Government Spending

The powerful U.S. Chamber of Commerce on Wednesday launched a six-figure ad campaign pressuring moderate House Democrats to vote against a sweeping $3.5 trillion reconciliation package, warning the bill poses an "existential threat" to the economy's recovery from the pandemic.

Both parties acknowledge the serious risks of their debt ceiling standoff, but neither is inclined to budge amid the high-stakes political posturing.

Former treasury secretaries urged congressional leaders to resolve an impasse over the nation's $28 trillion debt ceiling before October, warning there could be "detrimental" economic consequences if lawmakers fail to raise the nation's borrowing limit.

President Biden is slated to hold a series of meetings on Wednesday with Democratic lawmakers, including party leaders, as he attempts to head off an intraparty war between moderates and progressives that could derail his $4 trillion economic agenda.

House Democratic leaders on Tuesday removed $1 billion for Israel's Iron Dome defense system from a spending bill that will avert a government shutdown after backlash from progressive lawmakers.

A new report from a conservative anti-tax group is warning of a massive loss in economic output and a significant hit to middle-class families if the tax hikes that accompany a $3.5 trillion Democratic spending proposal is signed into law.

The House could act as early as this week, as Democrats rush to avert a government shutdown and avoid a debt default, while simultaneously crafting a partisan $3.5 trillion tax and spending bill.

The House will vote this week on a measure to suspend the nation's $28 trillion debt ceiling before the federal government runs out of cash to pay its bills in October.

Treasury Secretary Janet Yellen renewed her call for Congress to raise or suspend the nation's debt before October, warning that failure to do so could trigger an unprecedented financial crisis in the U.S.

Sen. Marsha Blackburn, R-Tenn., weighs in on the Democrats’ spending plans on FOX Business' 'Mornings with Maria.'

Larry Kudlow slammed Biden's budget speech during his Friday monologue on 'Kudlow.'

The Biden administration is aiming to bolster the Internal Revenue Service by adding bank account reporting requirements to Democrats' massive tax and spending bill, prompting a swift backlash from Republicans who have warned it infringes on customers' privacy.

The Biden administration is warning state and local governments about drastic cuts to Medicaid, food stamps, disaster relief and other federal programs if Congress fails to raise or suspend the debt ceiling soon.

Larry Kudlow slammed Biden's push for the spending package during his Thursday monologue, explaining "polls show clearly that the nation favors free enterprise capitalism, not big government socialism."

The Biden administration defended its plan to increase funding for the IRS by nearly $80 billion, arguing in a memo to congressional Democrats the additional money could help the agency crack down on wealthy tax dodgers and recover billions in lost revenue.

Senate Minority Leader Mitch McConnell rejected a request by Treasury Secretary Janet Yellen for Republicans to join Democrats and raise or suspend the debt ceiling before the federal government runs out of cash to pay its bills in October.

Former House Speaker Newt Gingrich slams Sen. Bernie Sanders’ ‘compromise’ over $3.5 trillion dollar ‘socialist’ bill

Larry Kudlow voiced his concerns about the spending package during his Wednesday monologue on 'Kudlow'

Rep. Alexandria Ocasio-Cortez said this week she will introduce new legislation to reinstate unemployment benefits for millions of Americans after Congress allowed three federal programs put in place during the early days of the coronavirus pandemic to expire last week.

President Biden is slated to meet separately with Sens. Joe Manchin and Krysten Sinema on Wednesday as he looks to sway two of Democrats' biggest holdouts on the party's sprawling tax and spending plan.