Blog
Welcome to our blog – The Bottom Line, where you’ll find up-to-date commentary and analysis on the most important news in the fiscal world. Below is a list of our blog posts.
Appropriations Watch: FY 2025
Updated 9/17/24: Speaker Mike Johnson confirmed that a vote on a continuing resolution to extend government funding until March 28th, 2025 will occur...
House to Vote on Emissions Rule Repeal
The House of Representatives is expected to vote this week on a joint resolution to disapprove a rule finalized by the Environmental Protection Agency...
Repealing the WEP/GPO Provision Leads to Larger Deficits and Earlier Insolvency
Members of Congress recently filed a discharge petition on a bill to repeal Social Security’s Windfall Elimination Provision (WEP) and Government...
IRS Cuts Would Cause $66 Billion of Revenue Loss
The continuing resolution recently introduced in the House of Representatives would extend the $20.2 billion in rescissions to the Internal Revenue...
The 12-Month Rolling Deficit Totals $2.1 Trillion in August 2024
From September 2023 through August 2024, the federal budget deficit totaled $2.1 trillion based on estimates from the Congressional Budget Office (CBO...
How Big is the Tax Gap?
The Senate Finance Committee will hold a hearing on September 12 on tax avoidance and how it relates to the upcoming debate on extending the expiring...
Donald Trump’s Proposal to Lower the Corporate Tax Rate to 15%
President Trump recently proposed lowering the corporate tax rate from 21 to 15 percent for corporations that make their products in America. Under...
$16,500 Cut Awaits Retirees if Social Security Isn't Reformed
Former President Donald Trump and Vice President Kamala Harris have both said they would “protect” the Social Security program. However, neither has...
The Kamala Harris Plan for Taxing Capital Income
As part of her New Way Forward for Small Businesses, Vice President Kamala Harris announced her support for several policies that would increase taxes...
Lawsuit Alleges Department of Education May Imminently Cancel Student Debt
According to a complaint filed by a coalition of state attorneys general (AGs) led by Missouri, the Department of Education is preparing student loan...
Eugene Steuerle: Young Americans Can’t Keep Funding Boomers and Beyond
Dr. Eugene (Gene) Steuerle is an Institute fellow and the Richard B. Fisher chair at the Urban Institute, as well as a board member of the Committee...
SALT Cap Expiration Could Be Costly Mistake
Some policymakers have suggested allowing the $10,000 cap on the State and Local Tax (SALT) deduction to expire as scheduled at the end of 2025. We...