Taxes
Latest
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Tax Cut Extensions Cost Over $3.3 Trillion
Read moreSome parts of the 2017 Tax Cuts and Jobs Act (TCJA) have recently expired or changed, and large portions of the TCJA will expire by the end of... -
We Must Not Backslide on Fiscal Responsibility Act
Read moreThe bipartisan Fiscal Responsibility Act (FRA) enacted last month was projected to generate $1.5 trillion of deficit reduction – more than any... -
IRA Energy Provisions Could Cost Two-Thirds More Than Originally Estimated
Read moreAt the time of its passage, the Congressional Budget Office (CBO) and Joint Committee on Taxation (JCT) estimated that the Inflation Reduction Act... -
W&M Tax Bill Undermines FRA Savings
Read moreThe American Families and Jobs Act (AFJA) that recently passed the House Ways and Means Committee would add $320 billion to the deficit over the next... -
W&M Tax Bill Would Cost Over $1 Trillion if Made Permanent
Read moreThe House Ways and Means Committee will soon consider the American Families and Jobs Act, legislation to temporarily extend various business tax... -
Revenue Surge Comes to an End
Read moreAfter surging to a near-record 19.6 percent of Gross Domestic Product (GDP) last fiscal year, revenue has fallen to 17.7 percent of GDP over the past... -
Breaking Down the Proposals in the President's FY 2024 Budget
Read moreThe FY 2024 President’s budget includes policy changes that it estimates would reduce budget deficits by $3 trillion over a decade, the net effect of... -
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... -
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... -
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... -
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... -
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...