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.
IRS Estimates a $625 Billion Tax Gap
The Internal Revenue Service (IRS) recently released a new analysis of the “ tax gap” – the difference between taxes owed to the federal government...
2023 Deficit Hit $1.7 Trillion
The U.S. Department of the Treasury released its final Monthly Treasury Statement for Fiscal Year (FY) 2023, showing a $1.7 trillion deficit for the...
House Site-Neutral Policy Should Save More
House leadership recently introduced the Lower Costs, More Transparency Act, that unifies multiple legislative proposals from the Energy and Commerce...
IRS Rescission Would Worsen Deficits
Rescinding $25 billion of IRS funding would result in the loss of $49 billion in revenue and increase deficits by $24 billion over ten years...
NDAA Includes $150 Billion Deficit-Increasing Program
The Senate-passed National Defense Authorization Act for Fiscal Year (FY) 2024 (NDAA) would increase the deficit by $153 billion over a decade...
Interest Rates Remain Near Record Highs
Interest rates continue to surge, hitting new post-financial crisis records. Over the past month, yields on the ten-year Treasury note have risen more...
Tim Scott's Proposal for Cutting Spending, Cutting Government, and Cutting Taxes
GOP presidential candidate and Senator Tim Scott (R-SC) recently unveiled a comprehensive economic plan, titled “ Build. Don’t Borrow." The plan is...
Revised Projections from CBO, OMB, & Fed Give Hope of “Soft Landing”
Recent economic forecasts from the Congressional Budget Office (CBO), the Office of Management and Budget (OMB), and the Federal Reserve (Fed) present...
Maya MacGuineas: Finally, a Serious Idea to Address the National Debt
Maya MacGuineas is president of the Committee for a Responsible Federal Budget and head of the Campaign to Fix the Debt. She recently wrote an opinion...
More Deficit-Increasing Tax Cuts from the Ways & Means Committee
Tomorrow, the House Ways and Means Committee is scheduled to mark up two bills to expand Health Savings Accounts (HSAs). The bills will reduce revenue...
87% Chance of Shutdown, Per CRFB Budget Experts' Poll
The odds of a government shutdown, per the unscientific CRFB Budget Experts' Poll, have shot up to 87 percent (after dropping one expert's prediction...
Kent Conrad and Rob Portman: It isn’t hopeless. We can fix our debt and deficit problems.
Kent Conrad is a former senator, former Chairman of the Senate Budget Committee, and a director of the Committee for a Responsible Federal Budget. Rob...