Tag Archives: federal deficit

A sweeping new tax bill crafted by House Republicans and filled with Trump-era tax priorities would add $3.7 trillion to the federal deficit over the next decade, according to a new estimate released Tuesday by the Joint Committee on Taxation (JCT). The cost, while steep, still fits within the $4.5 …

President Joe Biden pledged Friday to defend Social Security and Medicare from Republican attacks but rejected calls to support a full repeal of the debt ceiling, an arbitrary federal borrowing limit that the GOP is threatening to use as leverage to enact spending cuts. “The Republican leadership in Congress has …