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Business & Economy Full Story
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Trump economic adviser: ‘First quarter is going to squeak into the positive category’ |
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National Economic Council Director Kevin Hassett said Monday the “first quarter is going to squeak into the positive category,” even as anxieties around the economy rise nationwide. |
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Dow plunges 890 points after Trump declines to rule out recession |
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The stock market kicked off the week with steep losses Monday after President Trump declined Sunday to rule out the U.S. economy slowing into recession. |
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Ontario premier says he needs ‘to sit down as quickly as possible’ with Trump on tariffs |
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Ontario Premier Doug Ford said Monday that he needs “to sit down as quickly as possible” with President Trump regarding tariffs. |
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Welcome to Tax Watch, a new feature in The Hill’s Business & Economy newsletter focused on the fight over tax reform and the push to extend the 2017 Trump tax cuts this year. |
Tax committee endorses current law baseline for Trump tax extensions |
The official scorer of U.S. tax legislation says it will tabulate the costs of extending the 2017 Trump tax cuts based on current law despite a push from congressional Republicans to do it based on current policy. Joint Committee on Taxation (JCT) chief of staff Thomas Barthold endorsed the current law accounting baseline last week in response to a letter from five Democratic senators, including Sens. Elizabeth Warren (Mass.) and Peter Welch (Vt.). “The Joint Committee staff would provide the estimate relative to the relevant present law baseline reporting for the 10-year budget period,” Barthold wrote. If the JCT considered the expiring tax cuts as extending indefinitely into the future, as some Republicans have argued, it would mean that their $4.7 trillion price tag could effectively be ignored in the legislative math. Some Republicans have cried foul on this method, with Ways and Means committee member David Schweikert (Ariz.) going so far as to label it intellectually fraudulent. — Tobias Burns |
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The Hill’s Evening Report breaks down the day’s big political stories and looks ahead to tomorrow. Click here to sign up & get it in your inbox
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Upcoming news themes and events we’re watching: |
- The Labor Department releases consumer price index data for February on Wednesday at 8:30 a.m. EST.
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Business and economic news we’ve flagged from other outlets: |
- Delta issues a warning on the economy, slashing its profit forecast in half (CNN)
- DOGE chief Musk says he’s running his businesses ‘with great difficulty’ as Tesla shares tank (CNBC)
- Who Likes Tariffs? Some U.S. Industries Are Eager for Them.(NYT)
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Top stories on The Hill right now: |
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Canada slaps electricity tariffs on New York, Minnesota, Michigan |
The government of Ontario is applying a 25 percent surcharge starting Monday on electricity exports to three U.S. states in response to U.S. tariffs on Canada. Read more |
| Trump administration eyes 30 percent payroll reduction at National Park Service |
The Trump administration is eyeing a 30 percent payroll reduction at the National Park Service, signaling big cuts at a high-profile government agency that could make headlines during the summer vacation season. Read more |
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Opinions related to business and economic issues submitted to The Hill: |
- Trump wants to go after criminal networks. A new approach to sanctions is needed.
- How federal lands can be used to ease the housing crisis
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You’re all caught up. See you tomorrow! |
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