There is no requirement for both houses of Congress to pass a budget. If it fails to do so, budget resolutions from previous years carry over. Individual appropriations bills are used to fund necessary discretionary expenses. Those discretionary items include military spending and education, among o...
The birth of a child is not just a blessed event; it's the beginning of a whole new set of tax breaks for your family. Learn how the newest addition to your family can help trim your tax bill, and how to save for your child's future in the most tax-effic
While the government doesn’t directly offer free internet, programs like Lifeline can significantly reduce internet bills, potentially to zero dollars, for qualifying participants of government assistance programs, such as Medicaid and SNAP. Eligibility extends to those involved in federal assistance prog...
In 1917, when it was financing World War I with Liberty Bonds, Congress instituted a limit on US borrowing and the debt ceiling evolved from there as US debt has grown and grown and grown. Lawmakers must pass spending bills each year, and, along with mandatory spending on Medicare and Soci...
In February 1863, the U.S. Congress passed the National Bank Act. This act established a monetary system whereby national banks issued notes backed by U.S. government bonds. The U.S. Treasury then worked to get state bank notes out of circulation so that the national bank notes would beco...
Congress is unlikely to act on Biden’s plan, but it offers a glimpse of what he hopes to accomplish if reelected — and has Democrats in the Capitol to work with. Biden’s plan would build on the Inflation Reduction Act, the climate, health and social spending bill that...
It’s an election year, and a busy one at that: There’s a presidential election and regular elections for Congress and the Legislature. The governor’s seat will be up for grabs for the first time in a dozen years, creating a cascade effect in other state ...
At the federal level, AI-focused bills have been introduced in Congress but have not gained significant support or interest. AI regulation does, however, appear to be potentially emerging from the Federal Trade Commission (FTC). In recent years, the FTC issuedtwopublicationsforeshadowing increased ...
While Republican leaders cheered the bill's passage, it's dead in the Senate, and the White House said President Biden wouldveto the measure. Spending bills Congress has so far failed to enact any of the appropriations bills that fund the government, although this is not unusual. It has onl...
Tourists walk by a sign announcing that the Statue of Liberty is closed due to a government shutdown in New York on Oct. 1, 2013.AFP PHOTO/Emmanuel Dunand Many federal government agencies are funded annually by a dozen appropriations bills that need to be passed by Congress and signed by ...