Committee for a Responsible Federal Budget

Media Coverage

May 18, 2017|Pacific Standard

The Myth of America's High Corporate Taxes

Fixing the loophole of accelerated depreciation could mean simply changing to a straight-line depreciation model, according to the non-profit Committee for a Responsible Federal Budget.

May 18, 2017|The New York Times

Fact Check: Trump Is Contradictory on Comey and Misleading on Russia

In terms of nominal dollar value, Mr. Trump’s tax cut “would almost certainly be the largest in history,” according to the Committee for a Responsible Federal Budget. But as a percentage of the gross domestic product — a more appropriate measure given the dynamic size of the United States economy — it would be the third largest (2.3 percent over 10 years), after Mr. Reagan’s tax cut (2.9 percent) and President Harry S. Truman’s (2.7 percent).

May 18, 2017|Vox

Why some experts think the House might have a problem with its health care bill

The Committee for a Responsible Federal Budget, a group of budget experts who are pretty smart about these things, estimated that if 10 million more Americans were projected to buy insurance now, after the waivers were added, the bill would suddenly cost $115 billion.

May 18, 2017|The Hill

House held back ObamaCare repeal bill for potential second vote

Without those rules, more people could sign up for plans that are cheaper and less generous, drawing down more federal tax credits and costing more money. An analysis from the Committee for a Responsible Federal Budget (CRFB) found that if 6.5 million more people sign up, the bill would no longer reduce the deficit.

Ed Lorenzen, a CRFB expert, wrote in an email that it is “probably unlikely” that the updated bill would not reduce the deficit.

May 17, 2017|The Fiscal Times

Eight Gimmicks to Watch Out for When Trump Unveils His Budget

The Committee for a Responsible Federal Budget, a venerable budget watchdog, is urging Trump and the GOP-controlled House and Senate Budget Committees to strive for more honesty in the upcoming budget process.

“These gimmicks can make a budget look better and more responsible on paper while often opening the door to irresponsible policies that worsen the debt and sometimes even damage the economy,” the CRFB said in a new report.

May 16, 2017|Investor's Business Daily

Today's Words That Could Doom Trump's Tax Cuts

Those legislative priorities are already very likely to push tax legislation into 2018, with midterm elections looming. The difficulty of arriving at deficit-neutral legislation could extend the process further. An analysis of the White House outline by the Committee for a Responsible Federal Budget concluded that Trump's plan would raise deficits by upward of $3 trillion.

May 14, 2017|Washington Examiner

Why Republicans think replacing Obamacare would make tax reform easier

It's not necessarily convincing: Marc Goldwein, the senior policy director for the Committee for a Responsible Federal Budget, called it "pretty silly" in a recent interview with the Washington Examiner. He noted that, considered in isolation, the specific Obamacare taxes, such as the medical device tax, are not related to tax rates on individual or corporate income. Nevertheless, it's the Republican logic.

May 13, 2017|The Economist

The Trump trilemma: The contradiction at the heart of Trumponomics

The Committee for a Responsible Federal Budget, a think-tank, reckons that total-factor-productivity growth of 2.3% is needed for growth to hit 3% in the face of this demographic headwind. Such rapid productivity growth has not been achieved over any ten-year period since at least 1949 (see chart 2). A productivity boom on this scale would also probably widen the trade deficit, at least temporarily, for two reasons.

May 12, 2017|Modern Healthcare

GOP senators likely to pass ACA repeal bill​ because failure is not an option

Repeal of extra expansion funding would lead to about 9 million fewer people with coverage by 2026, according to the nonpartisan Committee for a Responsible Federal Budget. Conversely, retaining expansion funding would raise the bill's cost by $525 billion, the group estimated.

May 12, 2017|RealClearPolicy

Declaring War on Fiscal Responsibility

"The United States faces both security and fiscal threats. However, lawmakers continue to deploy a budget gimmick to increase military spending without paying for it. Increasing the national debt and blasting a hole through the federal budget is not a defensible strategy," writes Committee for a Responsible Federal Budget president Maya MacGuineas.

May 11, 2017|Axios

Senate health care effort wrestles with spending vs. coverage

The bottom line: "Something will have to give," said Ed Lorenzen, a senior advisor at the Committee for a Responsible Federal Budget.

May 11, 2017|Associated Press

GOP Officials: Trump Finalizing Budget With Domestic Cuts

"To achieve balance it's going to require some heroic assumptions about both economic growth and unspecified future cuts in discretionary spending, and probably some other optimistic assumptions, to make the numbers work," said budget analyst Ed Lorenzen of the Committee for a Responsible Federal Budget, which advocates for lower budget deficits.

May 11, 2017|The Legal Intelligencer

Trump's Tax Reform Proposal Answers Questions but Raises Many More

Mnuchin stated he foresees the economy will grow 3 percent a year because of the tax cuts.

On the other hand, the Committee for a Responsible Federal Budget, a nonprofit, bipartisan group, estimated Trump's proposal would lead to an approximately $5.5 trillion loss in government revenue over 10 years.

May 11, 2017|Daily Reckoning

Stockman: Trump's Tax Plan Never Had a Chance

Then when referencing the Committee for a Responsible Federal Budget (which Stockman is a Board Member of) the author highlighted, “The gross cost is $7.5 trillion and that perhaps the government could earn back $2 trillion through loophole closing and base broadening. My argument is, after ruling out charitable contributions, home mortgages and a Congress that says they won’t touch a health care exclusion… when you go through the math there is no $2 trillion that this Congress and Republican party will even remotely be able to put together.”

May 9, 2017|Washington Examiner

Jimmy Kimmel is everything that's wrong with America's healthcare debate

During the Democratic primaries, Bernie Sanders proposed a single-payer plan that, according to the campaign, would have cost $14 trillion over a decade, but according to the liberal Urban Institute, would have cost $32 trillion more than Obamacare. The taxes Sanders proposed would affect not only millionaires, but also low and middle-income Americans, and even then were deemed inadequate by the Tax Policy Center and the Committee for a Responsible Federal Budget. The plan would also mean that the over 150 million Americans who gain their insurance through their employer would stand to lose their current coverage.

May 9, 2017|Financial Times

Trump’s tax plan tries to take away the drinks tray

A one-page list of White House goals last month said far more about cutting rates than paying for them. Assurances that economic growth would fill a looming deficit gap were met with scepticism. The Committee for a Responsible Federal Budget estimated the proposals would lead to a loss of $3tn to $7tn over 10 years, hard to swallow for many Republican lawmakers.

May 9, 2017|Politico

Republicans war over taxes

The Trump administration says it wants to reform the code too, but the revised tax plan it released last week would amount to a $5.5 trillion tax cut, according to the Committee for a Responsible Federal Budget, and aides have said they don’t think it needs to be paid for.

May 8, 2017|Bloomberg BNA

House Budget Panel to Assume ACA Repeal Enactment: GOP Aide

Both House Speaker Paul D. Ryan (R-Wis.) and President Donald Trump have said enacting the health care bill would help with tax reform efforts, though the size of that benefit has been disputed. The Committee for a Responsible Federal Budget has said passing the House ACA repeal would drive revenue lower by about $622 billion over 10 years, less than the $1 trillion Ryan and Trump have touted, but still a substantial sum that the tax-writing committees wouldn’t have to deal with.

May 8, 2017|Akron Beacon Journal

Editorial: Tax cuts on top of tax cuts

What has been advanced are tax reductions mostly favoring the wealthiest households, or those doing well in this economy, with the Committee for a Responsible Federal Budget putting the cost at $5 trillion for the next decade.

May 8, 2017|The Washington Post

House Republicans struggle with costs of tax overhaul

That puts the tax-writing committee at odds with the White House, which rolled out a plan in late April that relies on slashed tax rates unleashing explosive — and, most economists say, unachievable — economic growth to largely pay for themselves. The Committee for a Responsible Federal Budget estimated the proposal would drain federal coffers by $5.5 trillion over 10 years.

May 5, 2017|FactCheck.org

Is Congress Exempt from GOP Health Bill?

As the Committee for a Responsible Federal Budget explained in a blog post, in order to not run afoul of the reconciliation rules, House committees drafting a bill cannot make changes that are the jurisdiction of other committees. Marc Goldwein, senior policy director of CRFB, told us Republicans likely feared a Senate parliamentarian might rule that a proposed insurance change for members of Congress would rightly fall to the Homeland Security and Governmental Affairs Committee — a ruling that could jeopardize the bill’s reconciliation status.

May 5, 2017|The New York Times

The House Passed Its Health Care Bill. Now the Scorekeepers Will Weigh In.

Edward Lorenzen, a senior adviser for the Committee for a Responsible Federal Budget, a research group, says the changes will cause fewer Americans to go without health insurance than the original bill. In an analysis of the changes, the group’s staff noted that any coverage increase would further erode any deficit savings from the bill.

May 5, 2017|The Hill

Congress approved $40B in spending through loopholes, watchdog says

The omnibus spending bill that Congress approved this week used gimmicks and loopholes to approve $40 billion in spending beyond the legal caps, according to the Committee for a Responsible Federal Budget (CRFB), a debt reduction advocacy group.

May 5, 2017|Bloomberg

Trump Takeaway From Health Bill Fight: Do Your Own Arm-Twisting

While details remain scant, the Committee for a Responsible Federal Budget released a rough estimate that Trump’s plan could cost the government $3 trillion to $7 trillion over a decade -- potentially “harming economic growth instead of boosting it.” Finding ways to pay for the cuts -- or negotiating shallower ones -- will be near the top of the agenda in talks with Congress.

May 4, 2017|The Washington Post

The GOP just voted to undo Obamacare without knowing how many people would lose health insurance

“After I pick my jaw up, there’s just no conceivable way it makes sense to vote for or against something until you know what effects it would have,” said Maya MacGuineas, president of the independent Committee for a Responsible Federal Budget (CRFB). “These are really important issues in terms of the costs, the coverage, the incentives, and we want to get those things right. We can’t do it by flying blind.”

May 4, 2017|NPR

GOP Passes Its Health Care Bill At Long Last, But Still A Long Way To Go

Get ready to hear a whole lot more about the "Byrd Rule." What's that? The Committee for a Responsible Federal Budget explains it this way:

May 4, 2017|The Washington Post

What is in the Republican health-care bill? Questions and answers on preexisting conditions, Medicaid and more.

Before Republicans added $8 billion this week to sway lawmakers concerned about the bill's impact on coverage for preexisting conditions, the Committee for a Responsible Federal Budget said the alterations could save up to $5 billion or cost as much as $265 billion. The uncertainty reflects a big unknown: how many states will seek waivers to change their benefits packages or the ratings rules that insurers must comply with under current federal law.

May 4, 2017|Yahoo! Finance

Obamacare repeal bill throws $8B at a $200B problem

Without a score, many argue Congress is voting blind. “You cannot justify voting for healthcare reform without knowing the cost,” Maya MacGuineas, president of the Committee for a Responsible Federal Budget, tweeted early Thursday. But the bill is largely unchanged from the previous AHCA that was yanked at the eleventh hour by Speaker Paul Ryan, who did not have the votes to ensure the bill’s safe passage. That bill was evaluated by the CBO.

May 3, 2017|USA Today

Democrats say they must show how tax cuts may put Social Security, Medicare at risk

With the president’s bid to replace the Affordable Care Act faltering, Republicans are turning their gaze to tax reform. The tax cuts could add $5.3 trillion to the national debt in the first decade, according to the non-partisan Committee for a Responsible Federal Budget. They feature a sharp cut in the corporate tax rate, from 35% to 15%, and reducing the number of tax brackets for individual filers from seven to three, with levels of 10%, 25% and 35%.

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