Budget Deficit Swells to $779 Billion

The federal budget deficit grew to $779 billion in fiscal 2018, nearly 17 percent higher than last year, according to the Treasury Department. The deficit is now on pace to top $1 trillion next year, and is the largest since 2012, when the economy was still recovering from the last recession. Administration officials attributed the… Read more »

Senate Approves FAA Reauthorization

The Senate on Wednesday approved a five-year reauthorization for the Federal Aviation Administration (FAA), sending the bill to the White House for President Trump’s signature. The bill passed the Senate by a 93-6 vote and is the first five-year FAA funding bill since the 1980s. “This is something we’ve been trying to do for many… Read more »

Trump Says He Will Sign Spending Bill

President Trump said last night he will sign an $852 billion spending bill to avert a partial government shutdown at the end of the week. The spending bill passed by the House this week funds all agencies at current levels through Dec. 7. The continuing resolution passed as part of a broader 2019 appropriations package… Read more »

House Votes on Tax 2.0 Expected This Week

The House is expected to vote this week on a package of bills known as “Tax 2.0” that among other things would make permanent the individual tax cuts in last year’s Tax Cuts and Jobs Act. While House leaders view a second round of tax cuts to be politically popular in advance of the November… Read more »

Senate Passes Short-Term Spending Bill

The Senate on Sept. 18 passed a short-term spending bill that would keep the government running through Dec. 7, which would postpone any threat of a government shutdown until after the midterm elections. The short-term spending bill is attached to an appropriations package containing 2019 funding for the Pentagon as well as for the Labor,… Read more »