A weekend away from Washington did little to soften Senate Democrats’ resolve as they again blocked Republicans’ effort to reopen the government, ensuring the shutdown will last at least a week. Senate Minority Leader Chuck Schumer, D-N.Y., and most of his caucus are adamant that unless a deal is struck on expiring Affordable Care Act (ACA) tax credits, commonly known ...
A Senate Republican argued that Senate Democrats are demanding tens of millions of dollars in foreign aid for LGBT projects, pastry cooking classes, electric buses and more in exchange for reopening the government. Senate Democrats, led by Senate Minority Leader Chuck Schumer, D-N.Y., have remained steadfast in their position that unless a deal is struck to extend expiring Obamacare tax ...
The Vatican’s top diplomat on Monday condemned both Hamas’ ‘inhuman and indefensible’ Oct. 7 attacks and Israel’s ‘ongoing massacre’ in Gaza, warning that even legitimate self-defense cannot justify the destruction of a ‘largely defenseless population.’ Cardinal Pietro Parolin, the Vatican’s secretary of state and one of Pope Leo XIV’s advisers, spoke in an interview marking the second anniversary of Hamas’ ...
Solveig Singleton and Jerome Famularo Financial service products and markets are complex, which is partly why some insist that consumers need the Consumer Financial Protection Bureau (CFPB). Ironically, the CFPB itself has failed to appreciate this complexity, enacting rules that do more harm than good because of unintended consequences. This post, the third in a series on CFPB reform, surveys ...
Rachel Reeves is poised to unveil a package of planning reforms and tax increases in her first full Budget on 26 November, as the Chancellor faces the daunting task of closing a £30 billion shortfall in the public finances. The Treasury is said to be exploring a range of measures to stimulate growth while raising revenue, including restoring the bank ...
This government shutdown isn’t President Donald Trump’s first rodeo navigating a lapse in government funding — but this time, the focus is less on the White House as all eyes are locked on Congress and its budget impasse. While the 35-day shutdown during Trump’s first term centered around the president’s priorities to fund a border wall between the U.S. and ...
House Speaker Mike Johnson, R-La., dismissed the top House Democrat’s demand for a primetime debate on the government shutdown. Minority Leader Hakeem Jeffries, D-N.Y., wrote to Johnson on Monday morning challenging him to a debate on the House floor ‘any day this week,’ to be broadcast live ‘to the American people.’ Johnson suggested he would not entertain that, however, calling ...
The government shutdown entered its sixth day on Monday, and Senate Democrats are so firmly planted in their position that unless there is a deal on expiring Obamacare tax credits, they will not reopen the government. Senate Minority Leader Chuck Schumer, D-N.Y., and his caucus have largely remained unflinching in their demand that Republicans and President Donald Trump agree to ...
Nicholas Anthony This year is the 55th anniversary of the Bank Secrecy Act. At the 50th anniversary, Michael J. Casey wrote in the Cato Journal about how “the system’s pervasive identifying, tracking, and reporting of transactions imposes very real costs on the global economy.” It’s been five years, and things have largely gotten worse. Banks filed 27.5 million reports and spent ...
Jeffrey Miron In a recent Washington Post op-ed, tax policy expert Scott Hodge reminds us that many universities engage in numerous activities that are tax-exempt but have only an indirect or modest connection to education: According to the latest Internal Revenue Service tax data … the top 100 private colleges generated $207 billion of revenue in 2023. Roughly 80 percent ...