Latest
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IRS Cuts Would Cause $66 Billion of Revenue Loss
Read moreThe continuing resolution recently introduced in the House of Representatives would extend the $20.2 billion in rescissions to the Internal Revenue...
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CBO Estimates $1.9 Trillion Deficit for First 11 Months of Fiscal Year
Read moreIn the first eleven months of fiscal year 2024, the United States borrowed $1.9 trillion, including $381 billion in August, according to the latest...
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How Big is the Tax Gap?
Read moreThe Senate Finance Committee will hold a hearing on September 12 on tax avoidance and how it relates to the upcoming debate on extending the expiring...
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The 12-Month Rolling Deficit Totals $2.1 Trillion in August 2024
Read moreFrom September 2023 through August 2024, the federal budget deficit totaled $2.1 trillion based on estimates from the Congressional Budget Office (CBO...
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Donald Trump’s Proposal to Lower the Corporate Tax Rate to 15%
Read morePresident Trump recently proposed lowering the corporate tax rate from 21 to 15 percent for corporations that make their products in America. Under...
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$16,500 Cut Awaits Retirees if Social Security Isn't Reformed
Read moreFormer President Donald Trump and Vice President Kamala Harris have both said they would “protect” the Social Security program. However, neither has...
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The Kamala Harris Plan for Taxing Capital Income
Read moreAs part of her New Way Forward for Small Businesses, Vice President Kamala Harris announced her support for several policies that would increase taxes...
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Lawsuit Alleges Department of Education May Imminently Cancel Student Debt
Read moreAccording to a complaint filed by a coalition of state attorneys general (AGs) led by Missouri, the Department of Education is preparing student loan...
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Eugene Steuerle: Young Americans Can’t Keep Funding Boomers and Beyond
Read moreDr. Eugene (Gene) Steuerle is an Institute fellow and the Richard B. Fisher chair at the Urban Institute, as well as a board member of the Committee...
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SALT Cap Expiration Could Be Costly Mistake
Read moreSome policymakers have suggested allowing the $10,000 cap on the State and Local Tax (SALT) deduction to expire as scheduled at the end of 2025. We...
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Congress Should Strengthen Administrative PAYGO
Read moreThe Fiscal Responsibility Act (FRA) of 2023 re-established Administrative PAYGO (Pay-As-You-Go) – a rule requiring the executive branch to offset...
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Interest, Social Security, and Health Responsible for Nearly 90% of Spending Growth
Read moreIn the latest Congressional Budget Office (CBO) baseline, nominal spending is projected to grow from $6.8 trillion in Fiscal Year (FY) 2024 to $10.3...