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Tag: cuts

November inflation increase won’t derail Fed interest rate cuts

Robust inflation numbers in November show the Fed still has work to do. (iStock) According to the Consumer Price Index (CPI), the annual inflation rate rose to 2.7% in November, slightly higher than the previous month's annual inflation rate of 2.6%. Published by the Bureau of Labor Statistics (BLS). Inflation rose 0.3% on a monthly […]

Democrats fear more IRS cuts in funding fight with GOP

The White House and Congressional Democrats are fighting to protect $20 billion in funding for the IRS as the tax collection agency faces major changes next year. As bipartisan funding negotiations approach a key deadline in December, Democrats are seeking an additional $20 billion of the original $80 billion funding boost for the IRS passed […]

Don’t let Biden sneak in more Medicare cuts on his way out the door

newYou can now listen to Fox News articles. Older Americans should not be used as pawns in political games. But that's exactly what could be happening right now in the waning days of President Biden's administration. President Biden has repeatedly claimed over the years that it is Republicans who want to cut the Medicare program. […]

Boeing to layoff hundreds in Washington as second-round of company cuts continue

Boeing is laying off 396 employees at its Washington state location, Reuters reported on Monday. The move is part of a 10% global workforce reduction announced by the company in October and is expected to affect about 17,000 jobs within Boeing. Fox Business reported in November that 2,199 Boeing employees in Washington state, totaling more […]

Senate Republicans Could Put Trump’s Trade Agenda at Risk by Delaying Tax Cuts

Republicans risk economic downturn by delaying tax cuts Overview Republican legislative agenda That's because as President Trump's second term begins to take shape, key decisions could send worrying signals to businesses and consumers. Party leadership appears to be leaning toward delaying the maintenance or extension of tax cuts in favor of other priorities. Senator John […]

House Republican eyes Medicare, Social Security for DOGE cuts

Rep. Mark Alford (R-Missouri) has cited Medicare and Social Security as potential focus areas for President-elect Trump's new Department of Government Efficiency (DOGE). Alford is asked about possibilities DOGE's cost-cutting recommendations appeared on Fox Business Network's “Morning with Maria” Monday. In response, he noted that Republican lawmakers recently met with Elon Musk and Vivek Ramaswamy, […]

Progressives align with DOGE on defense cuts: ‘Let's play ball’

Billionaire Elon Musk's new Department of Government Efficiency (DOGE) is attracting attention from an unlikely corner of the political spectrum: the left. Progressives are unlikely to support much of what Musk and his partner, entrepreneur Vivek Ramaswamy, are aiming to do with DOGE, which is to cut about $2 trillion from the federal government, and […]

‘We’re Not Touching’ Social Security in Proposed Cuts to Government Spending

President-elect Donald Trump said Sunday on NBC's “Meet the Press” that the Department of Government Efficiency (DOGE) will not cut Social Security. Host Kristen Welker said, “The president-elect will challenge billionaire CEO Elon Musk of Tesla and SpaceX to control government spending, along with businessman Vivek Ramaswami, one of Trump's former chief rivals.'' “We're ordering […]