How do US taxes compare internationally? Q.How do US taxes compare internationally? A.Total US tax revenue equaled 24 percent of gross domestic product, well below the 34 percent weighted average for other OECD countries.Total US tax revenue equaled 24 percent of gross domestic product, well below the 34 percent weighted average for other OECD countries. Read more about How do US taxes compare internationally?
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 is a budget resolution enforced? Q.How is a budget resolution enforced? A.Spending and revenue targets set in the annual budget resolution are enforced by points of order, which any member of Congress may raise against legislation inconsistent with those targets. Read more about How is a budget resolution enforced?
