Taxes
Latest
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CBO Releases June 2024 Baseline Update
Read moreThe Congressional Budget Office (CBO) today released new ten-year budget and economic projections – an update from its February baseline – again...
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Donald Trump’s Proposal to Exempt Tip Income from Federal Taxes
Read moreUS Budget Watch 2024 is a project of the nonpartisan Committee for a Responsible Federal Budget designed to educate the public on the fiscal impact of...
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TCJA Extension Could Add $4 to $5 Trillion to Deficits
Read moreOur newly-released Build Your Own Tax Extensions tool is now updated to reflect the most recent estimates by the Congressional Budget Office (CBO) on...
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Tax Cut Extension Would Only Pay for 1% to 14% of Itself
Read moreSeveral major elements of the 2017 Tax Cuts and Jobs Act (TCJA) are scheduled to expire at the end of 2025. While the estimated cost of extending...
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How Much will Biden’s Tariffs Raise?
Read morePresident Biden recently announced increases to a number of tariffs on Chinese imports, including for lithium-ion batteries, electric vehicles, and...
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Tim Penny & David Minge: Taxes increasingly paying for the past - not the future
Read moreTim Penny is co-chair and David Minge is a an emeritus board member of the Committee for a Responsible Federal Budget. Both are former representatives...
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2017 Tax Cuts Continue to Lose Revenue
Read moreUPDATE (June 2024): This analysis has been updated for CBO's June 2024 baseline update . The Congressional Budget Office (CBO) estimated the Tax Cuts...
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Donald Trump’s 60% Tariff on Chinese Imports
Read moreFormer President and current Republican presidential candidate Donald Trump recently proposed implementing a tariff of 60 percent or higher on imports...
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Event Recap – When the TCJA Expires: A Tax Policy Summit
Read moreOn March 28, the Committee for a Responsible Federal Budget hosted When the TCJA Expires: A Tax Policy Summit, an event focusing on the large parts of...
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New Interactive Tool: Build Your Own Tax Extensions
Read moreWith large parts of the 2017 Tax Cuts and Jobs Act (TCJA) set to expire after 2025, policymakers will soon face important choices about the future of...
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IRA Energy Provisions Cost Could Double With New Emissions Rule
Read moreLast April, the Environmental Protection Agency (EPA) proposed a new rule for stricter vehicle emissions standards starting in model year (MY) 2027...
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Employee Retention Credit Faces 7X Cost Overrun
Read moreThe pandemic-era Employee Retention Tax Credit (ERC) was designed to help businesses retain workers during the pandemic. But after low initial uptake...