Taxes
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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... -
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... -
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... -
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... -
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... -
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... -
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... -
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... -
Primer: Understanding the Tax Gap
Read moreNote: This is an update of our Tax Gap Primer using the latest available data from the IRS. One of the most fair and efficient ways for policymakers... -
Senators Push Back Against Current Policy Gimmick
Read moreUpdate: JCT issued a response to the letter confirming the default approach to scoring tax legislation is using a current law baseline as established... -
Putting the Reconciliation Resolution in Context
Read moreThe House Fiscal Year (FY) 2025 budget resolution would allow policymakers to add $2.8 trillion to primary deficits through 2034 via a reconciliation... -
Chartbook: Reconciliation 101
Read moreOn February 25, Marc Goldwein, senior vice president and senior policy director of the Committee for a Responsible Federal Budget, gave a presentation...