Yellen doesn't deny that 90% of new IRS audits would affect those making under $400K
U.S. Treasury Secretary Janet Yellen testified before the House Ways and Means Committee on Friday, where she was confronted with data that suggests up to 90% of new IRS audits will hit taxpayers making less than $400,000, which she did not deny.
GOP readies budget plan in ‘coming weeks’ in response to Biden’s ‘out-of-control spending’
Republicans in the House and Senate are hammering President Joe Biden over his newly unveiled budget proposal for Fiscal Year 2024, and House GOP said their budget is coming soon.
GOP, Dems clash over Republican plan to avoid debt default: 'Economic chaos'
House Republicans are looking at ways to avoid a debt default, including by exemption debt and entitlement payments from the debt ceiling once the ceiling is reached.
Social Security on a path to major benefit cuts unless Congress acts, CBO director says
CBO Director Phillip Swagel said that once Social Security's trust fund becomes exhausted in 2032, benefits would automatically be cut by 25% unless Congress acts.
Biden tells firefighters union they shouldn’t pay higher taxes than billionaires, renews call to tax rich
President Biden vowed to make both billionaires and corporation "pay their fair share" while speaking at a conference for members of a firefighters union on Monday.
House panel votes to give Biden power to ban TikTok: 'spy balloon into their phone'
The Republican-led House Foreign Affairs Committee voted Wednesday to give President Biden the power to ban TikTok, a move that some groups say would be unconstitutional.
Biden accuses GOP senator of being 'confused' for criticism of Medicare policies; senator fires back
President Biden on Wednesday said Sen. Rick Scott, R-Fla., was "confused" for suggesting cuts to prescription drug costs equated to cuts to Medicare.
Lawmakers rally with public-sector union to demand pay raise for federal workers
Federal lawmakers rallied with representatives from the American Federation of Government Employees union on Tuesday to demand Congress pass an 8.7% pay increase for government workers.
Comer blasts Biden, Schumer for trying to 'scare seniors' by saying GOP wants to cut Social Security, Medicare
Rep. James Comer accused President Biden and Senate Majority Leader Chuck Schumer of trying to "scare seniors" by saying the GOP wants to cut Medicare and Social Security.
Federal deficit up $200 billion compared to last year despite Biden's reduction claims
The CBO's latest budget update showed the federal deficit was up $200 billion year-over-year as of January, despite President Biden's claims about his deficit reduction efforts.
Biden's fantasy economy: Americans see through SOTU spin on jobs, inflation, deficits
President Biden tried to take credit for what he claims is an improving economy durin ghis State of the Union speech Tuesday night. Americans aren't falling for it.
Republican lawmakers push back after Biden says GOP wants to cut Social Security, Medicare: 'Dishonest move'
GOP senators on Wednesday said President Biden was mischaracterizing their respective positions on Social Security, Medicare, and Medicaid.
Florida Rep. Luna corners former Twitter exec on platform’s alleged collusion with FBI, other federal agencies
Rep. Anna Paulina Luna, R-Fla., on Wednesday grilled a former Twitter executive over the company's alleged collusion in suppressing the Hunter Biden story before the 2020 election.
Democrat Rep. Cori Bush calls for government takeover of social media, says Twitter too motivated by profits
Rep. Cori Bush, D-Mo., on Wednesday called for public ownership of social media platforms like Twitter to ensure these platforms serve everyone fairly.
CBO offers Congress options for saving Social Security, Medicare, Highway Trust Fund from insolvency
Deficit reduction options offered by the CBO and CRFB could extend the solvency of key trust funds for Social Security, Medicare and highways that are on a path to exhaustion.
Stuart Varney: Antisemitism is at the heart of Ilhan Omar's ouster from high-profile committee
FOX Business' Stuart Varney slammed Democrats and Squad members for claiming racism is the reason for Ilhan Omar's removal from the foreign affairs committee.
AOC alleges 'rank partisanship' in Republican COVID fraud investigation, Comer responds
New York Rep. Alexandria Ocasio-Cortez accused House Oversight Committee Republicans of "rank partisanship" in their investigation of COVID-19 pandemic relief waste.
AOC blames Trump tax cuts for deficit when asked if Democrats have spent too much
House Democrats are blaming former President Donald Trump for the rising national debt and trillion-dollar budget deficits two years after Trump left office and Democrats assumed control of Congress.
Bipartisan TRUST Act aims to shore up Social Security, Medicare, Highway trust funds
The bipartisan TRUST Act would establish rescue committees that propose financial fixes for endangered trust funds that feed Social Security, Medicare, and highway projects.
Major Social Security trust funds could be tapped out by 2033: CBO
The non-partisan Congressional Budget Office found that Social Security's main trust funds could be exhausted by 2033, which could result in reduced payments to beneficiaries.