The Bottom Line

March 12, 2014

Earlier today, we wrote that the the House Republican SGR bill would add to long-term deficits by using a timing gimmick to pay for permanent costs with temporary savings. It turns out, a Democratic alternative introduce by Rep. John Tierney (D-MA) would replace this gimmick with another – the war spending gimmick.

March 12, 2014

While the relevant congressional committees recently reached agreement on a bipartisan plan to replace the Sustainable Growth Rate (SGR) formula with a payment structure to better incentivize high-quality, higher-value care, the question of how to pay for that reform remains unresolved.

March 12, 2014

The administration’s Office of Management and Budget (OMB) released its report to Congress on Monday detailing the sequester’s impact on mandatory spending programs for Fiscal Year (FY) 2015, and it shows a notable about-face on the fate of the ACA’s cost-sharing subsidies.

March 11, 2014

OMB just published additional information, explanations, tables, and projections related to this year's budget -- known as the Analytical Perspectives. As part of that information, OMB published long-term estimates for the federal budget under the President's policies. 

March 10, 2014
(By Restoring Abandoned Policies to the President's Budget)

We talked last week about several policies making their first appearance in the President's budget. What we didn't mention is that in addition to introducing new policies, the President has dropped a few old ones. Among the policies the President had previously proposed but did not include in this year's budget are:

March 10, 2014

The Earned Income Tax Credit (EITC), which provides low-income taxpayers with a refundable tax credit that increases up to a certain point along with wages, has garnered bipartisan attention over recent weeks for its ability to encourage work. The credit has been around since the 1970s, and throughout its history has generally been supported by members on both sides of the aisle.

March 10, 2014
A Camp-ground for Tax Reformers

Gene Steuerle, Richard B. Fisher chair and Institute Fellow at the Urban Institute, wrote a post on the Tax Policy Center's blog, TaxVox. It is reposted here.

March 7, 2014

On Tuesday, the President released his budget, detailing his priorities for the upcoming year and beyond. Facing declining federal investment, the President's new budget places an emphasis on restoring some of the sequester cuts to discretionary and mandatory spending passed in the Budget Control Act of 2011.

March 7, 2014

On Tuesday, the President released his annual budget proposal, which details his priorities for FY 2015 as well as the coming decade. We published a paper analyzing the budget, and will continue to delve into specific parts of the budget in the upcoming week.

March 7, 2014

With the release of the FY 2015 President's budget, the Obama Administration has now presented six annual budget plans (and an additional proposal to the Super Committee). As you can imagine, there are a lot of policies in this year's budget that are holdovers from previous ones, but there are also new ones. This blog will highlight major new policies in this year's proposal.

March 7, 2014

In a Washington Post article last weekend, Zachary Karabell takes issue with the importance placed on CBO scoring of legislation, arguing that the focus on cost estimates prevents the country from spending on projects that could strengthen long-term economic growth.

March 6, 2014
Weekly Update on Budget and Fiscal Policy Developments and a Look Ahead

Stumbling Back Home – Budget Day and Fat Tuesday collided this week as the White House unveiled its $3.9 trillion Fiscal Year 2015 budget request on Tuesday, a month later than the law dictates. The budget landed as people around the world partied ahead of Lent. It is fitting that the two events collided given that the budget this year, maybe even more than usual, primarily centers on parties, namely the political parties.

March 6, 2014

On Tuesday, the Tax Policy Center (TPC) released an estimate of Senator Mike Lee's Family Fairness and Opportunity Tax Reform Act.

March 5, 2014

OMB's projections for the President's FY2015 budget show the debt falling from a post-WWII record next year of nearly 75 percent of GDP down to 69 percent by 2024. In our same-day analysis of the President's budget yesterday, we expressed encouragement that the President continues to propose various revenue and spending reforms to bring down the debt according to his projections.

March 4, 2014

The President's budget is here, and so is CRFB's analysis. Our paper breaks down the key budget metrics, the policies the President uses to get there, and the economic assumptions that underlie the document. You can read the full analysis here.

March 4, 2014

This morning, President Obama released his FY2015 budget, outlining the priorities for FY2015 and the coming decade. In this blog, we provide an overview of the projections contained in the President's budget and outline some of his major proposals. Be sure to stay tuned to CRFB and The Bottom Line throughout the day and throughout the week as we take closer looks at all aspects of the President’s budget.

March 3, 2014
Presidents Budget to Be Released Tomorrow

The President is scheduled to release his budget tomorrow, which will detail his policy priorities for the coming decade. The budget typically details an array of new policy proposals and last year included a deficit reduction offer that reflected the end point of negotiations with House Speaker John Boehner (R-OH) during the fiscal cliff showdown.

March 3, 2014

Tomorrow, President Obama will release his FY2015 budget, which will detail his visions and priorities for the upcoming years. In previous years, the President has included proposals to reform spending and the tax code in a way that would contribute to deficit reduction.

The Fix the Debt campaign today released a publication outlining what they would like to see from the President's FY2015 budget. Specifically, they would appreciate seeing the following:

March 3, 2014
Some Light at the End of the Tunnel

Judd Gregg, former chairman of the Senate Budget Committee, wrote an op-ed in The Hill today. It is reposted here.

After much ado and little done in Washington, is that a glimmer of light we see coming down the tracks? It could be, maybe.

February 28, 2014

Along with its analysis of the conventional revenue impacts (summarized here by CRFB), the Joint Committee on Taxation (JCT) analyzed the potential economic impacts of Chairman Camp's proposal, also known as a macro-dynamic estimate.

Syndicate content