198 results - (0.001 seconds)

News about spending increase:

mail: [NewsMag]

    Arizona Representatives, including Debbie Lesko (R-AZ-08), Paul Gosar (R-AZ-04), and Andy Biggs (R-AZ-05), all recently released statements slamming the Inflation Reduction Act (IRA) as it passed the U.S. House Friday and will move on to President Joe Biden (D). “President Biden and congressional Democrats are so out of touch with everyday Americans that they just...
    The highest inflation in more than four decades is making everything from shopping for groceries to taking a vacation much more expensive for consumers. Inflation increased by 9.1% for the 12 months ending in June, according to the Bureau of Labor Statistics. That headline increase is the most since 1981 and is being felt...
    Arizona Representative Paul Gosar (R-AZ-04) last week blasted the Inflation Reduction Act of 2022, a revival of President Joe Biden’s (D) “Build Back Better” (BBB) economic bill, saying the contents of the bill will not accomplish what the title promotes. “Families can’t afford gas and groceries, yet Democrats want to raise taxes and spend billions...
    by Eric Lendrum   Democrats in Congress have proposed a new spending bill that would allocate $80 billion for the sole purpose of expanding the Internal Revenue Service (IRS), ostensibly to fight inflation by raising government revenues. As reported by The Daily Caller, the bill is called the “Inflation Reduction Act of 2022.” The bill...
    President Joe Biden is on the edge of securing two major legislative wins, but whether they will deliver on their stated aims of controlling inflation or even reassuring voters ahead of the midterm elections is much less clear. The annual consumer price index rose to 9.1% in June, and on Friday, the Department of Commerce...
    The Federal Reserve on Wednesday increased its key interest rate by three-quarters of a percentage point for the second month in a row, matching the biggest increase since 1994.  The move brings the target rate to between 2.25 percent and 2.50 percent, which is where it stood in the summer of 2019, its most recent...
    Representative John Rose (R-TN-06) on Wednesday slammed an appropriations package passed by House Democrats that will increase the budgets of multiple federal agencies. Rose contended that the increase in spending comes as individuals across the country are being crippled by increased inflation. The complete legislation includes six spending bills and was introduced by Rep. David...
    by Anthony Hennen   After missing the June 30 deadline for a budget deal, an agreement has been made. The $45.2 billion budget was approved by the Senate on Friday after the House approved it Thursday. It awaits the signature of Democratic Gov. Tom Wolf to become official. The agreement includes: $1.5...
    The House Armed Services Committee (HASC) approved Wednesday a $37 billion military spending increase sponsored by Representatives Elaine Luria (D-VA-02) and Jared Golden (D-ME-02) with the support of HASC Vice-Ranking Member Rob Wittman (R-VA-01). Some of the proposed spending includes $1.2 billion for a new guided missile destroyer, about $7.4 billion to offset rising costs...
    BALTIMORE (WJZ) — The Baltimore City Board of Estimates voted unanimously Wednesday in favor of the increasing water bills by 3.2% a year for the next three years. That means a household paying $118.46 now will pay $130.21 by fiscal year 2025. READ MORE: Scott Says It's Too Early To Confirm Abell Fire A Hate...
    Customers loads items into the back of a car outside a Target store in Pleasant Hill, California, US, on Wednesday, May 11, 2022.David Paul Morris | Bloomberg | Getty Images Retail sales turned negative in May as consumers pulled back spending while inflation surged, the Commerce Department reported Wednesday. Advance retail and food service spending...
    Yardeni stated, “When we are happy, we spend money. When we are depressed, we spend even more money!” For instance, despite the Consumer Price Index surging by 8.3% in April and a massive technology stock sell-off, retail sales rose by 8.2%. Gasoline sales actually declined in April from March, as prices temporarily fell before ramping...
    A woman pushes a shopping cart through the grocery aisle at Target in Annapolis, Maryland, on May 16, 2022, as Americans brace for summer sticker shock as inflation continues to grow.Jim Watson | AFP | Getty Images Consumers kept spending in April, with retail sales rising about in line with Wall Street expectations despite an...
    WASHINGTON (AP) — U.S. retail sales rose 0.9% in April, a solid increase that underscores Americans’ ability to keep ramping up spending even as inflation persists at nearly a 40-year high. The increase was driven by greater sales of cars, electronics, and at restaurants, the Commerce Department said Tuesday. Even adjusting for inflation,...
    Public expectations of household spending rose to a record high in April, data from the Federal Reserve Bank of New York showed Monday. The New York Fed said that households expect their spending to rise by 8 percent over the next year, up from 7.7 percent in March and 4.6 percent a year ago. The...
    Los Angeles Mayor Eric Garcetti called Wednesday for an 8.5% increase in the Police Department’s operating budget, providing a major boost to overtime pay while also seeking to fill hundreds of vacant positions. Garcetti released his $11.8-billion budget for the coming year, which would increase the LAPD’s operating budget by $149 million and take LAPD...
    President Joe Biden, late last month, unveiled a proposed $5.8 trillion budget that seeks to address urgent problems facing his administration at home and abroad, all while trying to appeal to centrists in Congress during what’s likely to be a challenging election year for Democrats. Although the budget will prompt familiar partisan disagreements, one...
    by Mary Stroka   Minnesota House DFL committee chairs on Monday pitched a $1.15 billion increase in education funding for fiscal year 2023 and $2.12 billion in fiscal years 2024 and 2025. The Minnesota House Education Finance, Policy and Early Childhood committees proposed using the state’s historic budget surplus for the increases. Center of...
    by Vance Ginn & John Hendrickson   Americans have less money than they had last year — though taxes haven’t been raised. So what’s the problem? Inflation, which has increased at a 40-year high annual pace of 7.9%. It acts as a hidden tax because we don’t see it listed on our tax bills, but...
    Progressives have grown increasingly accustomed to disappointment with the Biden administration—and now a proposed increase in Department of Defense and law enforcement spending are causing them to air their grievances anew with just months left before the 2022 election. President Biden on Monday released a proposal for $813 billion in funding for the Department of...
    Sen. Bernie Sanders on Monday criticized President Joe Biden's request for an $813.3 billion military budget in the next fiscal year as excessive, noting that the United States already spends more on national security than "the next 11 countries combined." "We do not need a massive increase in the defense budget," Sanders (I-Vt.), the chair...
    The Australian government will reveal an economic blueprint to increase spending on defense and national security while reducing household expenses, the treasurer said on Tuesday. Treasurer Josh Frydenberg will on Tuesday reveal the government’s budget for the fiscal year beginning July 1 with an eye to general elections due by May 21. With Russia at...
    Joe Biden's $5.8 trillion Fiscal Year 2023 budget includes a lot of progressive agenda items like clean energy and climate initiatives, but will also alienate that branch of the Democratic Party by giving additional funding for law enforcement. The president announced on Monday afternoon his proposal for funding for next year, starting in October, which...
    President Joe Biden speaks alongside Director of the Office of Management and Budget Shalanda Young as he introduces his budget request for fiscal year 2023. President Joe Biden released a $5.8 trillion budget for the fiscal year 2023 on Monday, the first step toward establishing the funding for next year, which starts Oct. 1. That would normally...
    As members of Congress get their first good look at President Joe Biden's proposed budget for 2023, economic, defense, and energy concerns are taking center stage. Facing war in Europe and economic tensions at home, compounded by high energy costs, the budget reflects the most pressing issues of the moment. In their initial reactions,...
    by Harry Wilmerding   American’s spending slowed in February amid surging inflation and gas prices, the U.S. Census Bureau announced Wednesday. Retail sales grew 0.3% in February, a significant dip from January’s 4.9% monthly increase, the Census Bureau reported Wednesday. January’s spending increase marked the largest jump since March 2021 after Americans received the final $1,400...
    NEW YORK (AP) — After beginning the year in a buying mood, Americans slowed their spending in February as prices for food, gasoline, toothpaste and just about everything else continue to rise. Retail sales increased 0.3% after registering a revised 4.9% jump from December to January, fueled by wage gains, solid hiring and more...
    (CNN)A massive spending bill that would fund the federal government through September -- as well as provide $13.6 billion in fresh aid to Ukraine as the country fights back against Russia's invasion -- is moving through Congress. The spending bill, known as the omnibus, would provide funding through fiscal year 2022, which started in October....
    Conservatives have rallied against the $1.5 trillion omnibus spending bill, believing it spends too much while Americans suffer from inflation, and contains many leftist carveouts. Congress unveiled the multi-trillion dollar omnibus spending bill on Friday, which needs to pass and become law before the end of Friday to avoid a government shutdown. Conservatives have voiced...
    WASHINGTON (AP) — Congressional leaders are racing to pass a mammoth $1.5 trillion legislative package that would fund the government for the rest of the year and deliver badly needed humanitarian aid to Ukraine. The legislation includes $730 billion for domestic programs, the largest increase in four years, along with $782 billion for defense. It...
    Many in the West expect China to invade the island nation of Taiwan in the near future. In fact, Chinese President Xi Jinping has made it clear that it is a matter of “when” and not “if” China makes a move on Taiwan. Chinese leaders have even said that if the United States comes...
    Workers weld at a workshop of an automobile manufacturer in Qingzhou, East China's Shandong Province, on March 1, 2022.Future Publishing | Future Publishing | Getty Images BEIJING — China announced a gross domestic product growth target of "around 5.5%" for 2022, as an annual parliamentary meeting gets underway. Premier Li Keqiang revealed the figure in...
    German Chancellor Olaf Scholz arrives for a statement on Ukraine at the chancellery in Berlin, Germany, February 24, 2022.Michael Kappeler | Reuters Germany is committing 100 billion euros ($112.7 billion) to a fund for its armed services, Chancellor Olaf Scholz said during a special session of the Bundestag on Sunday. It has become clear that "we...
    In late December, Congress wrote a big IOU to the Pentagon, authorizing an additional $25 billion over the bare-bones defense budget proposed by the Biden administration for the fiscal year that began Oct. 1. But so far, the Pentagon has yet to see a penny of the extra funds. At the time, the passage of...
    by Casey Harper   Wholesale prices jumped a full percentage point in January and 9.7 percent over last year, the Bureau of Labor Statistics said Tuesday, as inflation continues its rapid rise. “On an unadjusted basis, final demand prices moved up 9.7 percent for the 12 months ended January 2022,” BLS said. That increase comes...
    by Jon Styf   Tennessee Gov. Bill Lee’s $52.6 billion budget proposal uses $8.9 billion more in general fund dollars than the state’s current budget, according to an analysis from The Sycamore Institute. The additional spending comes from multiple sources. A large portion is from excess taxes and fees collected over the past three years and...
    by Jason Schaumburg   The Georgia House passed its version of an amended fiscal year budget Friday, agreeing to spend $2.7 billion more than the previously passed budget. Appropriations leaders in the Georgia General Assembly must review and approve spending changes for the remainder of fiscal year 2022 and approve a budget for fiscal 2023,...
    A one million increase in the number of destitute households in the UK is feared as a result of Tory tax hikes, a pressure group calling for higher government spending warns. Fears have emerged regarding increasing “destitution” in the UK, after a report published by the National Institute of Economic and Social Research estimated that there...
    The all-electric Ford F-150 Lightning truck during an augmented reality presentation at the Motor Bella Auto Show in Pontiac, Michigan, on Tuesday, Sept. 21, 2021.Emily Elconin | Bloomberg | Getty Images Ford Motor is reportedly planning to accelerate its deployment of electric vehicles that could include increasing investments in EVs by up to $20 billion,...
    NEW YORK -- New York would boost state school aid, provide sweeping property tax relief and deliver bonuses to health care workers over the next year if lawmakers pass a $216.3 billion budget outlined by Gov. Kathy Hochul on Tuesday.Hochul is proposing a 3.1% spending increase in taxpayer dollars for her 2022 proposed budget, which...
    President Joe Biden signed a $770 billion defense bill on Monday that marks an increase in spending in almost every faction of the military. The $770 billion National Defense Authorization Act (NDAA) ended up being $24 billion more than Biden asked for, according to The New York Times. It passed both the House and Senate...
    NATICK (CBS) – In Christmas crunch time, those supply chain issues and delivery delays are music to the ear for brick and mortar stores. At the Natick Mall Wednesday night, the crowds came – eager to get their hands on their last-minute must-haves. “I definitely knew that shopping in person was going to be my...
    Washington (CNN)Soaring inflation has become a political problem for President Joe Biden's Build Back Better bill, with critics pointing to the rise in prices as a reason why it's the wrong time for Congress to authorize some $1.75 trillion in new spending. Many Republicans argue that injecting more federal money into the economy will add...
    Senate Democrats voted Tuesday to lift the nation’s debt ceiling by $2.5 trillion, providing enough money to extend federal borrowing authority beyond the 2022 midterm elections. Democrats passed the measure unilaterally in an unusual agreement with Republicans, who refused to vote for a long-term increase in the debt limit in protest of Democrats’ spending...
              more   Governor Ralph Northam is set to announce his final budget proposal next week, and he has spent this week on his “Thank You, Virginia” tour highlighting key pieces of the proposal before he leaves office early next year. On Friday, he announced $27 million to establish a Center for Firearm Violence Intervention and...
    LANSING, Mich. (AP) — The Michigan House passed a $368.5 million public safety and police funding plan Thursday for fiscal year 2021-2022, increased from its $80 million plan proposed in May. One area that got more funding is school resource officers, who work either full-time or part-time in schools with the aim of ensuring students, teachers...
    President Joe Biden has taken to saying that the Democrats’ “Build Back Better” legislation will reduce inflation. This spin isn’t just unconvincing. It underscores the absurdity of the Democrats’ political project. The first weakness of Biden’s argument is that the timing is all wrong. On Nov. 10, the White House issued a prepared statement from...
    WASHINGTON (AP) — The U.S. economy slowed to a modest annual rate of 2.1% in the October-December quarter, slightly better than first reported. But economists are predicting a solid rebound in the current quarter as long as rising inflation and a recent uptick in COVID cases do not derail activity. The increase in the gross...
    (CNN)When the US Food and Drug Administration approved a costly new drug for Alzheimer's disease, Aduhelm, earlier this year, experts warned that all of Medicare's more than 63 million enrollees could wind up paying the price.That's exactly what is happening.Aduhelm, which is priced at $56,000 a year, is one of the key factors driving a...