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Spending

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Congress Rebuffs Trump's Deep Budget Cuts, Preserving Core Programs
politics10 days ago

Congress Rebuffs Trump's Deep Budget Cuts, Preserving Core Programs

President Trump proposed sweeping, historically deep cuts to many federal programs, but Congress largely blocked those plans for 2026, leaving education, health, housing and research programs funded at or near prior levels. Preliminary data show about $1.6 trillion in discretionary spending for 2026, only modest changes from 2025. While the White House used tools like rescissions and pursued unilateral budget maneuvers and thousands of federal workers were affected, lawmakers preserved funding for Pell Grants and housing vouchers and rejected sharp reductions for agencies such as Education, the EPA and NIH. The episode underscores the persistent political friction around austerity and the ongoing battle between the presidency and Congress over spending priorities.

via The New York Times|
#appropriations#budget#congress
politics28 days ago

Senate clinches deal to push funding package with seven amendments

The Senate reached a deal to vote on a broad government funding package, allowing seven amendments and a final passage vote to fund agencies through the fiscal year, plus a two-week DHS stopgap to buy time for negotiating guardrails on immigration. The House could act as soon as Monday to end the partial shutdown, but Sen. Lindsey Graham’s objections over related amendment language threaten the path forward.

via Politico|
#government#politics#senate
House Clears Broad Spending Package Amid ICE Controversy
politics1 month ago

House Clears Broad Spending Package Amid ICE Controversy

The House narrowly approved a broad government funding package—covering the Department of Homeland Security, the Pentagon and other agencies—while Democrats protested ICE funding in the wake of the Renee Good shooting; the bill rejects deep Trump cuts, keeps ICE funding roughly flat, and now moves to the Senate before a Jan. 30 deadline to avert a shutdown.

via The New York Times|
#appropriations#congress#ice
Trump's Second-Term Economy: Slow Hiring, Persistent Spending, Tariffs in Play
business1 month ago

Trump's Second-Term Economy: Slow Hiring, Persistent Spending, Tariffs in Play

In the first year of Trump’s second term, the economy showed resilience in spending and overall growth after a tariff-driven dip, but job creation slowed to its weakest pace outside recessions since 2003, keeping the labor market under strain while inflation remained above the Fed target. Federal employment fell sharply as efficiency measures trimmed payrolls, and while consumer spending stayed strong—though in a K-shaped pattern favoring higher-income households—the pace of hiring and policy uncertainty suggest risks to sustained growth ahead.

via Business Insider|
#business#federal-employment#inflation
Congress Spares Trump's Broad Spending Cuts, Keeps Programs Funded
politics1 month ago

Congress Spares Trump's Broad Spending Cuts, Keeps Programs Funded

Congress largely rejected President Trump’s request for deep, sweeping budget cuts, passing bipartisan funding bills that keep most federal programs funded and only modestly trim a few, including maintaining NASA and NSF funding and preserving Voice of America, the National Endowment for Democracy, and the National Endowment for the Arts. The House approved funding for State and Treasury and foreign aid with more than Trump’s request but below current levels, and eight of twelve appropriation bills have moved forward as lawmakers race toward a Jan. 30 deadline. The White House’s attempt to cancel IRS funding was blocked, while disagreements remain over Homeland Security and immigration policy.

via The New York Times|
#appropriations#congress#foreign-aid
politics1 month ago

Johnson pushes a second party-line megabill as GOP battles ripple through Capitol

House Speaker Mike Johnson remains bullish about pursuing a second party-line budget reconciliation package, holding meetings with GOP leaders amid skepticism from some committee chairs. In parallel, Republicans push a DHS funding bill with explicit ICE body-camera funding, advance a stock-trading restrictions measure on party lines, and navigate a two-bill spending package through the House as floor chaos and defections threaten votes. Other stories include ongoing investigations into Slotkin and Hillary Clinton, talk of Venezuela war powers, and the possibility of shelving the Save Local Business Act amid a pro-labor revolt, all signaling a turbulent Capitol ahead of looming funding deadlines.

via Politico|
#budget-reconciliation#congress#immigration
US Consumer Confidence Declines to Lowest Level Since April
economy2 months ago

US Consumer Confidence Declines to Lowest Level Since April

US consumer confidence has declined for the fifth consecutive month in December, driven by pessimism about the labor market and business conditions, with concerns over inflation, tariffs, and politics weighing on consumers. Despite a strong Q3 economic expansion, consumer sentiment remains subdued, and economists expect tepid hiring and little improvement in unemployment in 2026, which could further impact confidence and spending.

via Bloomberg.com|
#consumer-confidence#economy#inflation