Senate

As Congress considers the possibility of a second reconciliation bill, lawmakers should ensure it reduces deficits rather than adds to them as the...

“Pay-As-You-Go” or PAYGO rules and laws require offsets for new tax cuts and mandatory spending so they do not add to the debt. 1 Too often these...

Representatives Ben Cline (R-VA) and Jared Golden (D-ME) introduced the Fiscal Contingency Preparedness Act (FCPA) today. This bill was also...

Note: This blog was updated on 8/4/25 to reflect CBO's newly-released estimates of the permanent cost of certain expiring tax provisions in OBBBA. The...

The Senate has passed its version of the Fiscal Year (FY) 2025 reconciliation bill – the One Big Beautiful Bill Act (OBBBA). The table below is a...

The latest Senate version of the One Big Beautiful Bill Act (OBBBA) would likely add roughly $4 trillion to the national debt, including interest. 1...

The Social Security and Medicare Trustees estimated in their 2025 annual reports on the programs that the retirement and hospital trust funds will...

As it currently stands, the Senate reconciliation bill is likely to add $3.5 to $4.2 trillion to the debt through Fiscal Year (FY) 2034, based on our...

Note: the Joint Committee on Taxation (JCT) has put together a current law score of the Senate Finance Committee tax proposals, which roughly match...

The Fiscal Year (FY) 2025 concurrent budget resolution reconciliation instructions would allow the House to add up to $2.8 trillion to primary...

The concurrent budget resolution for Fiscal Year (FY) 2025 has been adopted by both the House and Senate. It includes reconciliation instructions that...

Update (4/11/2025): The Senate adopted the budget described below on April 5, 2025, and the House adopted the budget on April 10, 2025, making this...