U.S. Economy

The Congressional Budget Office says the federal government is on track for a $2.3 trillion deficit this year, down roughly $900 billion from last year when the coronavirus pandemic led Congress to provide historic amounts of financial aid.

Treasury Secretary Janet Yellen warned about an "explosion of risk" from digital markets, including the misuse of cryptocurrencies that can be used to launder to profits of online drug traffickers and to finance terrorism. 

The $15 federal minimum wage increase proposed by Democrats will lead to higher child care costs for many families as child care providers pass on the costs of higher wages to parents, according to an analysis from the conservative-leaning Heritage Foundation.

House Democrats unveiled a proposal this week to overhaul the long-standing Child Tax Credit, calling for more generous payments as part of a broader coronavirus relief effort.

The Labor Department released new figures on Thursday showing how many Americans filed for jobless aid last week.

Amazon CEO Jeff Bezos, the richest man in the world, would owe close to $2 billion a year in state income taxes under a proposed wealth tax in Washington.

House Democrats rejected a push from some of the party's centrist members to sharply curtail which Americans will receive a third stimulus check. 

Rep. Alexandria Ocasio-Cortez on Thursday reiterated her push for President Biden to unilaterally cancel billions of dollars in student loan debt.

U.S. agricultural exports to China have surged in recent months, after the countries called a truce on their trade dispute in early 2020.

President Biden on Tuesday said he supported a proposal from House Democrats that would send $1,400 stimulus checks to Americans earning up to $75,000 annually.

The U.S. budget deficit soared in January as Congress approved another massive coronavirus relief bill that sent direct aid to Americans still reeling from the pandemic, the Congressional Budget Office said this week.

The coronavirus relief package unveiled by House Democrats on Monday includes a major expansion of the Affordable Care Act that would boost premium subsidies already offered under the Obama-era health care law and increase their availability.

House Democrats on Monday unveiled their proposal to expand the Child Tax Credit as part of President Biden’s $1.9 trillion relief effort.

New data shows how recipients of the $600 stimulus checks distributed at the beginning of January spent the money.

A push by Democratic lawmakers and President Biden to increase the federal minimum wage from $7.25 to $15 an hour by 2025 would cut employment by 1.4 million.

President Biden is risking an early clash with progressive Democrats over a proposed minimum wage hike.

Treasury Secretary Janet Yellen downplayed fears of inflation as the Biden administration pushes a $1.9 trillion coronavirus stimulus package.

Texas Gov. Greg Abbott boasted that while most of the U.S. has suffered economically during the coronavirus pandemic, his state showed rising numbers in their workforce while others' saw heavy declines.

Most adults who reported receiving the second stimulus check, issued around the new year, used them to pay household expenses including utilities and telecom payments, according to recent data from the U.S. Census.

Stimulus payments have been a pandemic lifeline for many Americans. For some young adults, they have presented an opportunity to build up savings or pay off debt.