Taxes
Latest
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W&M Tax Bill Would Cost Over $1 Trillion if Made Permanent
Read moreThe House Ways and Means Committee will soon consider the American Families and Jobs Act, legislation to temporarily extend various business tax...
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Revenue Surge Comes to an End
Read moreAfter surging to a near-record 19.6 percent of Gross Domestic Product (GDP) last fiscal year, revenue has fallen to 17.7 percent of GDP over the past...
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Unpaid-For Tax Cuts Would Be Irresponsible and Hypocritical
Read moreAccording to press reports, the House majority is currently considering a tax cut package that would extend or reverse several business provisions...
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IRS Funding Repeal Could Cost Over $100 Billion, Encourage Tax Cheating
Read more1/9 Update: CBO released a score of the bill, incorporated below. The House is likely to vote today on a bill that would rescind roughly $70 billion...
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End-of-Year Changes Need Offsets
Read moreAs policymakers continue to negotiate a possible omnibus appropriations bill, there is also discussion of attaching a variety of revenue and mandatory...
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CBO Releases 2022 Budget Options Report
Read moreThe Congressional Budget Office (CBO) released its Options for Reducing the Deficit: 2023 to 2032 report this week, outlining 76 policy options and...
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Budget Experts Urge Congress: No New Borrowing for Remainder of 2022
Read moreToday budget experts from the Committee for a Responsible Federal Budget, Concord Coalition, Progressive Policy Institute, and R Street Institute sent...
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Year-End Borrowing Could Worsen Deficits and Inflation
Read moreWith 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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EARN Act Would Cost $80 Billion Without Gimmicks
Read moreThis analysis is an update to a previous analysis of the Enhancing American Retirement Now Act to account for the introduction of the legislation...
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IRS Releases Updated Tax Gap Analysis
Read moreThe 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
Read moreWith 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
Read moreThe Congressional Budget Office (CBO) just released a final score of the Inflation Reduction Act, finding it would reduce deficits by $238 billion...