Taxes

Today the Supreme Court ruled that the International Emergency Economic Power Act (IEEPA) does not authorize the President to impose tariffs. We...

The Joint Committee on Taxation (JCT) recently published their latest estimates of individual and corporate tax expenditures. In total, JCT projects...

Updated projections from the Congressional Budget Office (CBO) show that tariffs enacted this year will reduce debt (including interest) by $3.0...

President Trump proposed paying a dividend of “at least $2,000 a person” with new tariff revenue in a post on Truth Social this weekend. The post...

The federal government raised $195 billion in customs duties in Fiscal Year (FY) 2025, more than 250% of what it collected in FY 2024, according to...

As Congress considers the possibility of a second reconciliation bill, lawmakers should ensure it reduces deficits rather than adds to them as the...

On August 7, the Trump Administration finalized a new set of “reciprocal tariff rates” that generally range from 10 to 41 percent. Assuming they...

Note: This blog was updated on 8/4/25 to reflect CBO's newly-released estimates of the permanent cost of certain expiring tax provisions in OBBBA. The...

Marc Goldwein is Senior Vice President and Senior Policy Director of the Committee for a Responsible Federal Budget and Anthony Colavito is a Social...

The 119th Congress is expected to use the reconciliation process to pass legislation with a significant fiscal impact, such as extending the expiring...