Tax Policy Center

CBO

Federal Budget and Economy: TaxVox

How Much Has the Pandemic Affected President-elect Biden’s Opportunity to Chart a New Course?

Largely as a consequence of the pandemic, trillions of dollars have been flowing out of the Treasury’s coffers. The Congressional Budget Office (CBO) projects the...
January 19, 2021C. Eugene SteuerleErald Kolasi
: TaxVox

How Much More Money Could The IRS Collect If Congress Gave Them More Money?

Would increasing the Internal Revenue Service’s funding for audits increase tax collections by more than the cost? Yes, if the funds are spent wisely.
September 28, 2020Janet Holtzblatt
Federal Budget and Economy: TaxVox

Trump’s 10 Year Revenue Estimates Would Fall By At Least $3 Trillion With Realistic Economic Assumptions

The Trump Administration would miss its revenue targets by at least $3 trillion under more realistic economic assumptions...
February 12, 2020Howard Gleckman
Federal Budget and Economy: TaxVox

Revisions To Revenue Projections Suggest That The TCJA Cost More Than Expected

Last week the Congressional Budget Office (CBO) released a letter that reviewed how its revenue forecasts have declined over the past two years. While we...
November 5, 2019Benjamin R. Page
Federal Budget and Economy: TaxVox

CBO Predicts Historic Levels of Debt By Mid-Century

CBO Predicts Historic Levels of Debt By Mid-Century If the US continues today’s patterns of taxes and spending, the national debt will almost triple as...
June 25, 2019Howard Gleckman
: TaxVox

Alice Rivlin: The George Washington Of The Congressional Budget Office

On June 21, the family and friends of Alice Rivlin will join with much of Washington’s public policy community to celebrate her life and extraordinary...
June 20, 2019C. Eugene Steuerle
: TaxVox

The Blessed Alice

Alice Rivlin made the world a better place in so many ways. She will forgive me for ignoring most of them in this brief essay...
May 15, 2019Leonard E. Burman
: TaxVox

Did the Tax Cuts and Jobs Act Pay for Itself in 2018?

Were you surprised that the 2017 tax overhaul, commonly referred as the Tax Cuts and Jobs Act (TCJA), did not increase revenues in 2018? Probably...
March 13, 2019William G. GaleAaron Krupkin
Federal Budget and Economy: TaxVox

The Federal Deficit Is Headed For $1 Trillion. Should We Care?

In its annual budget update, the Congressional Budget Office projected yesterday that under current law the federal deficit is headed for $1 trillion by 2022...
January 29, 2019Howard Gleckman
Federal Budget and Economy: TaxVox

Congress and President Trump Are Spending Money and Cutting Taxes Like There Is No Tomorrow

What is the difference between Chicago mayoral candidate Willie Wilson, and President Trump and Congress? Wilson, you may recall, spent last Sunday handing out an estimated...
July 26, 2018Howard Gleckman