Tax Policy Center

Debt

Federal Budget and Economy: TaxVox
Donald Trump has put forth some really novel (and poor) ideas – his immigration and trade policies come to mind. His tax reform ideas are...
August 10, 2016William G. GaleHilary GelfondAaron Krupkin
Individual Taxes: TaxVox
The Cato Institute has organized an online forum to debate pro-growth economic policy reforms. Tax Policy Center scholars Bill Gale, Donald Marron, and Eric Toder have each contributed to the discussion. As policy makers search for ways to raise economic growth and improve the living standards of
November 20, 2014William G. Gale
Individual Taxes: TaxVox
Politicians can debate whether corporate tax inversions are “unpatriotic” or simply a legitimate technique to reduce taxes--and commentators can argue over whether anything should be done to stop them. Experts also disagree about whether President Obama and his Treasury Secretary have the legal
August 15, 2014Steven M. Rosenthal
Federal Budget and Economy: TaxVox
In the aftermath of the recent government shutdown and the painful negotiations that brought the country perilously close to defaulting on government debt, policy experts are searching for a way to avoid a replay of this crisis. After all, the recent congressional agreement only delays the next
October 23, 2013William G. Gale
Federal Budget and Economy: TaxVox
You’ve probably heard that Treasury will hit the debt limit on October 17 and soon thereafter it won’t be able to pay all of America’s bills. That second part is true: Congress needs to act soon—preferably before the 17 th —so Treasury doesn’t miss any payments. But the first part isn’t: Treasury
October 11, 2013Donald Marron
Federal Budget and Economy: TaxVox
Since the day of Alexander Hamilton, the United States has never defaulted on the federal debt. That’s what we budget-watchers always say. It’s a great talking point. One that helps bolster the argument that default should not be an option in Washington’s latest debt limit showdown. There’s just
October 4, 2013Donald Marron
Individual Taxes: TaxVox
Today I had the chance to testify before the Joint Economic Committee about a perennial challenge, the looming debt limit. Here are my opening remarks. You can find my full testimony here . I’d like to make six points about the debt limit today. First, Congress must increase the debt limit. Failure
September 18, 2013Donald Marron
Individual Taxes: TaxVox
Is the Federal Reserve part of the government? You might think so, but you wouldn’t know it from the way we talk about America’s debt. When it comes to the debt held by the public, for example, the Fed is just a member of the public. That accounting reflects the Fed’s unusual independence from the
July 15, 2013Donald Marron
Individual Taxes: TaxVox
When policy folks talk about America’s federal borrowing, their go-to measures are the public debt, currently $12 trillion, and its ratio to gross domestic product, which is approaching 75 percent. Those figures represent the debt that Treasury has sold into public capital markets, pays interest on
June 24, 2013Donald Marron
Federal Budget and Economy: TaxVox
The federal government has been borrowing rapidly to finance recent budget deficits. But that’s not the only reason it’s gone deeper into debt. Uncle Sam also borrows to issue loans, build up cash, and make other financial investments. Those financial activities have accounted for an important part
June 17, 2013Donald Marron