Congressional Budget Office
Biden’s big social spending bill caught in snags in the Senate
WASHINGTON — President Joe Biden’s giant social and climate spending bill last week appeared stalled in the U.S. Senate for some time to come, a deep frustration for congressional Democrats who aimed to pass the ambitious package by the Christmas recess. Adding to this, West Virginia Democratic U.S. Sen. Joe Manchin Sunday said he was […]
U.S. House plan for new mining royalties draws objections from Western senators
U.S. senators of both parties at a hearing Tuesday rejected House Democrats’ plans to impose billions of dollars in royalties and other fees on companies that mine for gold, copper, lithium and other minerals, largely in Southwestern states. Among the opponents was Nevada Democrat Catherine Cortez Masto, who said she objected to the House proposal […]
Outlook for $15-an-hour minimum wage boosted by new government report
WASHINGTON — The nonpartisan Congressional Budget Office in a report Monday found a gradual increase to a $15 federal minimum wage by 2025 would reduce poverty, add $54 billion to the deficit over a decade and increase pay for millions of low-income workers. The report could help Democrats make a strong case for including a gradual […]
Impending recession puts state in budget squeeze
Social distancing has its benefits. Most economists who have analyzed these policies seem to think the benefits gained in lives saved outweigh the costs they exact in economic damage using standard valuation techniques. Nonetheless, the costs are substantial. Last week, the Congressional Budget Office released projections that the United State gross domestic product will fall […]