July 29, 2025 05:06 PM GMT US Economics | North America Impacts of OBBBA on Consumer Spending and Cohorts We expect a slight boost to consumer spending in 2026 from the fiscal bill, but larger drags on spending in 2027 and beyond. Older and higher-income cohorts will benefit most, while spending cuts will negatively impact low-income consumers. We provide details on each new consumer provision. Key Takeaways Exhibit 1: We expect a small, ~15bp, boost to nominal spending in 2026 from the bill, but negative i ...

Secretary General Antonio Guterres is slashing more than $700 million in spending and laying plans to overhaul the United Nations as the US pulls back support https://t.co/jXvgmxwR9D ...

The Senate worked overnight to approve $9.4% billion in spending cuts requested by President Trump. The final vote was 51 to 48 with two Republicans opposing the measure. That was Senator Susan Collins of Maine and Lisa Marowsky of Alaska.This vote brings President Trump one step closer to having his Department of Government efficiency cuts approved by Congress. NBC News correspondent, Capitol Hill correspondent I should say, Julie Cirin joins us from Washington with more on this. Hey Julie, good morning.Wh ...

US senators exempt HIV/Aids funding from planned spending cuts https://t.co/RPq9krcRB6 ...

Senate Republicans reached an agreement Tuesday with the White House on a slimmed-down $9 billion package of spending cuts that preserves funding for AIDS treatments in Africa, a key concern for a group of GOP lawmakers https://t.co/icd6jLiP5L ...

President Donald Trump signed his marquee tax and spending cuts bill, enshrining in law an extension of tax breaks as well as funds to crack down on illegal immigration https://t.co/kCExKocIXC ...

The big, beautiful bill hitting some resistance in the House as lawmakers returned to Washington to vote on the Senate's version of the legislation. Joining us now from Washington is Bloomberg's Tyler Kendal. Now, Tyler, Speaker of the House Mike Johnson making this sound quite straightforward.I imagine this is not going to be straightforward through the next 24 hours. Yeah. Hey, Jon.Good morning. This is by no means a done deal, but we are only expecting President Trump to ramp up the pressure from here, w ...

On this vote, the yays are 50, the nays are 50. The Senate being evenly divided, the vice president votes in the affirmative. The bill as amended is passed.We're here on Capitol Hill where the Senate just passed President Trump's reconciliation package on a 51-50 vote with Vice President JD Vance casting the tiebreaker. The plan combines $4.5% trillion in tax cuts with $1.2% trillion in spending cuts. Senate Republicans were broadly in agreement about the main pillars of the bill, including when it came to ...

Tyler how likely doesn't look done that the senators can get this vote through in the early hours of this morning. Yeah. Hey, Dani.Good morning. Well, they would certainly like to because they've been there since 9 a. m.Eastern yesterday. But the thing is, Senate Majority Leader John Thune at the moment still does not have the votes. And we're still watching closely the same eight Republican holdouts that we've been discussing at this point for weeks.And the issue is, is that they broadly do agree about the ...

Just how strong is this pushback from the Republican Party over the weekend. Yeah. Hey, Jon.Good morning. Well, we know at least two Republicans who are likely no's, and that could serve a problem for Senate Majority Leader John Thune, because he can really only afford to lose one more before he has to call in Vice President J. D.Vance to cast a tie breaking vote. Now, one of them we just heard from that Senator Thom Tillis, a Republican from North Carolina. He's raised concerns about changes to Medicaid, i ...