When Gov. Wes Moore of Maryland signs his state’s budget into law as soon as Tuesday, it will signify the end of a difficult saga in which local leaders cut spending and raised some fees just to close a larger-than-expected $3 billion deficit. But Mr. Moore, a Democrat, is already …
The mood at Milken As dealmakers descended on the Beverly Hilton hotel in Los Angeles this week for the annual Milken Institute Global Conference, they were laser-focused on one type of deal: trade deals. The threat of an intensifying trade war cast a shadow over the event, Lauren Hirsch reports. …
Insulin, heart treatments and antibiotics have flowed freely across many borders for decades, exempt from tariffs in a bid to make medicine affordable. But that could soon change. For months, President Trump has been promising to impose higher tariffs on pharmaceuticals as part of his plan to reorder the global …
The Trump administration, which has made clear that it aims to slash government spending, is preparing to unveil a budget proposal as soon as next week that includes draconian cuts that would entirely eliminate some federal programs and fray the nation’s social safety net. The proposed budget for the 2026 …
It may not have been the tax-evasion trial of the century — the second century, that is — but it was of such gravity that the defendants faced charges of forgery, fiscal fraud and the sham sale of slaves. Tax dodging is as old as taxation itself, but these particular …
When Republicans cut taxes in the past, they did so only temporarily, bowing to Washington’s arcane budget rules that limited how much they could add to the federal deficit. They gambled — mostly successfully — that the tax cuts would not actually end because Democrats would eventually vote to continue …
Follow the latest news on Trump’s tariffs and administration news. Ahead of President Trump’s plan to impose sweeping tariffs across the globe this week, his administration is weighing a new round of emergency aid to farmers, who are likely to be caught in the middle if America’s trading partners retaliate. …
Years before President Trump returned to the White House, his budget chief, Russell T. Vought, began mapping out a plan to shrink the federal government. In Mr. Vought’s design, spending would be slashed by about $9 trillion over the next decade. Entire federal programs — from housing vouchers to student …
President Trump made a lot of promises on the campaign trail last year. Investors and business leaders enthusiastically cheered some, like lower taxes and relaxed regulation, and expressed wariness about others, like tariffs and reduced immigration. But when Mr. Trump won the election, there was little sign of that ambivalence: …
The Republican Party won the last election in no small part because of its new appeal with working-class voters, a shift that left many in Washington wondering if a sustained political realignment was afoot. But the economic agenda Republicans are now putting together on Capitol Hill would by and large …