All articles tagged with #fiscal reforms
A strategist predicts the S&P 500 will reach 7,500 by next spring, driven by technological advances, fiscal reforms, and a structural economic reset, amid ongoing bullish market momentum and increased digital asset integration.
Senate conservatives, led by Sens. Rick Scott, Mike Lee, Ron Johnson, Ted Cruz, and Mike Braun, are pressuring Senate Republican Leader Mitch McConnell to demand major fiscal reforms in any bill to raise the debt ceiling, in line with Speaker Kevin McCarthy's position. McConnell is being urged to stick closely to McCarthy despite efforts by Democrats to divide the two GOP leaders. McConnell has declared that the US will not default, but conservatives are wary he may agree to a deal with Democrats to prevent a default.
Speaker Kevin McCarthy is pressuring President Biden to negotiate a package of fiscal reforms in exchange for raising the debt limit, but Democrats refuse to sit down with him, setting the stage for a high-stakes standoff this summer. McCarthy laid out his first broad proposals for spending reforms in a letter to Biden, calling for cutting nondefense discretionary spending, reclaiming unspent COVID-19 relief funding, strengthening work requirements for social safety net programs, and creating policies to lower energy costs and secure the U.S.-Mexico border. Democrats say they won’t negotiate with McCarthy until he shows he has the votes to pass a package of fiscal reforms with top-line spending numbers.