Senior U.S. officials are beginning to explore proposals for punishing or demanding financial compensation from China for its handling of the coronavirus pandemic, according to four senior administration officials with knowledge of internal planning. The move could splinter already strained relations between the two superpowers at a perilous moment for the global economy.
More than 80 percent of the benefits of a tax change tucked into the coronavirus relief package Congress passed last month will go to those who earn more than $1 million annually, according to a report by a nonpartisan congressional body expected to be released Tuesday.
Immediately after signing the historic $2 trillion coronavirus aid package, President Trump sought to curb oversight provisions in the bill by asserting presidential authority over a new inspector general’s office.The move could presage a major battle between the White House and Capitol Hill as the Trump administration moves to implement the new law.
America’s federal deficit will expand by about $800 billion more than previously expected over 10 years due primarily to two legislative packages approved this year, pushing the nation further into levels of debt unseen since the end of World War II, the Congressional Budget Office said Wednesday. The CBO also said that the impact of higher trade barriers, primarily President Trump’s trade war, could hurt economic growth amid widespread fears of a recession.
The Trump administration has not yet given Puerto Rico $600 million in food stamp aid more than two weeks after the president signed the emergency funding into law, according to federal and territory officials
The government shutdown has stalled President Trump’s program to send billions of dollars to farmers hurt by the trade war with China, as the Agriculture Department office responsible for administering the payouts is closed for lack of funding. On Tuesday, Agriculture Secretary Sonny Perdue announced that the department has extended the deadline for farmers to apply for bailout payments. The application window was slated to close Jan. 15, but Perdue said Tuesday that the deadline will be extended, at minimum, weeks after the shutdown ends.
When President Trump imposed tariffs on steel imports in June, Richard Lattanzi thought of dozens of his fellow steelworkers who have for years put off badly needed repairs of their cars and homes. “There was a lot of excitement here; there were a lot of us saying, ‘It’s about time someone is looking out for us,’ ” said Lattanzi, the mayor of this town of 7,000 and a safety inspector at the U.S. Steel plant in nearby West Mifflin. “A lot of people around here were saying, ‘We’re going to be okay.’ ”
A second round of Republican tax cuts would add an additional $3.2 trillion to the federal deficit over a decade, according to a new report released by a centrist think-tank. The package was taken up by a House committee on Thursday and is expected to head to a vote on the floor later this month.
A new United Nations report is getting plenty of national media attention for predicting President Trump will exacerbate hardships for America's poor by weakening the nation's safety net. Among countries in the developed world, the report says, America already has the highest rates of youth poverty, infant mortality, incarceration, income inequality and obesity.
The average hourly wage paid to a key group of American workers has fallen from last year when accounting for inflation, as an economy that appears strong by several measures continues to fail to create bigger paychecks, the federal government said Tuesday.
Gary Cohn, who served as Trump's director of the National Economic Council but left amid a rift over the president's trade policies, said that retaliatory tariffs between countries could drive up inflation and prompt American consumers to take on more debt, possibly pushing the country into another economic downturn.
Michigan Republicans' plan to require some recipients of government health insurance to work would disproportionately affect black people. Medicaid enrollment data provided to The Post by the Michigan Department of Health and Human Services shows that this exemption would overwhelmingly benefit white people while leaving the work requirements in place for all but a sliver of the affected African American population.
The Republican tax law passed last fall will give the richest 1 percent of Americans an average personal income tax break of about $33,000, while the poorest Americans will receive an average personal income tax break of $40, according to a new study published this week by nonpartisan analysts.
Progressive activists say they’re dismayed that senior congressional Democrats aren’t more strongly condemning President Donald Trump’s strikes against Syria on Thursday night. Some Democrats in Congress dinged Trump on the process — not seeking congressional approval — but largely supported the action itself. Senate Minority Leader Chuck Schumer (D-NY) called punishing Syria’s Bashar al-Assad “the right thing to do,” and House Minority Leader Nancy Pelosi (D-CA) labeled the strikes a “proportional response.” Pelosi has also called for the House to end its recess and reconvene to discuss the attacks.
The withdrawal comes amid reports that several Republican senators were refusing to support Puzder, and it makes him the first Cabinet nominee in Donald Trump’s administration to go down in flames. Republicans revolted against Puzder, CEO of the fast-food conglomerate CKE Holdings, amid two particularly high-profile scandals — a revelation that he’d hired an undocumented immigrant and failed to pay employer taxes, and an ugly divorce in which his ex-wife accused him of assaulting her.
What Sanders’s remarks about "identity politics" say about the Democratic Party’s future. Having the party embrace both gender and racial diversity is a necessary first step, Sanders said. But if “identity politics” means promoting black and female candidates who don’t have “the guts to take on the oligarchy,” Sanders argued, it’s largely beside the point.
Billionaire donors could get lots of shiny new tools for controlling the American political system. There is really not all that much left to prevent big money from influencing American politics. Donors can already spend as much as they want on “independent” Super PACs that take out millions in political advertisements. Corporations can give as much as they want to these Super PACs, and they’re finding ways to do so entirely in secret.