Latest
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Maya MacGuineas: Mind the (tax) gap: To fund new spending, people should pay the taxes they owe
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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Reconciliation Unlikely to Produce $600 Billion in Dynamic Revenue
Policymakers are claiming their $3.5 trillion reconciliation package will be fully paid for by counting on $600 billion of dynamic feedback on top of...
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Five Ways to Improve the FY 2022 Reconciliation Package
Congress is attempting to enact a large and ambitious agenda of new programs through the reconciliation process. While President Biden has made the...
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Prevent Government Shutdowns Act of 2021 Introduced in the Senate
Recently, Senators James Lankford (R-OK) and Maggie Hassan (D-NH) introduced the Prevent Government Shutdowns Act of 2021 (PGSA). The bill would...
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SALT Cap Repeal Does Not Belong in Reconciliation
For Immediate Release Though the recent draft tax legislation proposed by the Ways and Means Committee is silent on the issue of the $10,000 state and...
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Better Targeting in Reconciliation
As lawmakers negotiate the details of their reconciliation package, they will need to scale back some of their ambitions to prevent arbitrary policy...
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Ways and Means Proposes $1.3 Trillion of Tax Breaks, $2.3 Trillion of Tax Hikes
UPDATE (9/13/2021): The Joint Committee on Taxation has released a full score of the revenue proposals, including the revenue-raising items. The table...
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SALT Cap Repeal Would Be a Costly Mistake
Recent reports indicate Congress may repeal the $10,000 cap on the State and Local Tax (SALT) deduction in its $3.5 trillion reconciliation bill, with...
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CBO Reports $173 Billion Deficit for August
The United States borrowed over $2.7 trillion in the first 11 months of fiscal year 2021, including $173 billion in August, according to the latest ...
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Closing the Stepped-Up Basis Loophole
Reconciliation should not add a penny to the national debt. As lawmakers work to craft a package with $3.5 trillion of new spending and tax breaks...
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Responsibly Raising the Debt Limit
Yesterday, Treasury Secretary Janet Yellen warned Congress that the Treasury is likely to run out of extraordinary measures in October. Without action...
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Keeping Offsets on the Table
As lawmakers work to put together a reconciliation package that could include up to $3.5 trillion of gross spending and tax breaks, resistance has...