Taxes
Latest
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Tariff Repeal Needs Replacement to Avoid More Borrowing
Read moreThe Senate may soon vote on resolutions to repeal the national emergencies that the Trump Administration has utilized to put in place significant...
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Tariff Revenue Soars in FY 2025 Amid Legal Uncertainty
Read moreThe federal government raised $195 billion in customs duties in Fiscal Year (FY) 2025, more than 250% of what it collected in FY 2024, according to...
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An Employer Compensation Tax for Social Security and Medicare
Read moreThe Social Security retirement and Medicare Hospital Insurance (HI) trust funds are approaching insolvency, with both trust funds expected to be...
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A Second Reconciliation Bill Should Reduce Deficits
Read moreAs Congress considers the possibility of a second reconciliation bill, lawmakers should ensure it reduces deficits rather than adds to them as the...
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Tariffs Are Generating Meaningful New Revenue
Read moreOn August 7, the Trump Administration finalized a new set of “reciprocal tariff rates” that generally range from 10 to 41 percent. Assuming they...
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What's In the One Big Beautiful Bill Act?
Read moreNote: 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...
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Marc Goldwein and Anthony Colavito: OBBBA Didn't End Taxes on Social Security Benefits; Here's What We Could Do Now
Read moreMarc Goldwein is Senior Vice President and Senior Policy Director of the Committee for a Responsible Federal Budget and Anthony Colavito is a Social...
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2025 Reconciliation Resources
Read moreThe 119th Congress is expected to use the reconciliation process to pass legislation with a significant fiscal impact, such as extending the expiring...
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15 Major Problems with the Senate Reconciliation Bill
Read moreThe House is set to consider the Senate-passed reconciliation bill. Below we outline 15 major problems with the Senate-passed bill. 1. Adds $4.1...
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CBO Score Shows Senate OBBBA Adds Over $3.9 Trillion to Debt
Read moreThe Congressional Budget Office (CBO) just published their “current policy” score of the Senate reconciliation bill, showing the bill would add about...
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Senate OBBBA Violates House Budget Instructions
Read moreThe latest Senate version of the One Big Beautiful Bill Act (OBBBA) would likely add roughly $4 trillion to the national debt, including interest. 1...
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Senate SALT Giveaway is Far Bigger Than the House's
Read moreAlthough initially excluding any increase in the state and local tax (SALT) deduction cap from its bill, the latest Senate bill proposes even more...