Tax Policy Center

budget

Federal Budget and Economy: TaxVox
If the White House wanted to attract attention to its final budget , it could not have picked a worse day to make it public. With official Washington obsessed with today’s New Hampshire primary, the 2017 budget barely caused a ripple. In case there was any question about its fate on Capitol Hill,
February 8, 2016Howard Gleckman
Federal Budget and Economy: TaxVox
In the budget he plans to release tomorrow, President Obama will propose some modest changes to the Affordable Care Act’s much-reviled Cadillac Tax on high-cost employer sponsored health plans. In advance of the proposal, Jason Furman, Chair of the president’s Council of Economic Advisers,
February 7, 2016Leonard E. Burman
Federal Budget and Economy: TaxVox
While Republican presidential hopefuls were debating in Las Vegas, congressional leaders announced they had agreed to restore and extend dozens of special interest tax cuts—many permanently. And those GOP candidates for the White House? They’ve promised to repeal nearly all of the tax breaks
December 16, 2015Howard Gleckman
Federal Budget and Economy: TaxVox
In less than a month—and in perhaps as little as 18 days-- the federal government will be unable to pay its bills. Realistically, there is only one way to avoid such a fiscal mess: Congress must raise the federal debt limit so Treasury can borrow more money. But how will that happen? On one hand,
October 15, 2015Howard Gleckman
: TaxVox
The CBO, the ACA, and the economy: Precision doesn’t mean accuracy. Last Friday, the Congressional Budget Office projected that repeal of the Affordable Care Act would add $137 billion to the national debt over 10 years but boost the economy. But the estimates came with a big warning: “[R]epealing
June 24, 2015Renu Zaretsky
Individual Taxes: TaxVox
This is one of a series of TaxVox guest blogs discussing dynamic scoring . Whether dynamic scoring for official revenue estimates is a good or bad idea, it is now a part of scoring rules in the House. As a result, it is more compelling than ever to understand the forces that determine economic
March 17, 2015Jane Gravelle
: TaxVox
Out today: A first look at GOP budgets. The US hit its debt limit yesterday (at least technically), and the budget battles have begun. The Senate GOP budget resolution reportedly won’t include detailed plans to overhaul entitlement programs—though the House GOP plan may. The Senate Budget panel
March 17, 2015Renu Zaretsky
: TaxVox
Have taxes, will travel. The American Road & Transportation Builders Association wants Congress to raise the federal gas tax by 15 cents a gallon to generate $401 billion in new transportation funding. Money for the Highway Trust Fund dries up in May. The group suggests the tax be offset with a
March 13, 2015Renu Zaretsky
Federal Budget and Economy: TaxVox
This is one of a series of TaxVox guest blogs discussing dynamic scoring. Macroeconomic scoring, aka dynamic scoring, has been debated for years. For the 114 th Congress, the House has adopted a rule to institute the procedure for major bills. But what would dynamic scoring really mean in practice
March 11, 2015G. William Hoagland
Federal Budget and Economy: TaxVox
This is one of a series of TaxVox guest blogs discussing dynamic scoring . One of the strengths of the US budgeting system is that proposals are held accountable through a relatively open process of scoring the costs and benefits. This process, as run by the Congressional Budget Office and others,
March 6, 2015Simon Johnson