U.S. Economy

President Biden's $1.9 trillion coronavirus relief bill could automatically trigger billions of dollars in cuts to Medicare and other federal programs, according to new findings published by the Congressional Budget Office.

House Democrats are set to pass President Biden's $1.9 trillion coronavirus relief package in a Friday evening vote.

Besides receiving cash payments, many Americans who have managed to keep their jobs have also been saving money for several months.

Under a $900 billion stimulus program signed by former President Donald Trump in late December, the federal government has been sending one-time cash payments of $600 to most households.

Progressive Democrats launched a last-minute campaign urging the White House to overrule a top Senate official who decided late Thursday night that a federal minimum wage increase could not be included in the coronavirus relief package.

A massive coronavirus relief bill that Democrats plan to pass on a party-line vote includes millions of dollars for a taxpayer-funded nonprofit group with a scandal-ridden history. 

The economy grew at a slightly faster pace in the final three months of 2020 than first thought, ending a year in which the overall economy shrank more than it had in the past seven decades.

The number of Americans filing for first-time unemployment benefits remained elevated last week, Labor Department figures show.

Progressives are threatening to withhold support for the COVID relief package if the measure doesn't include a long-sought minimum wage increase. 

Sen. Josh Hawley unveiled a new proposal on Wednesday that would use taxpayer money to increase the income of low-earning Americans.

House Democrats are barreling forward with passing a nearly $2 trillion coronavirus relief bill that includes a grab bag of provisions seemingly unrelated to the tandem health and economic crises.

President Biden pledged on the campaign trail to raise the corporate tax rate — an increase that could have a detrimental side effect on the U.S. economy.

More than 150 chief executive officers from some of the nation's biggest and most influential businesses endorsed President Biden's coronavirus relief plan on Wednesday

President Biden is reportedly laying the groundwork for another massive spending package that's likely to draw criticism from lawmakers already wary of the nation's already ballooning deficit as Congress moves forward with passing the administration's nearly $2 trillion coronavirus relief bill.

Republican Sens. Mitt Romney and Tom Cotton unveiled a proposal on Tuesday to raise the federal minimum wage to $10 per hour by 2025.

The Biden administration announced several changes to the Paycheck Protection Program this week, more strictly limiting which small businesses are eligible to receive forgivable loans through the federal rescue fund. 

Federal Reserve Chairman Jerome Powell said Tuesday the U.S. economy remains in the throes of the coronavirus pandemic, telling Congress during his semi-annual testimony that the outlook is "highly uncertain."

Home prices rose 10.4% year over year in December, according to the national Case-Shiller index, the fastest since January 2014.

House Democrats are on track to pass President Biden's nearly $2 trillion coronavirus relief package by the end of the week as Congress races to provide a fresh round of aid to families and businesses still reeling from the pandemic.  

Utah has an estimated budget surplus of $1.5 billion, even after a year of battling the COVID-19 pandemic that has hurt state tax revenues.