Latest National budgets News

Companies facing 1st tax on stock buybacks in Biden bill

Aug. 16, 2022 16:52 PM EDT

WASHINGTON (AP) — Democrats have pulled off a quiet first in their newly signed legislation addressing climate change and health care: the creation of a tax on stock buybacks, a cherished tool of Corporate America that had long seemed untouchable. Under the bill President Joe...

What's in big Biden bill? Health, climate goals become law

Aug. 16, 2022 16:45 PM EDT

WASHINGTON (AP) — President Joe Biden arrived at the White House promising to “build back” America, and legislation he signed Tuesday delivers a slimmer, though not insignificant, version of that once sweeping idea. Approved by the divided Congress, the bill brings the biggest...

Inflation Reduction Act may have little impact on inflation

Aug. 16, 2022 16:11 PM EDT

WASHINGTON (AP) — With inflation raging near its highest level in four decades, President Joe Biden on Tuesday signed into law his landmark Inflation Reduction Act. Its title raises a tantalizing question: Will the measure actually tame the price spikes that have inflicted hardships on American...

Indonesian leader calls for unity, braces for global crises

Aug. 16, 2022 06:57 AM EDT

JAKARTA, Indonesia (AP) — Indonesia’s president called on all citizens to remain united, vigilant and alert as they face crises fueled by the war in Ukraine and coronavirus pandemic in his State of the Nation address Tuesday. After two years of remote meetings amid pandemic...

Pay pushes Venezuelan teachers to protest, consider quitting

Aug. 15, 2022 09:14 AM EDT

CARACAS, Venezuela (AP) — Public school teachers across Venezuela had planned to use their annual vacation bonus to buy uniforms for their children, waterproof leaky roofs, get new prescription glasses or fix the pair barely held together by adhesive tape. Some expected to get...

In Biden's big bill: Climate, health care, deficit reduction

Aug. 12, 2022 19:27 PM EDT

WASHINGTON (AP) — The biggest investment ever in the U.S. to fight climate change. A hard-fought cap on out-of-pocket prescription drug costs for Medicare recipients. A new corporate minimum tax to ensure big businesses pay their share. And billions left over to pay down federal...

EU to stop Greek budget watch in formal end to major crisis

Aug. 10, 2022 15:23 PM EDT

BRUSSELS (AP) — The European Union’s budget watchdog announced Wednesday that it is winding up years of surveillance of Greek government spending. The move marks a formal end to a major crisis that threatened to see Greece ejected from the euro single currency group, imposed severe hardship on...

AP FACT CHECK: GOP skews budget bill’s impact on IRS, taxes

Aug. 10, 2022 14:59 PM EDT

Republican politicians and candidates are distorting how a major economic bill passed over the weekend by the Senate would reform the IRS and affect taxes for the middle class. The “ Inflation Reduction Act,” which awaits a House vote after passing in the Senate on Sunday, would...

How Schumer's messy style delivers for Dems: 'I persist'

Aug. 08, 2022 18:40 PM EDT

WASHINGTON (AP) — Shoes off, an almost-empty container of leftovers, an unfinished glass of wine -- this was the exhausted portrait of one of the most powerful Democrats in Washington after Senate passage of President Joe Biden's sweeping health, climate and economic package. New...

Senate Democrats pass budget package, a victory for Biden

Aug. 07, 2022 18:48 PM EDT

WASHINGTON (AP) — Democrats pushed their election-year economic package to Senate passage Sunday, a hard-fought compromise less ambitious than President Joe Biden’s original domestic vision but one that still meets deep-rooted party goals of slowing global warming, moderating pharmaceutical...