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The debt level is projected to dip by $54 billion that day due to the scheduled redemption of certain securities, according to a letter Treasury Secretary Janet Yellen sent to congressional ...
Although the debt ceiling returns on January 2, the nation’s outstanding debt is set to decline slightly on that day so the new limit will be reached again later in the month, according to a ...
The debt ceiling was one of the sticking points Trump used to scrap a bipartisan deal to keep the government funded through March. Now he's revisiting a much-used political tool.
The Inflation Reduction Act (IRA) passed in 2022, which included allocating billions of dollars towards investments related to renewable energy sources. But the future of such policies remains ...
The Inflation Reduction Act of 2022 (IRA) is a United States federal law which aims to reduce the federal government budget deficit, lower prescription drug prices, and invest in domestic energy production while promoting clean energy. It was passed by the 117th United States Congress and signed into law by President Joe Biden on August 16, 2022.
The United States government is borrowing big time. The novel coronavirus pandemic has thrown tens of millions out of work and cratered tax revenue, while Congress passed a gigantic economic ...
The final plan, [34] released on December 1, 2010, aimed to reduce the federal deficit by nearly $4 trillion, stabilizing the growth of debt held by the public by 2014, reduce debt 60 percent by 2023 and 40 percent by 2035. Outlays would equal 21.6 percent of GDP in 2015, compared to 23.8 percent in 2010 and would fall to 21.0 percent by 2035.
The Fiscal Responsibility Act of 2023 is an act of the 118th United States Congress that suspended the debt limit until January 2025, bringing an end to the crisis. [94] The bipartisan piece of legislation, endorsed by both Republican and Democratic leadership, was introduced by Patrick McHenry on May 29, 2023, to implement the agreement ...
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