New Interactive Tool: Build Your Own Tax Extensions

With large parts of the 2017 Tax Cuts and Jobs Act (TCJA) set to expire after 2025, policymakers will soon face important choices about the future of the tax code.

Try the new interactive Build Your Own Tax Extensions tool, which allows users to pick and design their own tax extension package. While a full extension could cost $3.4 trillion or more, this tool allows users to design a fair, pro-growth, and fiscally responsible alternative.

Try the Build Your Own Tax Extensions tool here.

The tool allows users to extend, expire, or modify different elements of the TCJA. Users can also set their own tax rates or let the tool determine the tax rates consistent with a fiscally responsible tax reform plan.

As policymakers begin to consider how to address the upcoming tax expirations, we hope this tool will help to foster a thoughtful conversation around this pivotal moment – well in advance of the December 2025 deadline.

Build Your Own Tax Extensions

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Student Loans Cost $340 Billion More than Expected

Based in part on new data from the Congressional Budget Office, this piece shows: The estimated federal cost of student loans issued between 2015 and 2024 has increased by $340 billion – from a projected gain of $135 billion in the 2014 baseline to an expected loss of $205 billion in the 2024 baseline. Much of the cost increase can be explained by the expansion and increased enrollment in income-driven repayment (IDR). In forward projections, graduate school loans are now nearly as subsidized as undergraduate loans and make up half of the cost of newly issued student loans. Reforming graduate loans to be cost-neutral would generate over $100 billion in deficit reduction over the next decade.

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