Latest
-
Record Interest Next Year, Record Debt Projected in Just 3 Years
Read moreThe Congressional Budget Office (CBO) released its Update to the Budget and Economic Outlook today, projecting that the national debt will set a new...
-
Donald Trump’s Proposal to Exempt Tip Income from Federal Taxes
Read moreUS Budget Watch 2024 is a project of the nonpartisan Committee for a Responsible Federal Budget designed to educate the public on the fiscal impact of...
-
Maya MacGuineas Discusses Tax Policy on Bloomberg TV
Read moreCommittee for a Responsible Federal Budget President Maya MacGuineas recently joined Bloomberg TV's "Balance of Power" with host Joe Mathieu...
-
TCJA Extension Could Add $4 to $5 Trillion to Deficits
Read moreOur newly-released Build Your Own Tax Extensions tool is now updated to reflect the most recent estimates by the Congressional Budget Office (CBO) on...
-
The Federal Tax Benefits for Nonprofit Hospitals
Read moreMore than half of the nation’s hospitals are designated as “charitable” nonprofit institutions by the Internal Revenue Service (IRS), exempting them...
-
CBO Estimates $1.2 Trillion Deficit for First Eight Months of Fiscal Year
Read moreThe United States borrowed $1.2 trillion in the first eight months of fiscal year 2024, including $348 billion in May, according to the latest Monthly...
-
Deficit Totaled $1.7 Trillion Over the Past Year
Read moreThe federal budget deficit totaled $1.7 trillion over the past 12 months, incorporating the $348 billion May deficit estimated by the Congressional...
-
Appropriations 101
Read moreWhat are appropriations? How does Congress determine the total level of appropriations? How does Congress allocate appropriations? How are...
-
Tax Cut Extension Would Only Pay for 1% to 14% of Itself
Read moreSeveral major elements of the 2017 Tax Cuts and Jobs Act (TCJA) are scheduled to expire at the end of 2025. While the estimated cost of extending...
-
Tax Cut Extensions Are 50% Larger
Read moreExtending certain parts of the Tax Cuts & Jobs Act (TCJA) would reduce revenue by $4 trillion through 2034, according to new estimates from the Joint...
-
Income Growth Would Slow By One-Third Due to Rising Debt
Read moreA new report from the Congressional Budget Office (CBO) finds rising national debt will slow economic growth and reduce projected incomes. Compared to...
-
CMS Finalizes Medicaid Rule Likely to Increase Spending
Read moreIn a rule finalized at the end of April, the Centers for Medicare and Medicaid Services (CMS) introduced significant changes to financing and...