"My constituents are saving thousands of dollars and they know it. Republicans can and should take credit because the alternative would've been massive tax hikes under the Democrats had they won the 2024 election."
The tax provides more than $23 billion per year in revenue for federal highway and public transit programs. The federal gas tax has been in place, in one way or another, since 1919 and was last raised in 1993.
The U.S. Treasury bond market has finally responded to the Mideast war, giving its assessment of the energy shock's severity and the war's effect on U.S. fiscal imbalance and inflation.
The proposed rule establishes broad principles to guide the determination of whether state-level stablecoin regulatory regimes are 'substantially similar' to the federal framework, allowing smaller issuers to remain under state supervision.
As the Federal student aid portfolio soars to nearly $1.7 trillion and with nearly a quarter of student loan borrowers in default, Americans know that the Department of Education has failed to effectively manage and deliver these critical programs. By leveraging Treasury's world-renowned expertise in finance and economic policy, we are confident that American students, borrowers, and taxpayers will finally have functioning programs after decades of mismanagement.
With roughly nine million student borrowers in default, the Treasury Department will "assume operational responsibility for collecting" on those loans, the Education Department announced Thursday. The move is ED's latest effort to render itself obsolete as part of the Trump administration's plan to eliminate the department. This is the 10th interagency agreement it has signed to share with or spin off functions to other federal agencies.
"The historical evidence reveals a striking pattern: government bonds have repeatedly generated substantial real losses during these extreme episodes. They have even underperformed equities and real estates which are traditionally regarded as risky assets."
Operation Epic Fury is racking up a staggering military bill. According to the Center for Strategic and International Studies, a DC think tank, the military campaign is costing approximately $891.4 million every single day. The first 100 hours of the conflict alone consumed $3.7 billion, CIS added in a report on the costs of the fighting, as reported by CNN.
It might make the average American consumer happy, but the decision could amount to trillions of dollars worth of lost government revenue over the next decade, and eventually come back to haunt the country's fiscal stability. As evidence mounted that tariffs were taking a toll on American shoppers and companies, the Supreme Court justices ruled 6-3 that Trump had exceeded his authority when he installed sweeping "emergency" tariffs on a number of trade partners. The decision was cheered by business coalitions, and markets surged on the news.
