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Budget Policy

All articles tagged with #budget policy

economy1 month ago•18 min saved

Social Security Eyes Earlier Benefit Cuts as Fund Shortfall Tightens Timeline

Social Security’s Old-Age and Survivors Insurance trust fund is projected to deplete by 2032–2033, potentially limiting benefits to about 77% of promised payments. The updated timeline is partly due to the loss of revenue from a proposed $6,000 tax deduction, prompting policymakers to act quickly. Possible fixes include higher payroll taxes or raising the full retirement age, but neither option is easy, so individuals should boost savings and plan for the possibility of reduced benefits.

via 24/7 Wall St.|

#budget-policy #economy #payroll-tax

politics1 month ago•9 min saved

DHS funding stalemate drags on as paychecks loom

Washington remains in a protracted standoff over Department of Homeland Security funding, risking tens of thousands of federal workers going unpaid for weeks or months while negotiations falter amid GOP divisions and Democratic resistance to immigration-enforcement changes; despite Trump paying TSA payroll and a Senate plan to fund most of DHS, House Republicans rejected it, leaving no clear bipartisan path before a potential summer deadlock as airport lines have temporarily eased.

via politico.com|

#aviation-security #budget-policy #government-shutdown

politics8 months ago•6 min saved

Shutdown Tensions Rise as Feds Prepare for Layoffs and Political Battles Escalate

Russ Vought, the White House budget director, is playing a key role in the government shutdown standoff by threatening federal layoffs to pressure Democrats, reflecting his long-held small-government ideology and willingness to test the limits of his role, which has drawn both support from allies and criticism from Democrats.

via Politico|

#budget-policy #federal-layoffs #government-shutdown