Public finance news

Here are some recent public finance news articles and updates:

Federal Budget and Spending

• The US government has reached a deal to avoid a shutdown, with a temporary spending bill passed by Congress to fund the government through December 11. (Source: The Hill)
• The White House has released its budget proposal for 2022, which includes a $4.8 trillion spending plan and a call for significant cuts to entitlement programs. (Source: The New York Times)

Tax Policy

• The IRS has announced plans to increase funding for tax enforcement and compliance, with a focus on addressing tax evasion and identity theft. (Source: Tax Notes)
• A new report from the Congressional Budget Office estimates that the 2017 tax cuts will add $1.9 trillion to the national debt over the next decade. (Source: The Washington Post)

State and Local Finance

• California has passed a budget that includes a $14 billion surplus, with plans to use some of the funds to address homelessness and affordable housing. (Source: The Sacramento Bee)
• New York City has announced plans to increase its minimum wage to $15 per hour for all employees, with the goal of reducing poverty and income inequality. (Source: The New York Times)

Public Debt and Deficits

• The national debt has surpassed $27 trillion, with the Congressional Budget Office estimating that it will continue to grow in the coming years. (Source: The Wall Street Journal)
• A new report from the Government Accountability Office warns that the federal government's debt is unsustainable and could lead to a fiscal crisis if left unchecked. (Source: The Hill)

Infrastructure and Transportation

• The US Department of Transportation has announced plans to invest $1.5 billion in infrastructure projects, including road and bridge repairs, public transportation, and bike and pedestrian infrastructure. (Source: The Hill)
• A new report from the American Society of Civil Engineers estimates that the US needs to invest $2 trillion in infrastructure over the next decade to maintain its economic competitiveness. (Source: The Washington Post)

Economic Development and Trade

• The US and China have reached a trade deal, with the US agreeing to reduce tariffs on Chinese goods and China agreeing to increase its purchases of US agricultural products. (Source: The New York Times)
• A new report from the Economic Policy Institute estimates that the US-Mexico-Canada Agreement (USMCA) will have a positive impact on the US economy, but also warns of potential negative effects on certain industries. (Source: The Hill)