Latest
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CBO's First Score of House Reconciliation Bill
Read moreThe Congressional Budget Office (CBO) released its first comprehensive estimate of the House’s Fiscal Year (FY) 2025 reconciliation bill – the One Big...
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Explaining Federal Spending and Revenue
Read moreIn Fiscal Year (FY) 2024, federal outlays totaled $6.8 trillion (23.4 percent of GDP) while federal revenues totaled $4.9 trillion (17.1 percent of...
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Further SALT Cap Relief Only Benefits High Earners
Read moreRaising the current $10,000 cap on the State and Local Tax (SALT) deduction would primarily benefit high earners . Further increasing the cap above...
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Senate Unanimously Agrees to Another Tax Giveaway
Read moreYesterday, the Senate passed by unanimous consent the No Tax on Tips Act, a bill that would create a federal income tax deduction of up to $25,000 a...
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Stop Making Reconciliation Worse
Read moreAs lawmakers continue to negotiate new policies and adjustments to the House’s reconciliation bill, the “One Big Beautiful Bill Act,” the list of...
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Changes Move Reconciliation Bill in the Wrong Fiscal Direction
Read moreThe House of Representatives may vote on the reconciliation package, or the “One, Big, Beautiful Bill Act” (OBBBA), this week. House leadership...
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House Bill Would Put 3% Deficit Far Out of Reach
Read moreTreasury Secretary Scott Bessent has frequently discussed the importance of reducing annual deficits to 3 percent of Gross Domestic Product (GDP) –...
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Interest Costs Could Explode from High Rates and More Debt
Read moreInterest costs are projected to approach $1 trillion this year, nearly triple 2020 levels. In light of current interest rates and the ongoing...
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Reconciliation Bill Sets up $4.8 Trillion Fiscal Cliff in 2028
Read moreAs written, the reconciliation bill being considered in the House of Representatives is set to increase the debt by $3.3 trillion between 2025 and...
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America’s Truss Moment?
Read moreAs the House considers a reconciliation package that is shaping up to add $3.3 trillion to the debt over a decade as written – or $5.2 trillion if...
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Maya MacGuineas on CBS News' "America Decides"
Read moreCommittee for a Responsible Federal Budget President Maya MacGuineas recently joined CBS News' "America Decides" with host Major Garrett to discuss...
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Moody’s Downgrade Highlights Seriousness of Fiscal Situation
Read moreThe credit rating agency Moody’s downgraded the credit rating of the US government from “Aaa” to “Aa1,” specifically noting that they “do not believe...