Conventional estimates assume tariffs would reduce import levels consistent with elasticities derived from research and that all gained tariff revenue would be subject to income and payroll tax ...
The Republican Study Committee (RSC) Steering Committee released their position calling for deficit reduction in the upcoming budget reconciliation process, writing “Reconciliation legislation must ...
In May, CBO released an update to its Budget and Economic Outlook, showing cumulative deficits from 2014 to 2023 of $6.3 trillion and debt reaching 73.6 percent of GDP in 2023. We have also updated ...
Stabilizing debt over the next decade at its current share of the economy would require $9.0 trillion of deficit reduction relative to the Congressional Budget Office’s (CBO) ...
In order for the reconciliation process to begin, the House and Senate must pass a concurrent budget resolution that includes a deficit reduction or cost target for relevant committees. Each committee ...
The Committee’s Board comprises some of the nation's leading budget experts, including many past heads of the House and Senate Budget Committees, the Congressional Budget Office, the Office of ...
With the national debt on course to exceed its record as a share of the economy in the next two years, interest payments on the debt surging, and major trust funds approaching insolvency, policymakers ...
Large parts of the 2017 Tax Cuts & Jobs Act (TCJA) are set to expire at the end of 2025. Design your own solution below. The TCJA repealed the personal exemption and in its place nearly doubled the ...