Spending

The White House is under fire for not making public a cost analysis for President Biden's plan to cancel between $10,000 to $20,000 in debt for some Americans.

The White House argues that restarting student loan payments in early 2023 will offset any inflationary effects from handing out $300 billion for outstanding loans.

Rising inflation is eating away at strong wage gains that American workers have seen in recent months. Real average hourly earnings decreased 0.1% in April from the previous month as the inflation increase eroded the 0.3% total wage gain, according to the Labor Department.

The House of Representatives is planning to announce they will give staffers in Washington, D.C., and in district offices, free Peloton memberships using taxpayer dollars each month amid skyrocketing inflation.

American households are confronting the steepest inflation in a generation, paying more for everything from cars to food to rent as soaring prices eat away at most workers' wage gains.

The U.S. economy likely slowed to a crawl during the first three months of the year, dampened by a record U.S. trade deficit and slower inventory growth after a very strong finish at the end of 2021.

U.S. consumers continued to open their wallets in March, even as they confronted the hottest inflation in four decades.

The Labor Department reported Tuesday that consumer prices in the Mountain region – which includes Montana, Wyoming, Idaho, Nevada, Utah, Colorado, Arizona and New Mexico – surged by a stunning 10.4% in March.

The newest inflation data out this week is expected to show another jaw-dropping figure as the Russian war in Ukraine sent oil and gas prices spiraling higher.

President Biden on Monday unveiled a new minimum tax targeting billionaires as part of his 2023 budget request, proposing a 20% rate that would hit both the income and unrealized capital gains of the wealthiest Americans.

More than half of U.S. households paid no federal income taxes in 2021, a temporary spike attributed to massive COVID-19 relief spending in the form of tax credits and stimulus payments.

President Biden’s signature legislation, the $1.9 trillion American Rescue Plan, allocated $350 billion to assist struggling localities and states get through the COVID-19 pandemic.

Americans' inflation fears skyrocketed again in February, with concerns over prices hitting the highest level in over a decade, according to a Federal Reserve Bank of New York survey published Monday.

FOX Business host gives his take on the COMPETES Act on 'Kudlow.'

When the COVID-19 pandemic began nearly two years ago, scammers – sometimes including the rich and famous – began stealing money from the trillions in federal relief money that Congress approved.

Republicans are likely to hammer Democrats during the midterms over rapd inflation since President Biden took office.

When Congress comes back in January, the death of the "Build Back Better" bill might create an opening for legislators to address COVID relief for small businesses.

President Biden on Monday will roll out a new plan to target a handful of meatpacking companies that control the bulk of the nation's supply, months after his administration accused the conglomerates of facilitating anti-competitive behavior that has caused meat and poultry prices to skyrocket.

In a recent analyst note to clients, Goldman Sachs economists warned that pandemic-induced disruptions in the global supply chain – which have caused congestion in ports and warehouses nationwide – could last longer than expected as surging demand struggles to keep up, meaning that inflation metrics will remain "quite high for much of next year."

President Biden began his presidency earlier this year with high hopes of passing trillions in new spending, and while some measures were successful, some of his efforts were foiled by moderate Democrats who expressed concern over debt and rising inflation.