A significant bill is moving through Congress. It aims to cut taxes by $3. 75 trillion. However, it could increase the deficit by $2. 4 trillion over the next ten years. This is according to the Congressional Budget Office (CBO). The CBO is a nonpartisan group that analyzes the budget. The bill could also lead to 10. 9 million more people being uninsured by 2034. Th...
The debate over healthcare for undocumented immigrants in California is heating up. Former Health Secretary Xavier Becerra has publicly opposed Governor Gavin Newsom's plan to limit free health insurance for immigrants without legal status. This proposal comes as California faces a significant budget shortfall. Newsom has blamed this deficit on President Donald Trump...
The Republican Party is in a pickle. They're trying to push through a big bill, but they can't agree on how to handle Medicaid. Some Republicans are worried about cutting Medicaid too much, while others want to slash spending to reduce the deficit. It's a tough spot for Speaker Mike Johnson, who's trying to keep everyone happy. The House Energy and Commerce Comm...
The political landscape is shifting, and with it, the approach to tax cuts. In the past, Republican tax cuts were often temporary. This was due to strict budget rules in Washington that limited how much could be added to the federal deficit. The strategy was to implement tax cuts and hope that Democrats would later vote to make them permanent. This time around, many...
The Dallas Police Department is facing a big challenge. They need more officers, but adding too many at once could cause problems. The department wants to hire 300 new cops by the end of this year, not 325. Why? Because hiring more than 300 would mean taking 40 officers off the streets to train the new recruits. That's a big deal because it could slow down response t...
Warwick Mayor Frank J. Picozzi has proposed the creation of a five-member budget commission to manage the city's school district finances. This move comes in response to a recently revealed $9 million deficit. Picozzi, who was just re-elected for a four-year term, wants to appoint three members with City Council approval, while the Warwick schools superintendent and ...
At his Senate confirmation hearing, Scott Bessent, President Trump's pick for the Treasury, revealed a worrying trend in the U. S. economy. he doesn't think America has a revenue problem, but rather, a severe spending issue. Bessent explained that this very problem prompted him to leave his quiet job and join Trump’s campaign. A mix of soaring borrowing costs, ongoi...
Austrian Chancellor Karl Nehammer decided to step down after attempts to form a new government fell apart for the second time. The People's Party, which Nehammer leads, ended negotiations with the Social Democrats, blaming "destructive forces" within the Social Democratic Party for the failure. The main dispute centered around addressing the country's significant bud...
British Columbia's Finance Minister Brenda Bailey recently announced a significant increase in the province's deficit. It has jumped by $429 million, hitting a record high of $9. 4 billion. This rise is mainly due to weak exports and higher expenses at home. Despite this, Bailey insists that the government will still go ahead with its plan to give a $1, 000 grocery r...
The credit ratings company S&P has issued a warning to Chicago Public Schools (CPS). They said how the district manages its upcoming contract with the Chicago Teachers Union (CTU) will impact its financial health for years to come. CPS needs to either find more money or cut costs. If they don't, their credit rating could drop. A lower rating means CPS would have to p...