Latest
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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...
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House Site-Neutral Policy Should Save More
Read moreHouse leadership recently introduced the Lower Costs, More Transparency Act, that unifies multiple legislative proposals from the Energy and Commerce...
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IRS Rescission Would Worsen Deficits
Read moreRescinding $25 billion of IRS funding would result in the loss of $49 billion in revenue and increase deficits by $24 billion over ten years...
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NDAA Includes $150 Billion Deficit-Increasing Program
Read moreThe Senate-passed National Defense Authorization Act for Fiscal Year (FY) 2024 (NDAA) would increase the deficit by $153 billion over a decade...
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The Budget Act At 50 – Budget Process Reform Recommendations for the 118th Congress
Read moreThe Congressional Budget and Impoundment Control Act will turn 50 next year, and the budget process is showing its age. The current budget process is...
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Deficit Tops $1.7 Trillion As Interest Rates Surge
Read moreThe Congressional Budget Office (CBO) today released its final Monthly Budget Review of Fiscal Year (FY) 2023, finding that the budget deficit totaled...