fiscal policy
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New CBO Projection Signals Deeper Social Security Cuts by 2032
A new CBO forecast warns that the Social Security trust fund will be depleted by mid-2032, necessitating benefit cuts of up to 26 percent.
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Trump’s $5,000 Payout Pledge Sparks Legal and Economic Debate
President Trump’s proposal to pay $5,000 to every American adult faces scrutiny over legal viability, funding sources, and potential economic impact.
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Global Bond Yields Surge as US Debt Crosses $40 Trillion Threshold
Rising long-term bond yields are pressuring government budgets globally, driven by the US national debt exceeding $40 trillion.
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U.S. National Debt Hits $40 Trillion Milestone Amid Spending and Revenue Pressures
The U.S. national debt has hit a record $40 trillion, as surging interest costs now outpace defense spending and raise urgent alarms over fiscal stability.
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Labour Government Announces Split Road Tax Increases for EV and ICE Vehicles
The UK government will link tax hikes for EVs to CPI, while petrol and diesel vehicles will rise with RPI, sparking concerns over a new two-tier tax system.
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White House Ballroom Project Costs Surge to $600 Million
New reports reveal the cost of the White House ballroom construction has reached $600 million, with taxpayers covering nearly half the expense despite initial promises of private funding.
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Erie Otters Strengthen Roster in OHL U-18 Draft Amid Broader Regional Budget Pressures
The Erie Otters selected three prospects in the OHL U-18 draft, marking a moment of organizational stability while other North American public institutions grapple with significant fiscal deficits.
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State Debt Pressures: From School Nutrition Insolvency to Legislative Financial Scrutiny
North Carolina school nutrition programs face $15 million in debt due to unfunded mandates, while Wisconsin lawmakers face personal credit card debt lawsuits, highlighting disparate fiscal pressures.
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Wealth Tax Proposals Face Legal and Constitutional Hurdles
As cities and states across the U.S. explore new wealth taxes to close budget gaps, leaked legal memos and constitutional concerns suggest significant hurdles ahead for implementation.
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The Global Tax Shift: AI Enforcement and the ‘Last Mile’ of Pillar Two Compliance
As the June 30 deadline for the OECD’s Pillar Two global minimum tax approaches, multinational corporations face a complex ‘last mile’ of compliance, while nations like Israel deploy AI to scan 100% of tax returns.
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Governor Abbott Mandates Tuition Freeze Across Texas Public Universities
Governor Greg Abbott has issued a directive freezing tuition and fees at all Texas public colleges for the 2026-2027 academic year, citing recent state investments in higher education and the need for fiscal stability for students.
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Security and Solvency: Dual Crises Converge in Lévis as Premier Defies Spending Caps
A high-stakes weekend in Lévis, Quebec, sees the RCMP execute a terrorism-related arrest while Premier Fréchette faces internal rebellion over a $330 million spending spree.
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Trump’s East Wing Ballroom Project Faces 700% Budget Escalation Amid Critical Senate Setback
A GOP-led attempt to secure $1 billion in taxpayer funding for the White House East Wing modernization has been blocked by the Senate Parliamentarian, as total project costs reach $1.4 billion.
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The $124.7 Billion Experiment: Mayor Mamdani’s FY2027 Budget Rejects Austerity for Targeted Wealth Taxation
Mayor Zohran Mamdani has unveiled a historic $124.7 billion Executive Budget for New York City, aiming to close a $12 billion deficit through wealth taxes and efficiency savings rather than service cuts.
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Ed Miliband’s Shift to Chancellor Role Sparks Economic Debate
As Ed Miliband prepares for a pivotal role in the UK Treasury, market analysts and political observers weigh the impact of his proposed economic policies.