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Congress

Raising the Debt Ceiling

Yellen: U.S. could hit debt limit as soon as June 1

by Associated Press
May 1, 2023
The treasury secretary urges Congress to protect nation’s “full faith and credit” by raising the government’s borrowing authority.
In a letter to House and Senate leaders, the treasury secretary urged Congress “to protect the full faith and credit of the United States by acting as soon as possible.”
Stefani Reynolds/AFP via Getty Images
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Amtrak wants $3.6 billion in subsidies. It probably won't get all of that

by Henry Epp
Mar 31, 2023
It's asking for 50% more funding than it received for the current fiscal year.
The rail service provider asked for a whopping $3.6 billion this fiscal year from Congress, which is more than it has ever gotten in its 50-plus years.
Spencer Platt/Getty Images
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COVID-19

Moderna will charge around $130 for its COVID vaccine — and Congress isn't too happy

by Kimberly Adams
Mar 22, 2023
But the pharma company promised that individuals won't pay the full amount.
Moderna CEO Stephane Bancel listens to Sen. Bernie Sanders during a committee hearing on the price of COVID vaccines.
Stefani Reynolds/AFP via Getty Images
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Raising the Debt Ceiling

Biden's budget and GOP response offer up a sneak preview of next year's campaign issues

by Kimberly Adams
Mar 10, 2023
The budget is a policy document, but this one's also a campaign document.
President Biden talks about his proposed FY2024 federal budget during an event in Philadelphia on March 9.
Chip Somodevilla/Getty Images
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Buckle up for a big economics week in Washington

by Nancy Marshall-Genzer
Mar 6, 2023
Fed Chair Jerome Powell testifies on Capitol Hill tomorrow and Wednesday. President Biden is set to release a budget outline on Thursday, and we get February jobs numbers this Friday.
Above, Federal Reserve Chair Jerome Powell testifies to Congress in June. He's slated to appear before lawmakers again this week to discuss the central bank's activities and a range of economic issues.
Win McNamee/Getty Images
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Teachers are underpaid. Is that changing?

by Stephanie Hughes
Mar 3, 2023
At least two dozen states — and Congress — have either proposed or enacted laws to increase teacher pay in the past couple of years.
At least two dozen states, plus Congress, have proposed or enacted laws to boost teacher pay in recent years.
Olivier Touron/AFP via Getty Images
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Raising the Debt Ceiling

What's really behind concerns about government overspending?

by David Brancaccio , Ariana Rosas and Jarrett Dang
Feb 9, 2023
The current debt ceiling fight reflects old concerns about government debt, says economist Michael Boskin.
House Speaker Kevin McCarthy, above, is a player in the debt ceiling issue. Economist Michael Boskin, who led the Council of Economic Advisers under the first President Bush, says the current debt battle reflects concerns about excessive government spending.
Drew Angerer/Getty Images
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State of the Union speech is Biden's chance to sell his economic record to skeptical Americans

by Kimberly Adams
Feb 7, 2023
President Biden is likely to tout the strong job market and recovery from the pandemic recession.
President Joe Biden delivers his 2022 state of the union address to Congress. This year, president is likely to talk progress on inflation and other economic matters.
Sarahbeth Maney-Pool/Getty Images
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Raising the Debt Ceiling

The origin of the U.S. debt ceiling

by Kai Ryssdal and Maria Hollenhorst
Jan 19, 2023
The U.S. government hit its debt ceiling Thursday and must raise the debt limit to avoid defaulting. How did we get here?
With the debt ceiling reached, the U.S. Treasury initiated "extraordinary measures" to avert a government default.
Anna Moneymaker/Getty Images
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Federal labor board lobbies for additional funding, staffing resources as Congressional deadline looms

by Dylan Miettinen
Dec 15, 2022
The NLRB warns that no increase in funding could result in agency furloughs.
The National Labor Relations Board's funding has flat-lined since 2014. Now, labor advocates are hoping Congress appropriates more funds for the independent federal agency.
Stefani Reynolds/Getty Images
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