3 urgent tasks awaiting Trump’s pick for Treasury secretary
CNN
Ensuring the US doesn’t default on its obligations. Extending trillions of dollars in tax cuts before they expire. Quarterbacking President-elect Donald Trump’s plans for the economy.
Ensuring the US doesn’t default on its obligations. Extending trillions of dollars in tax cuts before they expire. Quarterbacking President-elect Donald Trump’s plans for the economy. The incoming Treasury secretary, whomever Trump ultimately picks, will face a confluence of deadlines and campaign promises that will make the early days on the job even more challenging than usual. By the time the Trump takes office, it’s likely that the US will have hit the debt ceiling, forcing the Treasury Department to use so-called extraordinary measures to allow it to continue paying the nation’s bills on time and in full. And congressional Republicans will be rushing to extend Trump’s landmark 2017 tax cuts act before a multitude of pricey provisions lapse at the end of next year. All the while, the secretary-to-be will have to help execute Trump’s economic gameplan, which was voters’ top concern in the election. “We have twin fiscal cliffs that start off next year. The debt limit begins the year, the tax cuts end the year,” said Ed Mills, Washington policy analyst at Raymond James. “The Treasury secretary is going to be at the center of those fights and is going to be monitoring the economic impact.” The Treasury Department will likely have to deal with the debt limit at the start of the new year. Congress suspended the cap as part of the 2023 debt ceiling agreement, but it will return effective January 2.
Congressional Republicans have sent lawmakers home for the holidays without voting to address the Obamacare subsidies cliff that will hit millions of Americans on New Year’s Day — infuriating some of their own rank and file.
A jury found a Wisconsin judge – accused of helping an undocumented immigrant dodge federal authorities – guilty of obstruction Thursday, marking a victory for President Donald Trump as he continues his sweeping immigration crackdown across the country.
A number of Jeffrey Epstein survivors voiced their concern in a private meeting with female Democratic lawmakers earlier this week about the intermittent disclosure of Epstein-related documents and photos by Democrats on the House Oversight Committee, sharing that the selective publication of materials was distressing, four sources familiar with the call told CNN.
The US military conducted strikes against two alleged drug-trafficking boats in the eastern Pacific Ocean on Thursday, killing 5 people, according to US Southern Command.
Four-term North Carolina Democratic Gov. Jim Hunt, a towering figure in North Carolina politics in the late 20th century who helped leaders from both major parties strive for public education reform, died Thursday at the age of 88, his daughter Lt. Gov. Rachel Hunt announced.
President Donald Trump announced Thursday the White House will host the “Patriot Games,” a competition with young athletes from across the county, as part of the celebration of the United States’ 250th anniversary next year.
Susie Wiles’ recently published interviews in Vanity Fair are remarkable for a multitude of reasons. But perhaps leading that list was what the White House chief of staff said about Venezuela.
With under two weeks to go before he’s sworn in, New York City mayor-elect Zohran Mamdani has not announced many hires for his administration. One of the few that he has announced was forced to almost immediately resign Thursday after her past antisemitic tweets came to light.
The board of trustees of the John F. Kennedy Center for the Performing Arts voted Thursday to rename the facility after both the former president and President Donald Trump.
Peruvian scientist Rosa Vásquez Espinoza joins forces with indigenous communities to protect a disappearing species that is crucial to the health of the rainforest.
Frustration is mounting inside the Justice Department as it races to redact thousands of pages of files related to Jeffrey Epstein before they must be released Friday, multiple sources familiar with the process told CNN.
The GOP-controlled House passed a bill that would block Medicaid funds from being used for gender identity care to minors.
The one-time bonuses President Donald Trump said Wednesday will be paid out to over a million US service members will be pulled from funds already approved by Congress to cover housing and other household costs for troops as part of a military stipend program.