By using reconciliation, which was originally intended to rein in deficits, Republicans can pass the bill with a simple majority vote. But analysts expect it to lead to larger deficits.
- Daniel Patrick Moynihan Senior Lecturer in Public Policy and Public Finance, Harvard Kennedy School
The commerce secretary manages a sprawling organization including trade, fisheries, weather forecasting and cutting-edge AI research.
Since the 1930s, the federal government has made payments to victims of financial hardships and social injustices. But for those suffering from the harms of slavery, the US remains silent.
If the US fails to increase its debt ceiling by June 1, it could be forced into an embarrassing – and hugely costly – default on its obligations.
House Speaker Kevin McCarthy agreed to raise the debt ceiling – and avoid an unprecedented US default – but only if Democrats agree to freeze spending and agree to several other demands.
House Speaker McCarthy wants to put the US on a path to a balanced budget as debt ceiling negotiations begin with President Biden. Here’s why it won’t be easy to repeat what Bill Clinton accomplished.
When something is free, people use a lot of it. Economists are urging governments to compute values for natural resources – wildlife, plants, air, water – to create motives for protecting them.
The Trump administration has cut funding for infectious disease research and reduced high-level staffing for global health security, leaving the nation less prepared for major outbreaks.
Congress may have averted a shutdown, but don’t get too excited, warns a Harvard budget expert. The deal isn’t sustainable long term.
In past wars, taxes were increased to cover some of the extra spending. That’s not the case for the war in Iraq and Afghanistan, and the costs are adding up fast.
A study estimates that Americans would pay $92 billion yearly in extra taxes to protect national parks. But the Trump Administration’s budget calls for cuts.
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