Statement from Foundation President & COO Michael A. Peterson on This Week’s Release of House and Senate Budget Proposals
Statement from Foundation President & COO Michael A. Peterson on This Week’s Release of House and Senate Budget Proposals
The release of the Murray and Ryan budget proposals this week is a potential turning point in the debate about America’s fiscal and economic future.
“Our elected leaders should use this moment in time to begin a more serious discussion about a budget agreement. Despite the recent series of brinksmanship and fiscal deadlines, both sides continue to have the opportunity to agree on a comprehensive plan that achieves the goal of any sustainable fiscal policy by stabilizing the debt and putting it on a downward path for the long term.
“Any politically successful and sustainable plan will have to incorporate ideas from both parties. Our leaders should take this opportunity to strengthen our economy by bringing clarity and certainty to America’s long-term fiscal outlook.”
Further Reading
Budget Basics: What Is the Child Tax Credit?
The CTC provides assistance to families with children, and while it represents a relatively modest part of overall government spending, it is one of the largest tax expenditures.
Budget Basics: Tax Expenditures
Tax expenditures can come in the form of exclusions, exemptions, deductions, and credits.
What Are the Economic Costs of Child Poverty?
Child poverty is higher in the United States than in other wealthy countries. Studies show that it has quantifiable economic costs.