Tax Policy Center

sequester

Federal Budget and Economy: TaxVox
There is a lot less than meets the eye to the budget deal agreed to last night by outgoing House Speaker John Boehner and the White House. The plan’s proposed new spending is real enough, but many of the spending reductions or new revenues in the plan are wishful thinking at best. Overall, the
October 27, 2015Howard Gleckman
Campaigns, Proposals, and Reforms: TaxVox
House and Senate budget negotiators have reached what can only be called a temporary fiscal truce—if they can convince their congressional colleagues to accept it. House Budget Committee Chair Paul Ryan (R-WI) and Senate Budget Committee Chair Patty Murray (D-WA) hammered out a lowest-common-
December 11, 2013Howard Gleckman
Federal Budget and Economy: TaxVox
Washington may be about to do what it does best--kick the can down the road. House Republicans have tentatively agreed on a plan to extend the debt limit for about six weeks while keeping the government partially shuttered. Their idea: use the shutdown as a stick to get Democrats to negotiate over
October 10, 2013Howard Gleckman
Federal Budget and Economy: TaxVox
Treasury Secretary Jack Lew has notified Congress that the U.S. government will reach the limits of its ability to borrow in mid-October. Lew’s letter sounds the opening notes of the overture to this fall’s fiscal grand opera. Between October 1 and the end of the calendar year, President Obama and
August 27, 2013Howard Gleckman
Federal Budget and Economy: TaxVox
States trying to decide whether to expand their Medicaid programs to cover more low-income uninsured might want to take a look at the fate of a more obscure federal program—cash subsidies to state and local governments that sell certain kinds of bonds, especially Build America Bonds. If they do,
March 7, 2013Howard Gleckman
Federal Budget and Economy: TaxVox
I suspect that by early next week, the sequester will be old news. We’ll be on to the next crisis—the impending government shutdown scheduled for just a month from now. And there may be good reason for that—any deal to avoid the shutdown will almost surely replace the effects of the sequester, at
March 1, 2013Howard Gleckman
Federal Budget and Economy: TaxVox
The latest chapter in Washington’s never-ending fiscal drama is about to play out in tomorrow’s sequester--a word most Americans should never have had to learn. For all the partisan noise about these automatic spending cuts, it is important to keep in mind that they are both relatively small and
February 28, 2013Howard Gleckman
Federal Budget and Economy: TaxVox
I would like to propose a simple plan that would let Republicans and Democrats avoid a blunt, across-the-board sequester that fails to set priorities. It would give both parties something they want without abandoning their core principles. And it would strengthen the party making the proposal by
February 27, 2013C. Eugene Steuerle
Federal Budget and Economy: TaxVox
In two weeks, about $1 trillion in automatic spending cuts will begin to kick in, a testament to the inability of policymakers to reach a grand fiscal bargain. Allowing these cuts to happen would be terrible policy. Here’s the background: In August 2011, Congress passed the Budget Control Act (BCA
February 15, 2013Benjamin H. Harris
Campaigns, Proposals, and Reforms: TaxVox
If their leaders’ public statements are to be believed, the fiscal chasm between the political parties is widening. And it is hard to see how it can be bridged. Congressional Democrats and Republicans have agreed to put off the next budget crisis for a month or so. This is a good thing, especially
January 24, 2013Howard Gleckman