The Latest Breaking News from The Budget Lab

Elon Musk’s efforts to slash federal spending are costing the government in lost productivity and tax revenue, workforce and policy experts claim.

That's what could happen if undocumented immigrants decide not to file their taxes, according to an estimate by The Budget Lab at Yale.

US President Donald Trump's delay of steeper tariffs may have won brief respite on Wall Street, but analysts say his actions -- which hit China especially hard -- already bring the average US effective tariff rate to its highest in over a century.

The president caught the world – and most of his administration – off guard with his sudden announcement that he was pausing tariffs