Between campaign promises and concerns about the deficit, updating the tax code in 2025 will be no easy feat.

A new study looking at how U.S. Treasurys were bought and sold during peak pandemic casts doubt on this dynamic.

In this week’s “Make Me Smart” newsletter, we explore how President-elect Donald Trump’s campaign promises could shape the U.S. economy over the next four years.

Federal Reserve chair Jerome Powell said that we “don’t really know” why long-term bond yields have been going up.

“The Fiscal Ship” game demonstrates public policy trade-offs that go into government budgeting.

The federal deficit for 2020 was three times the size of last year’s deficit. It was the government’s largest annual shortfall in dollar terms.

We look into how the government borrows money and what it means in the long run.

The Treasury Department last offered a 20-year bond in the 1980s. This spring, it’s betting that certain types of investors will want to include them in their portfolios.

John Harwood of CNBC explains why Republicans “support spending cuts in theory” but have a hard time getting there in practice.

This is despite a revenue boost from President Trump’s tariffs on imports.