Blog
Welcome to our blog – The Bottom Line, where you’ll find up-to-date commentary and analysis on the most important news in the fiscal world. Below is a list of our blog posts.
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IRS Estimates a $625 Billion Tax Gap
The 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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2023 Deficit Hit $1.7 Trillion
The 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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House Site-Neutral Policy Should Save More
House 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
Rescinding $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
The 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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Interest Rates Remain Near Record Highs
Interest rates continue to surge, hitting new post-financial crisis records. Over the past month, yields on the ten-year Treasury note have risen more...
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Tim Scott's Proposal for Cutting Spending, Cutting Government, and Cutting Taxes
GOP presidential candidate and Senator Tim Scott (R-SC) recently unveiled a comprehensive economic plan, titled “ Build. Don’t Borrow." The plan is...
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Revised Projections from CBO, OMB, & Fed Give Hope of “Soft Landing”
Recent economic forecasts from the Congressional Budget Office (CBO), the Office of Management and Budget (OMB), and the Federal Reserve (Fed) present...
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Maya MacGuineas: Finally, a Serious Idea to Address the National Debt
Maya 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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More Deficit-Increasing Tax Cuts from the Ways & Means Committee
Tomorrow, the House Ways and Means Committee is scheduled to mark up two bills to expand Health Savings Accounts (HSAs). The bills will reduce revenue...
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87% Chance of Shutdown, Per CRFB Budget Experts' Poll
The odds of a government shutdown, per the unscientific CRFB Budget Experts' Poll, have shot up to 87 percent (after dropping one expert's prediction...
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Kent Conrad and Rob Portman: It isn’t hopeless. We can fix our debt and deficit problems.
Kent Conrad is a former senator, former Chairman of the Senate Budget Committee, and a director of the Committee for a Responsible Federal Budget. Rob...