Taxes
Latest
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Tax Cut Extensions Are 50% Larger
Read moreExtending certain parts of the Tax Cuts & Jobs Act (TCJA) would reduce revenue by $4 trillion through 2034, according to new estimates from the Joint...
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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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Tax Cut Extensions Could Cost $4 Trillion or More
Read moreAccording to new Joint Committee on Taxation (JCT) estimates published by the Congressional Budget Office, extending the expiring or changing elements...
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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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Adding Debt to Tax Deal Would Be a Costly Blunder
Read moreSome lawmakers have recently suggested combining the House-passed Tax Relief for American Families and Workers Act of 2024 (also known as Wyden-Smith...
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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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CBO Says IRS Cuts Would Be Costly
Read moreRescinding $20 billion of Internal Revenue Service (IRS) funding would ultimately add over $30 billion to the deficit, including $24 billion through...
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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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Don’t Add SALT to the Tax Deal
Read moreAccording to press reports, the House is considering new tax cuts and changes to follow the Committee-passed tax agreement that would expand the Child...
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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...