Taxes

Updated 3/28/2025: The President signed a continuing resolution (H.R. 1968) on March 15, 2025, that runs through September 30, 2025. Our analysis of...

The 119th Congress is expected to use the reconciliation process to pass legislation with a significant fiscal impact, such as extending the expiring...

In a recent letter, the Congressional Budget Office (CBO) estimated that extending and reviving various provisions from the Tax Cuts and Jobs Act...

Members of the Trump Administration and Congress have recently discussed the idea of waiving all taxes for those making less than $150,000 per year...

Now that the House and Senate have adopted separate budget resolutions with reconciliation instructions, lawmakers are discussing what to include in a...

Note: This is an update of our Tax Gap Primer using the latest available data from the IRS. One of the most fair and efficient ways for policymakers...

Update: JCT issued a response to the letter confirming the default approach to scoring tax legislation is using a current law baseline as established...

As Congress continues to discuss a compromise budget resolution between the House and Senate, setting the stage for reconciliation, the choice of...

The House Fiscal Year (FY) 2025 budget resolution would allow policymakers to add $2.8 trillion to primary deficits through 2034 via a reconciliation...

Note (2/19/2025): The below analysis was written before the committee marked up the resolution and added a requirement for an additional $500 billion...

The Congressional Budget Office (CBO) recently released its Options for Reducing the Deficit, outlining a number of options to reduce the deficit. We...