This past Thursday marked a significant, albeit precarious, milestone for the Republican leadership with the narrow passage of President Donald Trump’s “big beautiful bill” in the House of Representatives. Winning by a slim margin of 216-214, the accomplishment was less a celebration than a siren call of desperation. Striking deals with a cadre of dissenting
Politics
In 2025, an unsettling revelation emerged: the top 25 state and local pension funds witnessed a staggering depreciation in the value of their public equities investments totaling nearly $250 billion. The implications of this financial catastrophe can’t be overstated. This isn’t merely a matter of numbers; these losses ripple through state and local economies, affecting
The political atmosphere in Washington, D.C., is not just charged; it’s a brewing fiscal storm. The city’s financial health hangs by a thread, with a staggering $1.1 billion deficit looming due to a missing budget provision after the recent continuing resolution (CR) passed by the House. This oversight isn’t merely a bureaucratic hiccup; it signals
The discourse surrounding tax-exempt municipal bonds in Congress is heating up, with implications that extend far beyond mere fiscal mechanics. Academics from prestigious institutions, including Justin Marlowe from the University of Chicago and Martin Luby from the University of Texas, have come forward with a cautionary policy brief that underscores a critical issue: cutting the
The recently passed fiscal 2025 budget resolution is projected to be an explosive catalyst in U.S. economic policy, unfortunately not in a positive sense. Though positioned as a vehicle for tax cuts and spending reductions, the details divulge a disturbing trend towards fiscal irresponsibility. The budget, sanctioned by the Senate, aims to extend the Tax
As the Trump administration embarks on its ambitious agenda of implementing aggressive tariffs, altering immigration policies, and reshaping government spending, the uncertainty surrounding the U.S. economy is palpable. Federal Reserve Chair Jerome Powell’s cautious stance reflects a broader need for introspection among economists and stakeholders. Rather than hastily reacting to government policies, the Fed is
In a bid to bolster American manufacturing and protect domestic jobs, President Trump has set in motion a series of import tariffs that cover a vast array of goods from a multitude of countries. While on the surface this move may seem energetic and patriotic, it harbors a multitude of risks that threaten to unravel
It’s becoming increasingly evident that Washington State finds itself teetering on the brink of a financial disaster. After the state House and Senate proudly announced their allied victory in passing their respective budget proposals, caution soon took the forefront as Governor Bob Ferguson decisively cast doubt over their feasibility. In a particularly forceful press conference,
In a political landscape increasingly defined by fiscal conservatism and the tightening of government funds, Republican Representative Don Bacon’s initiative to preserve tax-exempt municipal bonds is not just noteworthy; it is essential. As economics whisper the dire implications of heavy tax burdens on small towns and rural communities, the fragile fabric of public finance hangs
In the intricate web of American public finance, municipal bonds serve as a lifeline for public utilities, ensuring that cities can provide crucial services without exorbitant costs. Yet, current proposals hint at a significant shake-up, as some congressional Republicans suggest eliminating the tax exemption for these bonds. If enacted, this would ripple through communities, potentially