What is PAYGO? Q.What is PAYGO? A.A budget rule requiring that new legislation that affects revenues and spending on entitlement programs, taken as a whole, does not increase projected budget deficits. Read more about What is PAYGO?
What is the history of the federal budget process? Q.What is the history of the budget process? A.In 1972, President Richard Nixon impounded funds for various social programs. Nixon argued that because Congress lacked a process for controlling the federal budget, budget deficits might expand irresponsibly if the president lacked the power to block funding. Congress responded by establishing a formal budget process through the Congressional Budget and Impoundment Control Act of 1974. Read more about What is the history of the federal budget process?
How do US taxes compare internationally? Q.How do US taxes compare internationally? A.Total US tax revenue equaled 26 percent of gross domestic product, well below the 33 percent weighted average for developed countries. Read more about How do US taxes compare internationally?
