Taxes
Latest
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Weakening the SALT Cap Would be a Costly Mistake
Read moreAccording to press reports, policymakers are considering changes to the $10,000 state and local tax (SALT) deduction cap as part of their efforts to...
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Deficit-Reducing Reconciliation Is Just What We Need
Read moreEarlier today, a group of 28 Members of Congress signed a letter to incoming Congressional leadership recommending a two-step reconciliation process...
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Options to Raise Tariff Revenue
Read moreNote: This analysis was updated on 01/07/2025 to better reflect recent estimates of tariff policies by the Congressional Budget Office. As...
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Event Recap – 2025: The Fiscal Challenges Ahead
Read moreOn Tuesday, December 10, 2024, the Committee for a Responsible Federal Budget hosted more than 130 people at an in-person event, " 2025: The Fiscal...
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TCJA Extension Might Not Pay for Any of Itself
Read moreNew data from the Congressional Budget Office (CBO) finds that economic feedback may not cover any of the revenue loss and that TCJA extension might...
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Options for Reducing the Revenue Loss of TCJA Extension
Read moreExtending the individual and estate provisions from the Tax Cuts and Jobs Act (TCJA) expiring at the end of next year without offsets would add $3.9...
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Policymakers Should Include Dynamic Scores for Tax Reform
Read moreAs policymakers consider extending parts of the Tax Cuts and Jobs Act (TCJA) and possibly making other tax changes, there will be discussion about how...
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There Are Plenty of Offsets for Tax Cut Extensions
Read moreAs Congress considers extensions of the expiring provisions in the Tax Cuts and Jobs Act (TCJA), lawmakers will need to come up with $3.9 to $4.8...
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Congress Should Avoid a Costly End-of-Year Package
Read moreWith debt nearing record levels, interest payments surging, and major trust funds approaching insolvency, Congress should avoid worsening our already...
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You Can’t Just Wish Away Deficit Effects by Assuming Something is Permanent
Read moreSome lawmakers are making the case that expiring tax cuts should be considered permanent in order to hide the $3.9 trillion increase in deficits that...
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IRS Estimates a $606 Billion Tax Gap for 2022
Read moreThe Internal Revenue Service (IRS) recently published its projections of the “ tax gap” – the difference between taxes owed to and collected by the...
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Bipartisan Group of Lawmakers Introduce Employee Retention Tax Credit Repeal Act
Read moreIn response to concerns over fraudulent claims over the past few years, Senators Joe Manchin (I-WV), Mitt Romney (R-UT), and Thom Tillis (R-NC)...