Larry Summers has President Biden’s ear — but not always his support

White House officials want the influential economist on their side, even if they don’t take his advice all the time

By Jeff Stein and Tyler PagerOctober 3, 2022

GOP states sue Biden administration to overturn student debt relief

The lawsuit challenges the White House's authority to cancel up to $20,000 in student debt for some borrowers. Meanwhile, the Education Department, in a reversal, said some privately-held loans will be excluded from forgiveness.

By Jeff Stein and Danielle Douglas-GabrielSeptember 29, 2022

Senate passes bill to avert shutdown, fund government until Dec. 16

Democrats and Republicans agreed to a stopgap spending bill that includes $12.4 billion in new assistance to Ukraine.

By Jacob BogageSeptember 29, 2022

Biden administration to grant Puerto Rico shipping waiver after uproar

The White House is pushing agencies to act quickly in approving a waiver that would allow a diesel shipment to land in Puerto Rico.

By Jeff Stein and Toluse OlorunnipaSeptember 28, 2022

CBO: White House plan to cancel student loan debt costs $400 billion

Supporters of student debt cancelation have argued some estimates overstate the policy’s price-tag.

By Jeff Stein and Danielle Douglas-GabrielSeptember 26, 2022

Fed unsure of economy’s direction as Wall Street meltdown worsens

Powell’s latest remarks noting uncertainty ahead come as the Fed’s anti-inflation fight is making slow progress, leaving the institution and its boss vulnerable to criticism over the cost to workers and businesses of continued rate hikes.

By David J. LynchSeptember 24, 2022

California is awash in renewable energy — except when it’s most needed

The state has moved quickly to build up solar power, but has not yet figured out how to store it for when demand peaks or to avert blackouts.

By Erica WernerSeptember 21, 2022

Clash over energy projects could threaten government funding bill

Democrats want to include Sen. Joe Manchin's proposal in legislation to avoid a shutdown. Republicans don’t.

By Jacob BogageSeptember 21, 2022

Long-distance passenger trains and grain shipments to be stopped, as rail strike looms

Top Republican lawmakers are preparing for Congress to intervene, though they said they still prefer a voluntary deal between unions and railroads to avert a freight rail strike.

By Jeff Stein and Lauren Kaori GurleySeptember 14, 2022

U.S. to redirect Afghanistan’s frozen assets after Taliban rejects deal

The Treasury Department said an oversight body will deploy $3.5 billion of Afghanistan’s central bank reserves to help stabilize the country’s ravaged economy.

By Jeff SteinSeptember 14, 2022

U.S. sent $1.3 billion in small business covid aid abroad, raising new fraud fears

The new report from the Small Business Administration inspector general raises concern the money might have benefited overseas crime syndicates.

By Tony RommSeptember 12, 2022

This Midwestern factory was dead. Electric vehicles revived it.

A sweeping retooling of the U.S. auto industry is underway, as automakers modernize old factories and break ground on new ones for the electric era.

By Jeanne WhalenSeptember 12, 2022

Biden’s visit shows high stakes of $20 billion Ohio chip factory

President Biden on Friday celebrated the start of construction of a $20 billion project aiming to reassert the United States as a major technology manufacturer after decades of offshoring, with the building of two giant Intel factories that could deliver tens of thousands of jobs in coming years.

By Jeanne WhalenSeptember 10, 2022

Thousands allegedly bilked U.S. for free internet — in one child’s name

The potential scam targeted the Affordable Connectivity Program, renewing fears that a program meant to close the country’s digital divide is at risk of fraud

By Tony RommSeptember 8, 2022

European Central Bank raises rates to tackle inflation, despite slowdown risks

The European Central Bank raised interest rates for the second time this year in a risky bid to cool off inflation without driving the economy into recession.

By David J. LynchSeptember 8, 2022

Treasury will warn White House that crypto needs major regulations

A new assessment from the Biden administration is expected to find that cryptocurrencies pose threats to investors.

By Jeff Stein and Tory NewmyerSeptember 8, 2022

IRS move toward free e-filing could end years of corporate domination

The tax agency got $15 million in the Inflation Reduction Act to study making its own free digital tax-filing platform, long a priority for Democrats.

By Jacob BogageSeptember 7, 2022

G-7 nations say they will cap the price of Russian oil

The move targets a major source of revenue for the Kremlin’s war in Ukraine

By Jeff Stein and Emily RauhalaSeptember 2, 2022

White House seeks $47 billion for covid, monkeypox, Ukraine and floods

The request sets the stage for a September showdown on Capitol Hill, where Republicans repeatedly have blocked Democrats’ attempts to pass more covid aid.

By Tony RommSeptember 2, 2022