Taxes

Update (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...

It 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 reconciliation instructions in the House’s Fiscal Year (FY) 2025 budget resolution – which allow up to $2.8 trillion of net borrowing through 2034...

In a recent letter, the Congressional Budget Office (CBO) estimated that extending and reviving various provisions from the Tax Cuts and Jobs Act...

Members of the Trump Administration and Congress have recently discussed the idea of waiving all taxes for those making less than $150,000 per year...

Note: 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...

Update: JCT issued a response to the letter confirming the default approach to scoring tax legislation is using a current law baseline as established...

The House Fiscal Year (FY) 2025 budget resolution would allow policymakers to add $2.8 trillion to primary deficits through 2034 via a reconciliation...

Note (2/19/2025): The below analysis was written before the committee marked up the resolution and added a requirement for an additional $500 billion...

Update: The offset options below were estimated prior to enactment of the One Big Beautiful Bill Act (OBBBA) and have not been updated. Some options...

According to a recent press report, the House may try to claim $3 trillion of deficit reduction as a result of “assumed economic growth from tax cuts”...