Taxes
Latest
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Extensions Would Wipe Away President's Deficit Reduction
Read moreWe were very encouraged by the President’s call for $3 trillion of ten-year deficit reduction in his Fiscal Year (FY) 2024 budget proposal. However...
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Tax Policy Center Estimates Medicare Revenue Proposals
Read moreThe Tax Policy Center (TPC) recently published a report on “Options for Increasing Medicare Revenues.” This report identifies 12 options to increase...
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IRS Funding Repeal Could Cost Over $100 Billion, Encourage Tax Cheating
Read more1/9 Update: CBO released a score of the bill, incorporated below. The House is likely to vote today on a bill that would rescind roughly $70 billion...
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End-of-Year Changes Need Offsets
Read moreAs policymakers continue to negotiate a possible omnibus appropriations bill, there is also discussion of attaching a variety of revenue and mandatory...
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CBO Releases 2022 Budget Options Report
Read moreThe Congressional Budget Office (CBO) released its Options for Reducing the Deficit: 2023 to 2032 report this week, outlining 76 policy options and...
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Maya MacGuineas: Here’s A Blueprint For Tackling America’s Crippling National Debt
Read moreMaya 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...
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Maya MacGuineas: Washington should make a pledge: No new debt for the rest of 2022
Read moreMaya 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...
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Year-End Borrowing Could Worsen Deficits and Inflation
Read moreWith inflation surging and debt approaching record levels, policymakers should avoid worsening the deficit and should at least pledge to add no new...
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IRS Releases Updated Tax Gap Analysis
Read moreThe Internal Revenue Service (IRS) recently released an updated analysis of the “tax gap” – the difference between taxes owed to the federal...
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Year-End 'Extenders' Could Worsen Deficits and Inflation
Read moreWith inflation surging and debt approaching record levels, policymakers might make the fiscal situation even worse in an end-of-the-year fiscal...
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CBO Scores IRA with $238 Billion of Deficit Reduction
Read moreThe Congressional Budget Office (CBO) just released a final score of the Inflation Reduction Act, finding it would reduce deficits by $238 billion...
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The Inflation Reduction Act Would Reduce the Tax Gap
Read moreOf the $790 billion of savings and offsets in the Inflation Reduction Act (IRA), about $125 billion would come from improving tax compliance...