Taxes
Latest
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2025 Reconciliation Resources
Read moreThe 119th Congress is expected to use the reconciliation process to pass legislation with a significant fiscal impact, such as extending the expiring...
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Unpaid-for TCJA Extension Would Shrink the Economy, CBO Says
Read moreIn a recent long-term analysis, the Congressional Budget Office (CBO) found that extending the 2017 Tax Cuts and Jobs Act (TCJA) would not only...
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How Much Will Trump’s New Tariffs Raise?
Read moreOn April 2, the Trump Administration announced a series of so-called " reciprocal tariffs” applied to nearly every country with which the United...
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Memo: CEA’s Flawed Analysis Does Not Show TCJA Extension Would Produce 3% Growth
Read moreSummary Points The estimates from the Council of Economic Advisors (CEA) 1 imply TCJA extension would boost average annual GDP growth to 2.1 percent...
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Senate Budget Could Enable Unprecedented Deficit Increase
Read moreThe Senate’s proposed concurrent Fiscal Year (FY) 2025 budget resolution would allow policymakers to add $5.8 trillion to primary deficits through...
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Rumored Senate Reconciliation Instructions Would Double Debt Growth
Read morePress reports indicate that Senate leadership may release a proposed concurrent budget resolution for Fiscal Year (FY) 2025 as early as today with...
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Fiscal Goals Become Very Difficult with Reconciliation Plans
Read moreIt would take more than $7 trillion of ten-year savings to stabilize debt at the size of the economy by Fiscal Year (FY) 2034. But rather than making...
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Tax Cut Extensions Would Add $37 Trillion to Debt by 2054
Read moreIn a recent letter, the Congressional Budget Office (CBO) estimated that extending and reviving various provisions from the Tax Cuts and Jobs Act...
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Ending Taxes Below $150,000 Would Lose $10 to $15 Trillion
Read moreMembers of the Trump Administration and Congress have recently discussed the idea of waiving all taxes for those making less than $150,000 per year...
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Primer: Understanding the Tax Gap
Read moreNote: 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...
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New Estimates Confirm Economic Growth Won’t Pay for Tax Cuts
Read moreThe latest estimates from third-party modelers confirm what we’ve said several times before: economic growth will not pay for tax cut extensions. New...
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Maya MacGuineas: The Drivers of our Debt and the Empty Rhetoric of Politics Today
Read moreMaya MacGuineas is president of the Committee for a Responsible Federal Budget. She recently wrote an opinion piece for the Ripon Forum , an excerpt...