
Trump-Backed Budget Skims Past House
The House of Representatives on Wednesday passed a concurrent budget resolution package, that sets the framework and instructions for what has been dubbed Reconciliation 3.0. The $95 billion framework would provide new spending for the military, intelligence and agriculture. The package also contains the SAVE America Act, a key legislation that would require proof of… -
news
The House Bans Insider Trading and Passes Voter ID
Congress just passed two major Republican efforts in one bill. The Stop Insider Trading Act, meant to stop members of Congress from profiting from the stock market based on insider knowledge, included the SAVE America Act. The legislation passed Wednesday evening, 232-198, with 13 Democrats joining Republicans to pass it. The Stop Insider Trading Act… -
news
Congress Wants to Overturn This SCOTUS Ruling
Earlier this year, the Supreme Court protected pesticide companies, ruling that they are protected from liability even if they leave off a warning label. A new bipartisan bill hopes to change this and hold manufacturers accountable. Rep. Anna Paulina Luna, R-Fla., joined a bipartisan group of members of Congress on Tuesday to introduce the Americans… -
opinion
Keep Chinese Humanoid Robots Out of US Markets
The United States is about to import the next generation of surveillance technology—not in the form of apps or routers but embodied in humanoid robots built by Chinese companies. These machines could become the next frontier of Chinese Communist Party surveillance, and Washington shouldn’t let them flood the U.S. market. Humanoid robots are programmed to… -
opinion
Socialism, Federalism, and the Future of the Electoral College
In the early 20th century, two of England’s intellectual giants engaged in a series of debates. Playwright George Bernard Shaw was the resident apologist for income redistribution and central planning. G.K. Chesterton, a Catholic writer, argued in favor of property rights and the decentralization of political power. “I found they were utterly insensate and grotesque,” Shaw… -
news
Trump Administration USPS Wins Key Court Fight Over Mail-In Ballot Oversight
The Trump administration scored a partial court victory on election integrity in a case involving mail-in ballots and voter rolls. A three-judge panel of the U.S. Court of Appeals for the District of Columbia Circuit on Friday paused a lower court ruling against a U.S. Postal Service rule that conditioned delivery of mail-in ballots on… -
opinion
Gavin Newsom’s Hollywood Bailout
Gov. Gavin Newsom spent the past year celebrating a massive expansion of California’s Hollywood tax credit program, boosting it to a record $750 million a year. Then his own budget managed to kneecap it. Now Sacramento is scrambling to fix one of the governor’s biggest political headaches. More than three dozen California lawmakers—including senior Democrat… -
opinion
Colonial America Already Ran the Socialist Experiment. It Failed.
New York City Mayor Zohran Mamdani told ABC’s Jonathan Karl last month that a democratic socialist can win any office in the country. He may be right about the contemporary politics, but he is dead wrong about the underlying economics, and Colonial America proved it four centuries before he took the oath of office. The… -
opinion
Red Flag Case Studies Highlight Corporations Putting Shareholder Value at Risk
When corporate governance experts speak about “red flags,” they are typically referring to information signaling a problem at a corporation that warrants additional oversight. As a related law firm memo on Delaware law notes: “The duty of oversight requires directors to … take action to address red flags that indicate potential corporate wrongdoing.” As a… -
news
Mixed Messages From Virginia’s Economy
When it comes to Virginia’s economy, the glass may be half full, or it may be half empty. First, some bad news: In the year that ended May 31, Virginia lost 51,400 jobs. That is the most jobs lost by any state. A good share of those jobs, about 40%, were caused by federal government… -
exclusive
These 2 Companies Control 90% of a Critical Market. Now Congress Wants Answers.
FIRST ON THE DAILY SIGNAL—Two private companies currently dominate more than 90% of the proxy advisory market, controlling significant influence over corporate America, and Rep. Ronny Jackson, R-Texas, is demanding answers. In a letter obtained by the Daily Signal to acting Attorney General Todd Blanche and Andrew N. Ferguson, chairman of the Federal Trade Commission, Jackson points to specific examples of… -
news
$50M in REAL ID Grants Could Provide Path for Passing SAVE Act
A $50 million federal grant program to help states implement REAL ID could be a way to pass parts of the SAVE America Act, a sweeping election integrity proposal. “We are using every tool to get the SAVE America Act passed,” Rep. Julie Fedorchak, R-N.D., told the Daily Signal, a co-sponsor of the proposal. “This… -
news
Arrington Says the Clock Expired on Blocking Abortion Funding. Hawley Says Congress Has No Excuse.
House Republicans have been discussing reconciliation for months, with one consistent priority: reinstating the ban on federal funding for abortions. However, the budget resolution to kick-start the reconciliation process, released Wednesday morning, included no directive to block the funding. House Republicans introduced the $95 billion budget resolution with two goals in mind: pass the SAVE… -
news
Watchdog: Maryland’s Weak Controls Put Millions of Federal Tax Dollars at Risk
FIRST ON DAILY SIGNAL—Maryland officials struggled to keep track of hundreds of millions of dollars in federal funding, according to an analysis of state financial data. An audit found the state’s transportation department misreported $417 million, the Department of Human Services poorly tracked more than $200 million in funding, and other agencies committed similar accounting… -
news
A Growing Problem on America’s Roads Is Finally Getting Attention
Foreign-born truckers who illegally immigrated to the United States are receiving inadequate driving instruction, taking jobs away from American workers, and endangering the lives of fellow drivers. That’s the message of a new documentary from Steve Cortes called “Collision Course: Illegal Migrant Truckers.” Cortes, a Daily Signal contributor and founder of the League of American… -
news
Vivek Ramaswamy Discusses Crucial Role Jobs Will Play in Election Upon Receiving Key Endorsement
Vivek Ramaswamy, the Republican nominee for governor in Ohio, on Tuesday received the Chamber of Commerce PAC endorsement. It’s an endorsement that Ramaswamy teased is just one of many to come. Early on in his remarks, Ramaswamy addressed the American dream. He said he knows it exists because of his own experience. “I know it…