Latest
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Bipartisan Group Urges Budget Reforms
A bipartisan group of 24 members of Congress – led by Reps. Scott Peters (D-CA) and Jodey Arrington (R-TX) – sent a letter to House leadership today...
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Bipartisan House Group Sends Letter Calling for Budget Reforms
Today, a bipartisan group of 24 members of the House of Representatives sent a letter to House leadership calling for the inclusion of budget process...
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Event Recap: Trust Fund Solutions
On February 17, Senators Angus King (I-ME) and Mitt Romney (R-UT) joined the Committee for a Responsible Federal Budget and panel of experts to...
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Q&A: Gross Debt Versus Debt Held by the Public
The Q&A has been updated here. On January 31, 2022, the federal government's gross debt exceeded $30 trillion for the first time. This mark serves as...
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Gas Tax Holiday Would Take A Wrong Turn
The White House and some in Congress are reportedly considering suspending the 18.3 cent federal gas tax for the remainder of 2022. The Committee for...
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FACT SHEET: Are Deficits in Decline?
Last month, the federal government ran a surplus of $119 billion, the first monthly surplus since September 2019. The Fiscal Year 2022 deficit is...
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Gas Tax Holiday Would Cost $20 Billion
This week, a group of senators introduced legislation to suspend the federal gas tax through December 2022 amid rising inflation. We estimate the...
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How Would Higher Interest Rates Affect Interest Payments?
Interest on the national debt is projected to be the fastest growing part of the federal budget. We estimate, based on the Congressional Budget Office...
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Senate Finance Subcommittee Holds Hearing on the Medicare Trust Fund
The Senate Finance Committee's Fiscal Responsibility and Economic Growth Subcommittee held a hearing on February 2, 2022, regarding the Medicare...
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Ten Options to Secure the Social Security Trust Fund
The Social Security trust funds are expected to be insolvent by 2033 according to the Congressional Budget Office (CBO) and by 2035 according to the...
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CBO Reports $259 Billion Deficit for First 4 Months of Fiscal Year
The United States borrowed $259 billion in the first four months of fiscal year 2022, with a $119 billion surplus in January, according to the latest...
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Third CR Emblematic of Broken Budget Process
The House of Representatives just passed a continuing resolution (CR) funding the government at last fiscal year’s funding levels for an additional...