Tag #Fiscal Policy

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kathimerini.gr

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Apr 9, 10:13

Greece Faces Fiscal Constraints on 2026 Tax Cuts

Greece's 2026 tax cut plans face significant limitations due to EU fiscal commitments and the heavy reliance of the national budget (60% in 2023) on VAT and personal income tax, restricting the scope for substantial reductions to a few hundred million euros.

Greece Faces Fiscal Constraints on 2026 Tax Cuts

Greece's 2026 tax cut plans face significant limitations due to EU fiscal commitments and the heavy reliance of the national budget (60% in 2023) on VAT and personal income tax, restricting the scope for substantial reductions to a few hundred million euros.

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What are the main obstacles preventing Greece from implementing significant tax cuts in 2026?

Greece faces constraints on significant tax cuts in 2026 due to EU commitments and the high reliance of its budget on VAT and personal income tax. The government is limited to a few hundred million euros for tax adjustments next year, hindering substantial changes to personal income tax.

elmundo.es

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Apr 8, 04:12

Portugal's Economic Model Faces Tariffs, Defense Spending Increase

Portugal, under Finance Minister Joaquim Miranda Sarmento, is maintaining low unemployment (6.4%), controlled inflation (2.6%), and a fiscal surplus (0.7% of GDP) through tax cuts and controlled spending, while facing potential negative impacts from US tariffs and needing to increase defense spendin...

Portugal's Economic Model Faces Tariffs, Defense Spending Increase

Portugal, under Finance Minister Joaquim Miranda Sarmento, is maintaining low unemployment (6.4%), controlled inflation (2.6%), and a fiscal surplus (0.7% of GDP) through tax cuts and controlled spending, while facing potential negative impacts from US tariffs and needing to increase defense spendin...

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What specific measures has Portugal taken to reduce taxes while maintaining a fiscal surplus, and how sustainable is this model in the face of potential economic shocks?

Portugal's economic success hinges on simultaneous tax reduction and fiscal surplus maintenance. This is achieved through targeted tax cuts (income tax for young workers, corporate tax reductions), streamlined fiscal systems, and controlled public spending. The country aims to offset potential negative impacts from US tariffs through structured European action.

foxnews.com

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Apr 7, 19:16

House Republican Opposes Senate Budget Bill

House Freedom Caucus Chairman Andy Harris opposes the Senate's version of a budget reconciliation bill due to concerns over spending cuts, creating a potential roadblock for President Trump's legislative agenda; the Senate version mandates $4 billion in cuts, while the House version proposed $1.5 tr...

House Republican Opposes Senate Budget Bill

House Freedom Caucus Chairman Andy Harris opposes the Senate's version of a budget reconciliation bill due to concerns over spending cuts, creating a potential roadblock for President Trump's legislative agenda; the Senate version mandates $4 billion in cuts, while the House version proposed $1.5 tr...

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What is the immediate impact of House Freedom Caucus Chairman Andy Harris's opposition to the Senate's budget reconciliation bill?

House Freedom Caucus Chairman Andy Harris opposes the Senate's version of the budget reconciliation bill, citing concerns over spending cuts. He prefers the House and Senate work on their own versions before a final vote. This opposition marks a significant hurdle for the bill's passage.

elmundo.es

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Apr 7, 01:12

Spain Faces Looming Fiscal Crisis Due to Aging Population

Spain's aging population is drastically increasing public spending, particularly in pensions and healthcare, according to a new Airef report projecting a 7% deficit and 130% debt-to-GDP ratio by 2050 without reforms.

Spain Faces Looming Fiscal Crisis Due to Aging Population

Spain's aging population is drastically increasing public spending, particularly in pensions and healthcare, according to a new Airef report projecting a 7% deficit and 130% debt-to-GDP ratio by 2050 without reforms.

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How do recent pension reforms affect the long-term sustainability of Spain's public spending?

The Autoridad Independiente de Responsabilidad Fiscal (Airef) projects a continued increase in public spending, particularly in pensions (to 16% of GDP by 2050), healthcare, and long-term care. These increases are driven by demographic changes, specifically the aging of the baby boomer generation. Conversely, spending on unemployment and education is expected to decrease.

abcnews.go.com

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Apr 7, 13:16

Maryland Closes $3.3 Billion Budget Gap with Spending Cuts and Tax Increases

Maryland lawmakers addressed a $3.3 billion budget shortfall by implementing spending cuts of approximately $2 billion and tax increases generating roughly $1.6 billion in revenue; new taxes target high-income earners and specific services.

Maryland Closes $3.3 Billion Budget Gap with Spending Cuts and Tax Increases

Maryland lawmakers addressed a $3.3 billion budget shortfall by implementing spending cuts of approximately $2 billion and tax increases generating roughly $1.6 billion in revenue; new taxes target high-income earners and specific services.

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How did the political climate and differing perspectives on the budget deficit's origins influence the legislative process and the final budget outcome?

The budget adjustments reflect the state's reliance on federal funding, which was impacted by the Trump administration's policies. Republican opposition highlights the debate surrounding the deficit's causes and the chosen solutions. The state's financial reserves remain substantial, with approximately $2.1 billion in its rainy-day fund and a $300 million fund balance.

elmundo.es

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Apr 5, 07:18

Spain's €14.1 Billion Tariff Plan: Mostly Loans and Repurposed Funds

The Spanish government unveiled a €14.1 billion plan to offset tariff impacts, but over €6 billion is in loans, a third is reallocated existing EU funds, and the rest are existing measures, revealing minimal new financial commitment.

Spain's €14.1 Billion Tariff Plan: Mostly Loans and Repurposed Funds

The Spanish government unveiled a €14.1 billion plan to offset tariff impacts, but over €6 billion is in loans, a third is reallocated existing EU funds, and the rest are existing measures, revealing minimal new financial commitment.

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What is the actual financial commitment of the Spanish government's €14.1 billion plan to counteract tariff effects, and what specific new measures are included?

The Spanish government announced a €14.1 billion "Plan de Respuesta y Relanzamiento Comercial" to mitigate the effects of tariffs. However, over half of this sum consists of loans that businesses must repay, approximately €6 billion. A significant portion involves redirecting existing European funds and previously announced measures.

us.cnn.com

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Apr 8, 07:13

Senate Budget Plan Omits \$3.8 Trillion in Tax Cut Costs, Raises Debt Ceiling

The Senate approved a budget blueprint that omits \$3.8 trillion in costs for extending Trump's tax cuts, raising the debt ceiling by \$5 trillion while employing a novel budgetary technique, prompting criticism of a lack of transparency and potentially setting a concerning precedent.

Senate Budget Plan Omits \$3.8 Trillion in Tax Cut Costs, Raises Debt Ceiling

The Senate approved a budget blueprint that omits \$3.8 trillion in costs for extending Trump's tax cuts, raising the debt ceiling by \$5 trillion while employing a novel budgetary technique, prompting criticism of a lack of transparency and potentially setting a concerning precedent.

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How does the Senate's budget plan impact the overall national debt, and what are the immediate consequences of this approach?

Senate Republicans, using a novel budgetary approach, advanced a budget plan that effectively removes \$3.8 trillion in costs associated with extending President Trump's tax cuts. This maneuver, bypassing standard procedures, allows for increased spending while simultaneously enacting cuts elsewhere. The plan now faces further steps in Congress.

cnn.com

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Apr 7, 04:09

DOGE's Controversial Approach to US Budget Cuts

The Department of Government Efficiency (DOGE), led by Elon Musk, initiated budget cuts by targeting the US Agency for International Development (USAID), resulting in staff firings and program cuts, while largely avoiding larger, politically sensitive programs like Social Security and Medicare.

DOGE's Controversial Approach to US Budget Cuts

The Department of Government Efficiency (DOGE), led by Elon Musk, initiated budget cuts by targeting the US Agency for International Development (USAID), resulting in staff firings and program cuts, while largely avoiding larger, politically sensitive programs like Social Security and Medicare.

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What is the immediate impact of DOGE's initial focus on USAID, and how does this strategy reveal a larger political calculation?

The Department of Government Efficiency (DOGE), tasked with reducing the federal budget, initially targeted the US Agency for International Development (USAID), a relatively small agency with a $40 billion budget. This resulted in staff firings and program cuts, potentially causing widespread illness and starvation. The focus on USAID, rather than larger agencies like Medicare or the Defense Department, suggests a strategic choice to target a less politically protected area.

abcnews.go.com

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Apr 7, 10:11

States Move to Eliminate Income Taxes Amidst Economic Uncertainty

Mississippi and Kentucky are moving to eliminate income taxes, a trend among states with post-pandemic surpluses, despite risks of decreased federal funding and potential reliance on sales taxes disproportionately impacting low-income residents.

States Move to Eliminate Income Taxes Amidst Economic Uncertainty

Mississippi and Kentucky are moving to eliminate income taxes, a trend among states with post-pandemic surpluses, despite risks of decreased federal funding and potential reliance on sales taxes disproportionately impacting low-income residents.

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How does the trend of state income tax reductions relate to broader economic factors, such as post-pandemic recovery and the potential impact of reduced federal funding?

The move to zero income tax reflects a broader trend of state tax cuts amidst economic uncertainty, potentially shifting tax burdens to sales taxes that disproportionately affect low-income individuals. States like Mississippi, heavily reliant on federal funds, risk financial crises if income tax cuts coincide with reduced federal support.

dutchnews.nl

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Apr 7, 16:10

Dutch Budget: Tightrope Walk Between Fiscal Prudence and Political Demands

Dutch Finance Minister Eelco Heinen faces a difficult budget negotiation with coalition parties demanding increased spending despite a lower-than-expected deficit, impacting healthcare, agriculture, defense, and social welfare; the process is complicated by global economic uncertainty and legal chal...

Dutch Budget: Tightrope Walk Between Fiscal Prudence and Political Demands

Dutch Finance Minister Eelco Heinen faces a difficult budget negotiation with coalition parties demanding increased spending despite a lower-than-expected deficit, impacting healthcare, agriculture, defense, and social welfare; the process is complicated by global economic uncertainty and legal chal...

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What are the primary financial challenges and opportunities facing Finance Minister Heinen in formulating the spring budget statement?

Finance Minister Eelco Heinen faces a challenging spring budget, needing to balance financial discipline with demands for increased spending from coalition parties. He has €8 billion in unexpected headroom due to a lower-than-expected budget deficit, but this is offset by losses from a rejected VAT increase and court rulings. Negotiations are underway, with various ministries requesting substantial funds for their priorities.

foxnews.com

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Apr 5, 22:14

Senate Passes Budget Framework for Trump Agenda, House Differences Remain

The Senate passed a budget resolution framework early Saturday, aiming to enact parts of President Trump's agenda, including tax cuts and border security, via the reconciliation process; however, discrepancies between the House and Senate versions, particularly regarding spending cuts, need to be re...

Senate Passes Budget Framework for Trump Agenda, House Differences Remain

The Senate passed a budget resolution framework early Saturday, aiming to enact parts of President Trump's agenda, including tax cuts and border security, via the reconciliation process; however, discrepancies between the House and Senate versions, particularly regarding spending cuts, need to be re...

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How do the differences between the House and Senate versions of the budget resolution impact the reconciliation process?

This bipartisan budget resolution utilizes the reconciliation process, allowing passage with a simple majority in the Senate. The process is traditionally used when one party controls all three branches of government, enabling swift passage of significant policy changes. Differences between the House and Senate versions, particularly regarding spending cuts, need to be reconciled before a final bill is produced.

zeit.de

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Apr 4, 13:18

Germany's Public Finance Deficit Rises to €104.4 Billion in 2024

Germany's public finance deficit rose to €104.4 billion in 2024, up from €91.7 billion in 2023, primarily due to increased social spending and military procurement, impacting municipalities and the federal government despite a reduction in the federal deficit.

Germany's Public Finance Deficit Rises to €104.4 Billion in 2024

Germany's public finance deficit rose to €104.4 billion in 2024, up from €91.7 billion in 2023, primarily due to increased social spending and military procurement, impacting municipalities and the federal government despite a reduction in the federal deficit.

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What were the main factors contributing to the increase in Germany's public finance deficit in 2024?

Germany's public finances recorded a €104.4 billion deficit in 2024, exceeding the €91.7 billion deficit in 2023. This is due to increased social spending and military procurement, impacting municipalities and the federal government.

Showing 25 to 36 of 478 results