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The Latest Breaking News from CBO

Don't Believe the White House's Promises About Who the New IRS Will Audit

Media "fact-checkers" are taking administration promises at face value and using them to bludgeon Republicans.

Reason

Inflation Reduction Act may have little impact on inflation

With inflation raging near its highest level in four decades, Congress is poised to approve President Joe Biden’s signature Inflation Reduction Act

The Independent UK

Budget bill clears as Democrats seek to head off midterm losses - Roll Call

The House on Friday cleared a climate, health and tax package salvaging key parts of Democrats’ domestic agenda.

Roll Call

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Fact check: Will 87,000 new IRS agents mean more audits for middle-class families and small businesses?

The Schumer-Manchin tax bill passed the Senate as part of the Inflation Reduction Act on Sunday. According to legislative documents, the bill will raise taxes and boost the IRS by an estimated $80 billion.

Tribune News Service

Sweeping budget package passes Senate; House will take up measure Friday

WASHINGTON — After a year of negotiations, impasses and political maneuvering, the Senate passed Democrats’ top domestic priority: an economic package that would pump hundreds of billions of dollars into clean energy programs, raise taxes on corporations and lower health care costs.

Tribune News Service

Sweeping budget package passes Senate; House on deck Friday - Roll Call

After a year of negotiations, impasses and political maneuvering, the Senate passed Democrats' top domestic priority.

Roll Call

Debate begins on massive budget package; 'vote-a-rama' awaits - Roll Call

The Senate voted to begin considering Democrats’ climate, tax and health package on a party-line vote Saturday.

Roll Call

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Wealthy Americans escape tax hikes in bill but will face beefed-up IRS

Wealthy Americans dodged getting hit by tax increases in the Democrats’ economic package, but they likely will face a much better-funded Internal Revenue Service equipped with new auditors and technology to uncover tax avoidance.

Tribune News Service

Democrats race to prep sweeping budget bill for weekend votes

WASHINGTON — The Senate is expected to begin consideration of Democrats’ climate, tax and health care package on Saturday, leaving about two days for the party to shore up support for the bill.

Tribune News Service

Senate tees up vote on bill to aid vets exposed to burn pits

Legislation expanding health care and disability benefits for millions of veterans is nearing passage in Congress

The Independent UK

EXPLAINER: How health care for vets became fight in Congress

A bill that enhances health care and disability benefits for millions of veterans exposed to toxic burn pits has hit a snag in the Senate

The Independent UK

Groups launch last-ditch effort against drug pricing changes - Roll Call

Interest groups are spending millions in hopes of blocking legislation allowing Medicare to demand lower prices for prescription drugs.

Roll Call

Man could be arrested for entering Liverpool city centre under ban

Selemi's recent conviction was for the theft of an Adidas hooded top from Footlocker

Liverpool Echo

Community ke y to controlling 'C'

Viral hepatitis -- a liver inflammation caused by a viral infection -- is a global challenge. It is estimated by the World Health Organisation (WHO) that over 1 million deaths are caused by chronic hepatitis B and C infections per year.

Bangkok Post

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The Independent UK

Report: Federal debt lower in 2022; still poised to climb

The Congressional Budget Office says the end of pandemic-era spending, fast economic growth and higher tax revenues have caused the federal debt this year to be lower than forecast

Axios

Big decisions loom for Democrats' giant health bill

Democrats' high-stakes math game

Liverpool Echo

People warned to ring police if they see these men in parts of Merseyside

Police have asked people to call them if they see these men in parts of Merseyside and Lancashire

Reason

Rand Paul Asked Senators To Balance the Budget. Only 28 Agreed.

Rising interest rates will only make it harder to balance the budget in future years.

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Roll Call

Senate passes major benefits expansion for sick veterans - Roll Call

The Senate passed a bill to expand health care and disability benefits for veterans who served in war zones and later contracted diseases.

Reason

Why Biden's Claim of Cutting the Deficit Is False, in a Single Chart

...and why government spending is like an infestation of cicadas.

Reason

Burn Pit Bill Creates Massive, Debt-Fueled Backdoor Expansion of the V.A. Health Care System

Iraq and Afghanistan veterans wouldn't have to show any link between their service and a long list of medical conditions to obtain government-funded healthcare.

Roll Call

Resurrected budget package no slam dunk as negotiations heat up

Democrats face big obstacles and a deadline measured in weeks as they attempt to salvage a scaled-down tax, climate and health care package.

Tribune News Service

Analysis: Unexplained tax revenue growth vexes budget scorekeepers

WASHINGTON — The term “unexplained” doesn’t appear too often in official government documents, unless they are dealing with possible paranormal events, like UFOs. Yet the reference is sprinkled throughout the Congressional Budget Office’s latest budget and economic outlook to describe the recent strength in federal tax receipts that’s blown away…

Reason

Politicians Cause Real Pain With Inflationary Policies

Inflation damages the economy while doing the greatest harm to the most vulnerable.

Roll Call

Unexplained tax revenue growth vexes budget scorekeepers - Roll Call

Analysis: The CBO’s latest budget and economic outlook, which describes recent strength in federal tax receipts, is a head-scratcher.

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