By Bloomberg News | 02/25/14 05:15 PM
Gov. Chris Christie proposed the largest budget in New Jersey history, a $34.4 billion plan swollen by rising costs for health benefits, pensions and debt. Spending would rise 3.5 percent from this fiscal year’s $33.3 billion as the state makes a $2.25 billion payment, the biggest ever, to...
By Susan Ferrechio | 02/25/14 03:39 PM
Senate Minority Leader Mitch McConnell, R-Ky., said he has “no hope” that Congress will be able to pass a comprehensive tax reform measure this year. McConnell, speaking to reporters after a private meeting with rank-and-file Republicans, blamed the hold up on Senate Majority Leader Harry...
By Sean Lengell | 02/25/14 03:06 PM
The No. 2 Democrat in the House has dismissed a Republican plan to simplify the tax code as nothing more than partisan gamesmanship, saying it will take a genuine bipartisan effort to push through meaningful reforms. Rep. Dave Camp, R-Mich., is expected on Wednesday to introduce a GOP tax...
02/25/14 10:05 AM
MILWAUKEE — The U.S. Department of Agriculture announced Tuesday it will spend millions of dollars to help farmers and ranchers improve pastures in five Midwestern states to provide food for the nation's struggling honeybees. Commercial honeybees pollinate an estimated $15 billion worth of...
By Angela Delli Santi | 02/25/14 08:55 AM
In excerpted remarks released by his administration, Christie says the pension reforms enacted during his first term don't go far enough. "Without additional reforms, New Jersey taxpayers still owe $52 billion to fully fund the pension system," he says in the remarks.
By Stephen Ohlemacher | 02/25/14 08:49 AM
The plan, which is to be unveiled Wednesday, would lower the top income tax rate from 39.6 percent to 25 percent, said a GOP aide who spoke on condition of anonymity. However, the plan would impose a new 10 percent surtax on some earned income above about $450,000.
By Bradley Klapper | 02/25/14 08:47 AM
The Obama administration's push for a smaller, nimbler military must now face the scrutiny of a Congress that has spent years battling the Pentagon's vision for a new security strategy.
By Veronique de Rugy | 02/25/14 05:28 AM
Those worried that the federal government has gotten too big to manage likely weren't reassured in September when House Minority Leader Nancy Pelosi claimed there is nothing left to cut from the almost $3.8 trillion-a-year budget for fiscal 2014.
By Tim Mak | 02/24/14 05:32 PM
The Pentagon's coming budget request will reduce overall troop strength as the combat mission in Afghanistan recedes and budget restraint dominates the conversation in Washington, top defense officials said Monday. For the first time in more than a decade, the Defense Department is presenting...
By Associated Press | 02/24/14 10:55 AM
The gap between the wealthy and the poor is most extreme in several of the United States' most prosperous and largest cities. The economic divides in Atlanta, San Francisco, Washington, New York, Chicago and Los Angeles are significantly greater than the national average, according to a study...
By Associated Press | 02/24/14 10:37 AM
Residents of Ann Arbor, Ypsilanti and Ypsilanti Township are expected to vote in May on a proposed public transit tax to raise nearly $4.4 million in annual funding to implement a five-year transit improvement plan.
By Ryan J. Foley | 02/24/14 10:33 AM
The scores of losing players in last week's $425 million Powerball jackpot did more than take an extremely long shot at getting rich. Their ticket purchases also helped fund a small but increasingly important part of their states' budgets.
By Joseph Lawler | 02/24/14 08:34 AM
Is the Federal Reserve's taper tightening the money supply? Both former Fed Chairman Ben Bernanke and current Chairwoman Janet Yellen have been careful to reassure markets that they have not been trying to tighten money conditions by reducing monthly bond purchases by $10 billion at recent...
By Robert Burns | 02/24/14 08:22 AM
Pentagon chief Chuck Hagel is recommending shrinking the Army to its smallest size in decades in an effort to balance defense needs with budget realities, according to defense officials.
By Associated Press | 02/22/14 01:47 PM
As Detroit tries to rebound — a plan to emerge from bankruptcy was filed Friday — few groups, if any, have been feeling the pain of the city's financial collapse more than the police.
By Ashe Schow | 03/10/14
By Ashe Schow | 03/10/14
By Byron York | 03/10/14
By Michael Barone | 03/10/14
By Paul Bedard | 03/09/14