The White House released President Joe Biden's $6.9 trillion budget proposal Thursday, a plan for 2024 that includes tax increases for wealthy Americans and a goal to reduce the federal deficit by ...

The Congressional Budget Office projects a $641 billion budget deficit for the fiscal year that started Oct. 1 — and that's assuming the fiscal cliff actually happens and is in effect for three ...

Under the cliff agreement, in 2017 spending falls to 21.5 percent of GDP, while revenues rise to about 19 percent for a deficit of about 2.5 percent of GDP, which is not too bad.

The "fiscal cliff" is a combination of dramatic spending cuts and tax increases mandated to take effect beginning January 2013 if Democratic and Republican lawmakers cannot bridge their ...

T he fiscal cliff was a lousy metaphor. It wasn’t really a cliff; the country tore past the deadline without plunging. The combination of deep spending cuts and damaging tax hikes Congress ...

The New York State Comptroller said Tuesday that several of New York City’s fiscal challenges could result in a budget gap nearing $10 billion by 2026 — potentially affecting essential ...

The current budget law that created the so-called “fiscal cliff” was written in a high-stakes moment in July 2011 as an impasse over raising the federal debt ceiling left the Treasury just ...

Former President Donald Trump’s tax cuts are slated to expire after 2025, and the federal budget deficit could complicate tax policy negotiations.

The latest budget forecast came out Wednesday and it shows the state running surpluses for three years before falling off a fiscal cliff by 2029.. Source of deficit. Almost half the projected $5.1 ...