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E.U., in a First, Rejects Italy’s Proposed Budget

BRUSSELS — In a stinging and rare rebuke to a core member, the European Union sent back Italy’s proposed budget back to its populist government on Tuesday, saying that it posed unacceptable risks to Italy and the Eurozone. The European Commission, the bloc’s administrative body, told Rome that it would …

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Budget Deficit Jumps Nearly 17% in 2018

WASHINGTON — The federal budget deficit swelled to $779 billion in fiscal year 2018, the Treasury Department said on Monday, driven in large part by a sharp decline in corporate tax revenues after the Trump tax cuts took effect. The deficit rose nearly 17 percent year over year, from $666 …

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