US Fiscal Policy Digest

A judge has paused the plan to tie federal food funds to policy compliance.

Many retirees assume Social Security benefits remain tax-free, yet outdated 1983 rules still let the IRS tax up to 85% of checks based on "combined...

Robust ADP jobs growth of 122K and ISM Services PMI at 54.5, paired with a 7.97 million barrel crude inventory drop, have pushed the implied...

Bessent pledged a 3% deficit target by Trump's term end, yet the administration's own FY2027 budget projects above 5% through 2029 and CBO sees no...

FY27 Education Spending Proposals

• 🔥 Pell Grant and Loan Changes: House LHHS spending bill raises maximum Pell Grant award to $7,445 while...

• Federal debt projections already signal extreme risks, with realistic policies pushing debt to 201-379% of GDP and interest costs consuming most tax...

House Republicans opened FY27 budget talks by slashing $1.6 billion from Title I and eliminating multiple formula and competitive grants, reviving...

A DBCFT could replace both current tariffs and the corporate income tax, according to proposals from figures like Paul Ryan.

Key revenue...

Markets could face a major surprise at the June 16-17 FOMC meeting, with inflation above target, accelerating producer prices, and bond yields near...

Federal excise taxes have expanded to at least 210 separate levies, raising $72 billion in 2024 even as many began as temporary measures that became...

• Bipartisan bill would repeal the 12% federal excise tax on heavy trucks, cutting up to $30,000 per new vehicle and spurring fleet upgrades.
• IIJA...

A $70 billion reconciliation bill cleared in a 5 AM vote, creating over $240 billion in reserves for enforcement through 2029 and bypassing annual...

• Strong May jobs data showed 172,000 additions versus 85,000 expected, keeping rate-hike odds alive.
• Beige Book revealed an 'E-shaped' economy...

The Trump administration is discussing a potential equity stake in OpenAI to seed a national sovereign wealth fund, enabling direct public...

• Administration proposes 10% tariffs on 16 partners and 12.5% on 44 others after forced labor investigation
• Strategy uses Section 301 to replace...

Virginia faces anemic growth despite national job gains, driven by sharp federal workforce reductions and energy shocks from the Iran war.

• Over...

• The 1983 Chadha ruling eliminated legislative vetoes, forcing Congress to pass full laws for agency oversight.
• Core tools now include reporting...

Proposed Uniform Grants Regulation would embed senior political appointees in award selection and make peer review advisory only, shifting federal...

• Mississippi joins 10 states in a Medicaid demonstration program funding community clinics for care regardless of ability to pay.
• Two...

Debt could hit unsustainable 210% of GDP in 19-25 years, triggering default risks even with steep tax hikes.

• A 1990-style bipartisan summit is urged...