Taxes
Latest
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Maya MacGuineas: Washington should make a pledge: No new debt for the rest of 2022
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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Year-End Borrowing Could Worsen Deficits and Inflation
With inflation surging and debt approaching record levels, policymakers should avoid worsening the deficit and should at least pledge to add no new...
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IRS Releases Updated Tax Gap Analysis
The Internal Revenue Service (IRS) recently released an updated analysis of the “ tax gap” – the difference between taxes owed to the federal...
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Year-End 'Extenders' Could Worsen Deficits and Inflation
With inflation surging and debt approaching record levels, policymakers might make the fiscal situation even worse in an end-of-the-year fiscal...
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CBO Scores IRA with $238 Billion of Deficit Reduction
The Congressional Budget Office (CBO) just released a final score of the Inflation Reduction Act, finding it would reduce deficits by $238 billion...
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The Inflation Reduction Act Would Reduce the Tax Gap
Of the $790 billion of savings and offsets in the Inflation Reduction Act (IRA) , about $125 billion would come from improving tax compliance...
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What's In the Inflation Reduction Act?
Update (9/7/2022): The Congressional Budget Office has released an official score of the final version of the Inflation Reduction Act, finding it will...
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Build Your Own Carbon Tax
One way for the federal government to raise new revenue and reduce greenhouse gas emissions would be by putting a price on carbon. A carbon tax could...
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Christopher Towner: Cut debt and tax carbon to help bring down inflation
Chris Towner is research director at the Committee for a Responsible Federal Budget. He recently wrote an opinion piece for Madison News , an excerpt...
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Reconciliation Could Improve Medicare Solvency
According to press reports, policymakers are considering broadening the base of the 3.8 percent Net Investment Income Tax (NIIT) or self-employment...
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Reducing Drug Prices and the Tax Gap
As lawmakers negotiate a possible reconciliation bill, they should look to offsets from the House-passed Build Back Better Act (BBB) to help fund new...
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CBO Estimates TCJA Extensions Could Cost Up to $2.7 Trillion
The Congressional Budget Office's (CBO) latest baseline spells out what the federal budget will look like under current law, but also estimates the...