Tobias Burns

1 week ago | thehill.com | Tobias Burns

Retail sales slid in May amid an ongoing reset in U.S. trade policy that has both consumers and businesses watching what they spend. U.S. retail and food services were $715.4 billion in May, down 0.9 percent from April, the Commerce Department reported Tuesday. The drop was more than the 0.6-percent decrease that economists were expecting. It’s the second month in a row of declines and the sharpest monthly contraction since March 2023. Sales were up from the previous year by 3.3 percent.

1 week ago | thehill.com | Tobias Burns |Rachel Frazin |Nathaniel Weixel

The Senate Finance Committee on Monday unveiled its portion of President Trump’s “big, beautiful bill,” containing provisions on Medicaid, taxes and green energy tax credits. The committee’s text is the final piece of the upper chamber’s version of the bill to be released, and was the most highly anticipated. It contains some of the thorniest provisions that Senate GOP holdouts have expressed concerns about, and the issues that could set the upper chamber on a collision course with the House.

1 week ago | thehill.com | Tobias Burns

Senate Republicans’ tax and spending cut bill makes many of the core elements of their 2017 tax cuts permanent but scales back additional cuts from what the House passed. The Senate Finance Committee unveiled its version of the central piece of President Trump’s “big, beautiful bill” on Monday. The Senate bill locks in existing federal tax brackets, boosts the standard deduction and maintains the termination of personal exemptions — all without sunsets.

1 week ago | qcnews.com | Tobias Burns

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4 weeks ago | thehill.com | Tobias Burns

Congress’s tax-and-spending cut bill will receive an advertising campaign from a major business lobby as it faces widespread criticism for redistributing wealth and resources toward the upper strata of American society. The U.S. Chamber of Commerce, one of the nation’s largest business lobbies, will run the six-figure campaign across various media in targeted states and Congressional districts, though the group didn’t specify in a Friday release where exactly those would be.