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The Latest Breaking News from Committee for a Responsible Federal Budget

Trump's $2,000 tariff 'dividends' would cost twice as much as the revenue coming in, budget watchdog warns

“If tariff dividends are paid annually, deficits would increase by $6 trillion over ten years,” per the Committee for a Responsible Federal Budget.

Fortune

CRFB Slams $1.8 Trillion Deficit Amid 'Pointless And Wasteful' Shutdown: 'Will Lose Our Status As A Superpower'

The Committee for a Responsible Federal Budget (CRFB), a nonpartisan budget watchdog, condemned the ongoing U.S. government shutdown as “pointless and wasteful”, while unveiling the staggering $1.8 trillion federal deficit for the fiscal year 2025.

Benzinga

Where are they now? - Roll Call

Here’s what former members of the 118th Congress are doing today.

Roll Call

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Cuts to Social Security Benefits Could Top $21,000 for High-Income Couples

Benefits will be slashed 21% starting in 2033 if Social Security is not fixed, according to a new report. This is how much you could lose in annual benefits.

Kiplinger

Taxes won’t immediately rise from Biden student loan plan as GOP argues, experts say

WASHINGTON — Texas Republican lawmakers have been quick to attack President Joe Biden’s student loan forgiveness plan as a heavy burden for taxpayers. However, the arguments used don’t give the full picture of the situation faced by millions of families now sorting out how the forgiveness program impacts them.

Tribune News Service

Fact check: Will taxes go up for the middle class under the new Democratic plan?

WASHINGTON — Republicans are warning people: The new Democratic-written tax and spending law is going to mean a bigger tax burden, whether you make $40,000 or $400,000.

McClatchy Washington Bureau

Biden will cancel $10,000 of student debt for many borrowers

WASHINGTON — President Joe Biden announced Wednesday that he is canceling $10,000 in student debt for individuals earning less than $125,000 annually and extending a pause on loan repayments for all borrowers through the end of the year.

Los Angeles Times

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Biden plans student debt relief announcement Wednesday

WASHINGTON — President Joe Biden intends to announce his long-delayed decision on canceling some student debt on Wednesday. Biden has yet to finalize the details of his plan, but any choice he makes on the contentious issue is likely to draw criticism from both parties and risks shifting the political…

Los Angeles Times

Commentary: A better, fairer way to handle student loans

President Joe Biden is set to “forgive” $10,000 worth of student loan debt per borrower, for a total of $360 billion in loan elimination. This may sound like a neat and easy solution, but the direct result will be to increase inflation, drive college costs even higher, and place lower-cost…

Tribune News Service

Latest White House plan would forgive $10,000 in student debt per borrower

Biden’s administration is firming up plans to cancel $10,000 in student debt per borrower for people who earned up to $150,000 the year before

The Independent UK

Where does student loan forgiveness stand? Borrowers wait anxiously on Biden

Kayla Camacho was halfway through her master’s degree when federal student loan payments were paused in March 2020.

People

Cathy McMorris Rodgers

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Committee for a Responsible Federal Budget

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