Taxes
Latest
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Experts Push Back on Current Policy Switch
Read moreAs Congress continues to discuss a compromise budget resolution between the House and Senate, setting the stage for reconciliation, the choice of...
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2025 Reconciliation Tracker
Read moreUpdated 4/16/25: On April 10, following action in the Senate, the House adopted a final concurrent budget resolution setting the stage for work on a...
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Deficits Could Reach $3.5T With Senate Instructions
Read moreThe concurrent budget resolution for Fiscal Year (FY) 2025, adopted by the House last week and the Senate the week prior, includes reconciliation...
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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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Unpaid-for TCJA Extension Would Shrink the Economy, CBO Says
Read moreIn a recent long-term analysis, the Congressional Budget Office (CBO) found that extending the 2017 Tax Cuts and Jobs Act (TCJA) would not only...
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Memo: CEA’s Flawed Analysis Does Not Show TCJA Extension Would Produce 3% Growth
Read moreSummary Points The estimates from the Council of Economic Advisors (CEA) 1 imply TCJA extension would boost average annual GDP growth to 2.1 percent...
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What’s in the Senate’s Concurrent FY 2025 Budget?
Read moreUpdate (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...
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Fiscal Goals Become Very Difficult with Reconciliation Plans
Read moreIt would take more than $7 trillion of ten-year savings to stabilize debt at the size of the economy by Fiscal Year (FY) 2034. But rather than making...
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The House’s $2 Trillion in Spending Cuts Should Be an Absolute Minimum
Read moreThe reconciliation instructions in the House’s Fiscal Year (FY) 2025 budget resolution – which allow up to $2.8 trillion of net borrowing through 2034...
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Upcoming Congressional Fiscal Policy Deadlines
Read moreUpdated 3/28/2025: The President signed a continuing resolution (H.R. 1968) on March 15, 2025, that runs through September 30, 2025. Our analysis of...
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Tax Cut Extensions Would Add $37 Trillion to Debt by 2054
Read moreIn a recent letter, the Congressional Budget Office (CBO) estimated that extending and reviving various provisions from the Tax Cuts and Jobs Act...
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Ending Taxes Below $150,000 Would Lose $10 to $15 Trillion
Read moreMembers of the Trump Administration and Congress have recently discussed the idea of waiving all taxes for those making less than $150,000 per year...