Tax Policy Center

Debt Limit

Federal Budget and Economy: TaxVox
House Speaker Kevin McCarthy (R-CA) and President Biden recently agreed to cut back on some of the increased IRS funding enacted through last year’s Inflation...
June 27, 2023C. Eugene Steuerle
Federal Budget and Economy: TaxVox
The recent compromise between Republicans and Democrats on extending the federal debt limit was hailed for avoiding the disaster of a default, demonstrating that both...
June 26, 2023C. Eugene SteuerleNikhita Airi
Federal Budget and Economy: TaxVox
Now that Congress has passed the Fiscal Responsibility Act (FRA) of 2023 , it isn’t too soon to start thinking about the mess lawmakers have...
June 7, 2023Howard Gleckman
Federal Budget and Economy: TaxVox
House Speaker Kevin McCarthy (R-CA) and President Joe Biden reached an agreement over the weekend to limit spending for a small fraction of the federal...
May 31, 2023Howard Gleckman
Federal Budget and Economy: TaxVox
Republican leaders in Congress have refused to raise the federal debt limit unless the Biden Administration agrees to major spending reductions to reduce the national...
May 11, 2023Leonard E. Burman
Federal Budget and Economy: TaxVox
If the country avoids breaching the debt limit in the next few months , you may not have Wall Street volatility to thank. Or even...
May 9, 2023Howard Gleckman
Federal Budget and Economy: TaxVox
House Republicans on April 26 passed legislation on a party-line vote a bill that would rescind many Inflation Reduction Act (IRA) clean energy tax incentives in exchange...
May 3, 2023John Buhl
Federal Budget and Economy: TaxVox
House Republicans have, at least temporarily, redefined what they mean by a tax increase. By doing so, they have turned their backs on their decades-old...
May 2, 2023Howard Gleckman
Federal Budget and Economy: TaxVox
You can see where this is going. As the US gets ever closer to hitting its borrowing limit sometime this summer, Congress is stumbling towards...
April 27, 2023Howard Gleckman
Federal Budget and Economy: TaxVox
House Republicans say they want to balance the federal budget in 10 years by cutting spending only, and seem to have received a promise from...
January 17, 2023Howard Gleckman