Latest
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TCJA Extension Could Add $4 to $5 Trillion to Deficits
Read moreOur newly-released Build Your Own Tax Extensions tool is now updated to reflect the most recent estimates by the Congressional Budget Office (CBO) on...
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The Federal Tax Benefits for Nonprofit Hospitals
Read moreMore than half of the nation’s hospitals are designated as “charitable” nonprofit institutions by the Internal Revenue Service (IRS), exempting them...
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CBO Estimates $1.2 Trillion Deficit for First Eight Months of Fiscal Year
Read moreThe United States borrowed $1.2 trillion in the first eight months of fiscal year 2024, including $348 billion in May, according to the latest Monthly...
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Deficit Totaled $1.7 Trillion Over the Past Year
Read moreThe federal budget deficit totaled $1.7 trillion over the past 12 months, incorporating the $348 billion May deficit estimated by the Congressional...
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Appropriations 101
Read moreNote: This paper has been updated here. What are appropriations? How does Congress determine the total level of appropriations? How does Congress...
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Tax Cut Extension Would Only Pay for 1% to 14% of Itself
Read moreSeveral major elements of the 2017 Tax Cuts and Jobs Act (TCJA) are scheduled to expire at the end of 2025. While the estimated cost of extending...
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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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Income Growth Would Slow By One-Third Due to Rising Debt
Read moreA new report from the Congressional Budget Office (CBO) finds rising national debt will slow economic growth and reduce projected incomes. Compared to...
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CMS Finalizes Medicaid Rule Likely to Increase Spending
Read moreIn a rule finalized at the end of April, the Centers for Medicare and Medicaid Services (CMS) introduced significant changes to financing and...
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Maya MacGuineas: The grim future for Medicare and Social Security
Read moreMaya MacGuineas is president of the Committee for a Responsible Federal Budget and head of the Campaign to Fix the Debt. She recently wrote an opinion...
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Comments on Proposed Rule to Waive Student Debt
Read moreOn May 17, Committee for a Responsible Federal Budget's Senior Vice President and Senior Policy Director Marc Goldwein submitted comments on the...
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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...