Latest
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Moore v. US Ruling Could Widen Deficits, Upend Tax Law
Read moreA pending Supreme Court case, Moore v. United States, could have implications that undermine existing tax law, upend the tax code, and cost the U.S...
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House Supplemental Should Find Real Offsets
Read moreToday, the House of Representatives released draft legislation to provide emergency funding related to the conflict in Israel and Gaza. The $14.3...
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What's in the White House's $56 Billion Domestic Supplemental Request?
Read moreLess than a week after requesting $106 billion for national security needs, the Biden Administration submitted to Congress a domestic emergency...
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Any Domestic Supplemental Should Be Paid For
Read moreThe White House submitted a supplemental appropriations request for domestic needs yesterday totaling $56 billion. The request includes funding for...
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ARCHIVE: Introducing the CRFB Debt Thermometer (2023)
Read moreNote: This is an archived version of the initial CRFB Debt Thermometer. For the most recent thermometer, see this page . Fiscal policy has profound...
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2023 Revenue Plunge Confirms 2022 Surge Was a Fluke
Read moreAfter surging to 19.3 percent of Gross Domestic Product (GDP) in Fiscal Year (FY) 2022, revenue in 2023 plummeted to 16.5 percent of GDP, according to...
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2023 Interest Costs Reach $659 Billion
Read moreAccording to final data from the Treasury Department, net interest costs reached $659 billion (2.5 percent of GDP) in fiscal year 2023, a $184 billion...
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IRS Estimates a $625 Billion Tax Gap
Read moreThe Internal Revenue Service (IRS) recently released a new analysis of the “ tax gap” – the difference between taxes owed to the federal government...
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What’s in the White House’s $106 Billion Supplemental Request?
Read moreThe Biden Administration submitted to Congress an emergency supplemental funding request last week totaling nearly $106 billion. The request includes...
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2023 Deficit Hit $1.7 Trillion
Read moreThe U.S. Department of the Treasury released its final Monthly Treasury Statement for Fiscal Year (FY) 2023, showing a $1.7 trillion deficit for the...
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At $1.7 Trillion, Our Deficit Is Much Too High
Read moreThe U.S. Treasury Department released the final Monthly Treasury Statement for Fiscal Year 2023 today, confirming the budget deficit totaled $1.7...
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CRFB Reacts to $106 Billion of Supplemental Funding
Read moreToday, the White House requested $106 billion of supplemental appropriations to address the conflicts in Ukraine, Israel, and Gaza as well as border...