Congress

House and Senate negotiators agreed on the framework of the GOP tax bill this morning. We know some things about it. The bill will lower the corporate income tax rate to 21 percent. It will let people deduct some state and local taxes. It will lower the top individual income tax rate. President Donald Trump […]

President Donald Trump signed the National Defense Authorization Act today. It calls for around $700 billion in defense spending for fiscal year 2018. That would blow right through the spending caps Congress agreed to back in 2011. Congress has to vote to modify those caps, if it wants to spend this much money on defense. […]

Environmental Protection Agnecy head Scott Pruitt is scheduled to testify before Congress today. ((Thurs)) The oversight hearing before the House Energy and Commerce Committee will focus on how he’s managed the agency since taking the reins. Questions will come from Republicans and Democrats. What’s he likely to face?  Click the audio player above to hear […]

Now that the House and Senate have each passed their own version of a sweeping tax bill, everyone is going to have to work out what the proposed changes means for the rest of us. And the lawmakers have still to iron out some key differences. Click the audio player above to hear the full […]

Funding for the Children’s Health Insurance Program ran out at the end of September, meaning millions of kids and pregnant women won’t have coverage in the new year. There are bills in Congress that would fund the program, but nobody can agree where to get to money to do it. The $15 billion program funnels […]

The GOP tax cuts may add about 0.8 percent to GDP growth during the next 10 years, according to several budget models. But that’s economic growth for an economy that’s already heating up. And you know who you call when the economy gets too hot? The Federal Reserve. It’s the Fed’s job to come in […]