Tax Policy Center

Congressional Budget Office

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
Federal Budget and Economy: TaxVox
I was chatting the other day with a fellow budget wonk who noted the cruel paradox of fiscal politics: When the economy is bad, deficits...
February 4, 2014Howard Gleckman
Individual Taxes: TaxVox
Effective tax rates have been rising since 2009 and will continue to rise for a few more years before they flatten out, according to Tax...
December 12, 2013Roberton C. Williams
Federal Budget and Economy: TaxVox
For those of you keeping score, the Congressional Budget Office now figures the next showdown over the nation’s debt limit will occur in March, or...
November 21, 2013Howard Gleckman
Individual Taxes: TaxVox
At 8:30 this morning, Uncle Sam suddenly shrunk. Federal spending fell from 21.5 percent of gross domestic product to 20.8 percent, while taxes declined from...
July 31, 2013Donald Marron
Federal Budget and Economy: TaxVox
Do you think Congress really cares about the budget deficit anymore? Or that the age-old practice of buying lawmakers votes with local projects is really...
June 25, 2013Howard Gleckman