Tax Policy Center

Congressional Budget Office

Federal Budget and Economy: TaxVox
On Monday, the Government Accountability Office (GAO) defended the current method for budgeting for federal lending programs, known as “credit reform.” By endorsing the status quo, GAO puts itself at odds with the Congressional Budget Office (CBO), which has championed a “fair value” alternative.
March 1, 2016Donald Marron
: TaxVox
Bernie Sanders: Medicare, and tax increases, for all. The Democratic presidential hopeful proposed a $1.38 trillion universal health care plan and the tax hikes aimed to pay for it, just before Sunday’s Democratic debate. Sanders would impose a 2.2 percent income-based premium on all households,
January 19, 2016Renu Zaretsky
: 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
Federal Budget and Economy: TaxVox
This is what the Congressional Budget office really said about the budgetary and economic effects of repealing the Affordable Care Act: It has no idea. That, of course, it not what the political partisans are saying in the wake of CBO’s Friday release of a report on this exceedingly controversial
June 23, 2015Howard Gleckman
: TaxVox
Today on the Hill. The Senate Finance Committee examines tax complexity , compliance, and administration with an eye toward simplification in tax reform. Witnesses include Carol Markman of EP Caine & Associates, Mihir Desai of Harvard University, Bruce Bartlett, former deputy assistant
March 10, 2015Renu Zaretsky
Federal Budget and Economy: TaxVox
This is one of a series of guest TaxVox blog posts discussing dynamic scoring. The House recently changed the rules of budget scoring: The Congressional Budget Office and the Joint Committee on Taxation will now account for macroeconomic effects when estimating the budget impacts of major
February 27, 2015Donald Marron
Federal Budget and Economy: TaxVox
This is one of a series of guest TaxVox blog posts discussing dynamic scoring . It is obvious that changes in spending and tax policies affect macroeconomic variables, such as the Gross Domestic Product. The problem is in knowing how much. Different economic models yield very different answers and
February 20, 2015Rudolph G. Penner
Federal Budget and Economy: TaxVox
Treasury closed the financial books on fiscal 2014 last week. As my colleague Howard Gleckman noted , the top line figures all came in close to their 40-year averages. The $483 billion deficit was about 2.8 percent of gross domestic product, for example, slightly below the 3.2 percent average of
October 20, 2014Donald Marron
Federal Budget and Economy: TaxVox
Suppose your aunt decides to start a business making pizza ovens. She will design and build the ovens, and her daughter will manage operations. A bank is ready to lend her $100,000 to get started, but it wants someone to co-sign and be on the hook if she misses any payments. She offers to pay you $
September 11, 2014Donald Marron
Individual Taxes: TaxVox
It isn’t news that congressional Democrats and Republicans have agreed to spend the time between now and the November elections messaging, rather than legislating. When it comes to domestic policy it has only two real issues on its must-do list: Deciding the fate of 50+ tax breaks that expired last
April 14, 2014Howard Gleckman