Tax Day 2015: Charts to Explain Our Tax System

In honor of tax day, CRFB and our partners at Fix the Debt released a Tax Day 2015 chartbook, with ten charts (and one table) that explain federal taxes – who pays them, what they pay for, and how they are collected.

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SGR Bill Triggers Several Rule Violations

We have described at length the fiscal irresponsibility of the Sustainable Growth Rate (SGR) reform bill passed by Congress -- both its significant near-term and long-term costs and its exemption of the cost of the bill from pay-as-you-go (PAYGO) rules. Read our PREP Plan, which includes a permanent fix for SGR. While Congress always averts this cut, it has almost always been paid for with other health savings. Learn more in our chartbook.

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Q&A: Everything You Need to Know About a Budget Conference

This year, Congress made it a priority to pass a concurrent budget resolution. Both the House of Representatives and Senate passed their own budget plans at the end of March, and now they must work through the differences in the two budgets through a budget conference committee. Both chambers have appointed conferees to serve on the committee.  In this Q&A, we explain how this budget conference will work, and what it intends to accomplish.

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Update: Impending Fiscal Speed Bumps

Lawmakers face a number of important budget related deadlines, or Fiscal Speed Bumps, that require legislative action.  Addressed irresponsibly, they could cause serious disruptions and/or add as much as $3 trillion to the debt over the next decade. But if dealt with thoughtfully, they offer an opportunity to pursue reforms. Click here to read the paper.

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CRFB's Blog: The Bottom Line

The House Appropriations Committee has kicked off appropriations season this week by starting to mark up Fiscal Year 2016 appropriations at the same time as the House approved its allocations to the individual appropriations subcommittees. Technically, the House is jumping the gun by marking up appropriations bills without the Budget Committees completing their conference agreement and setting topline spending limits.

April 23, 2015

The Committee for a Responsible Federal Budget is pleased to announce three new job openings at CRFB. Those who are interested can visit our jobs page for a detailed description of each position's responsibilities and qualifications.

Big economic policy news came last week when lawmakers announced a bipartisan agreement (H.R. 1890) to revive Trade Promotion Authority in order to give fast-track consideration for trade deals. Flying somewhat below the radar are two accompanying bills introduced in the House (H.R. 1891 and 1892) that would extend various trade-related provisions and fully offset them. The Senate Finance Committee is marking up versions of these bills today, although there is only a CBO score for the Senate equivalent of H.R. 1891. Here's a rundown of what's in the House bills.

At the end of May, lawmakers will have to reauthorize surface transportation spending, and by the summer, they will need to have a solution to address the Highway Trust Fund's impending insolvency. Hopefully, they will use an enduring and, more importantly, fiscally responsible solution in contrast to the irresponsible physician payment legislation.

Fortunately, a bipartisan group of House members led by Reps. Jim Renacci (R-OH), Bill Pascrell (D-NJ), Reid Ribble (R-WI), and Dan Lipinski (D-IL) introduced last week the Bridge to Sustainable Infrastructure Act, which would use fuel tax increases as an enforcement mechanism to force Congress to find a permanent solution to the HTF's financing issue.

 

 
June 4, 2013
CRFB's latest interactive tool "The Reformer" is a handy game that allows users to design their own Social Security plan. Users can select from a wide variety of benefit and revenue changes to make the system sustainably solvent. The tool then shows the effect on the program's finances and benefit and tax levels.
September 27, 2011
If you've ever wanted to design your own corporate tax reform, now you can with our new Interactive Tax Reform Calculator. There is no question that the U.S. corporate tax system is badly in need of reform, and leaders in both parties have been pursuing this goal.

CRFB Projects

The McCrery-Pomeroy SSDI Solutions Initiative is dedicated to identifying practical improvements to the Social Security Disability Insurance (SSDI) program. The SSDI Solutions Initiative is calling for academic papers on innovative ways to make the SSDI program better serve workers with disabilities, those who pay into the program, and the economy as a whole.

The Campaign to Fix the Debt is an unprecedented and bipartisan coalition that seeks to mobilize members of business, government, and policy communities to urge Congress and the President to enact a comprehensive debt deal.

The Moment of Truth (MOT) project is a non-profit, non-partisan effort that seeks to foster honest discussion about the nation’s fiscal challenges, the difficult choices that must be made to solve them, and the potential for bipartisan compromise that can move the debate forward and set our country on a sustainable path.