Taxes
Latest
-
Further SALT Relief Would Be a Mistake
Read moreThe House reconciliation bill extends the cap on the state and local tax (SALT) deduction, raising it to $30,000 for taxpayers making less than $400...
-
Permanent Ways & Means Bill Could Add $5.3 Trillion to Deficits
Read moreThe House Ways & Means Committee is set to mark up its title of the Fiscal Year (FY) 2025 reconciliation bill on Tuesday. The Joint Committee on...
-
Ways & Means Draft Could Add $5 Trillion to Deficits
Read moreUpdate (5/10/2025): This piece was published prior to the Joint Committee on Taxation's revenue estimate , which totals $4.9 trillion for the bill as...
-
Options for Reducing Energy-Related Tax Breaks
Read moreUpdate: The offset options below were estimated prior to enactment of the One Big Beautiful Bill Act (OBBBA) and have not been updated. OBBBA phased...
-
Ways & Means Has Plenty of Deficit Reduction Options
Read moreThe Ways and Means Committee has jurisdiction over nearly $50 trillion of spending and tax breaks that can be tapped for reconciliation, including...
-
Energy & Commerce Has Plenty of Options
Read moreUnder the House's reconciliation instructions, the Energy & Commerce Committee is tasked with identifying at least $880 billion of net deficit...
-
Extending TCJA is as Big as Doubling Social Security’s Shortfall
Read morePolicymakers are considering an extension of expiring parts of the Tax Cuts and Jobs Act (TCJA) as part of a reconciliation bill, which could reduce...
-
Unpaid-for Tax Cuts Would Shrink Incomes, CBO Finds
Read moreThe Congressional Budget Office (CBO) recently found that extending the 2017 Tax Cuts and Jobs Act (TCJA) and adding $1.5 trillion in additional tax...
-
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...
-
How Much Will Trump’s New Tariffs Raise?
Read moreOn April 2, the Trump Administration announced a series of so-called " reciprocal tariffs” applied to nearly every country with which the United...
-
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...
-
Senate Budget Could Enable Unprecedented Deficit Increase
Read moreThe Senate’s proposed concurrent Fiscal Year (FY) 2025 budget resolution would allow policymakers to add $5.8 trillion to primary deficits through...