The recent passage of President Donald Trump’s “big beautiful bill” through the House of Representatives has been heralded as a triumph for Republican leadership and a fundamental step towards securing a brighter economic future. However, this optimism comes with glaring contradictions. The $5 trillion price tag, complemented by only $1.5 trillion in promised cuts, raises
Politics
As we look into the financial landscape of 2025, an alarming trend has emerged regarding state and local pension funds. A staggering loss of nearly a quarter of a trillion dollars in public equities investments exposes the fragility of the system that supports millions of retirees across the nation. According to the Equable Institute, these
As the political machinations unfold in Washington, D.C., the financial security of the District hangs in the balance, illustrating yet again the inefficiencies of legislative processes. Recently, the House of Representatives passed a continuing resolution that left out critical financial provisions for the city, casting a dark shadow over its fiscal future. Mayor Muriel Bowser
The impending discussions on Capitol Hill concerning tax-exempt municipal bonds present a pivotal moment in the economic and infrastructural future of America. A recent policy brief authored by notable academics in public finance—Justin Marlowe and Martin Luby—brings forth crucial warnings about the potential fallout from modifying this vital exemption. They argue, quite convincingly, that such
The ongoing fiscal debates in the U.S. House of Representatives—specifically surrounding the budget resolution for 2025—paint a troubling picture of the current political landscape. The latest proposal, which emerged from the Senate, has been met with scathing criticism from conservative elements within the GOP who view it as a blatant compromise that undermines their principles.
Jerome Powell’s remarks on the Federal Reserve’s position are revealing of both the fragility and potential of the U.S. economy as we navigate uncharted waters. His sentiment of waiting for clarity amidst President Trump’s sweeping policies around tariffs, immigration, and federal spending reflects a cautious yet strategic approach to monetary policy. The Fed’s preference for
The recent implementation of import tariffs by President Trump has thrust the U.S. economy into a new era of uncertainty, one that promises to have far-reaching consequences. While the aim behind these tariffs, particularly the sweeping 10% tax across the board, and staggering 34% on China, might sound attractive in theory, the reality paints a
Washington State’s recent victory in the legislature over budget approvals was short-lived, revealing a deeper crisis looming on the horizon. Governor Bob Ferguson’s swift rejection of both the House and Senate’s proposed operating budgets is more than a mere political hiccup; it is a call to action that should not be ignored. For any center-right
Tax-exempt municipal bonds represent a cornerstone of public financing in America, providing not only a lifeline for local governments but also acting as a significant driver of economic growth. As the political landscape shifts and discussions around fiscal policies intensify, the recent push from Nebraska Representative Don Bacon calling for the preservation of these bonds
The suggestion to eliminate tax exemptions on municipal bonds presents a disturbing prospect for Americans, threatening to inflate utility bills while undermining the operational integrity of public utilities. Advocates argue that such a measure, as recently proposed by congressional Republicans, would not only burden families but also undermine the very infrastructure that sustains everyday life.