U.S. Economy

The U.S. budget deficit soared in January as Congress approved another massive coronavirus relief bill that sent direct aid to Americans still reeling from the pandemic, the Congressional Budget Office said this week.

The coronavirus relief package unveiled by House Democrats on Monday includes a major expansion of the Affordable Care Act that would boost premium subsidies already offered under the Obama-era health care law and increase their availability.

House Democrats on Monday unveiled their proposal to expand the Child Tax Credit as part of President Biden’s $1.9 trillion relief effort.

New data shows how recipients of the $600 stimulus checks distributed at the beginning of January spent the money.

A push by Democratic lawmakers and President Biden to increase the federal minimum wage from $7.25 to $15 an hour by 2025 would cut employment by 1.4 million.

President Biden is risking an early clash with progressive Democrats over a proposed minimum wage hike.

Treasury Secretary Janet Yellen downplayed fears of inflation as the Biden administration pushes a $1.9 trillion coronavirus stimulus package.

Texas Gov. Greg Abbott boasted that while most of the U.S. has suffered economically during the coronavirus pandemic, his state showed rising numbers in their workforce while others' saw heavy declines.

Most adults who reported receiving the second stimulus check, issued around the new year, used them to pay household expenses including utilities and telecom payments, according to recent data from the U.S. Census.

Stimulus payments have been a pandemic lifeline for many Americans. For some young adults, they have presented an opportunity to build up savings or pay off debt.

A slew of new hires in the professional and business service sector offset losses in other parts of the nation's pandemic-stricken economy.

The Senate signaled overwhelming support on for limiting wealthy Americans from receiving a third stimulus check.

The Labor Department released its closely watched jobs report on Friday morning, revealing the state of the U.S jobs market.

Simple tax forms are revealing the extent of the identity theft that made state-run unemployment offices lucrative targets for fraud during the pandemic.

New research suggests that the jobless aid is not reaching millions of out-of-work Americans. 

House and Senate Democrats on Thursday ramped up their pressure on President Biden to bypass Congress and unilaterally cancel $50,000 in student loan debt for millions of Americans. 

Congressional Democrats renewed their push on Thursday to give newborn Americans a $1,000 savings account.

Treasury Secretary Janet Yellen said Thursday that her meeting with top federal regulators later this morning will focus on whether recent market volatility warrants "further action." 

Although President Biden has maintained that that nearly $2 trillion emergency aid package needs to include direct payments worth $1,400, he's indicated that he's open to narrowing eligibility for the money in hopes of securing some GOP support. 

The number of Americans filing for first-time unemployment benefits fell slightly but remained elevated last week as the coronavirus pandemic continues to trigger a high number of layoffs.