The total cost of the Tax Cuts and Job Act is estimated to be $1.7 trillion between 2018 and 2027.
The bill as written would move up the date we return to trillion dollar deficits by two years, to 2020.
Lawmakers should pursue policies that don’t make our fiscal outlook even worse.
The federal budget deficit rose to $666 billion for fiscal year 2017 — an increase of around $80 billion from the previous year.
Lawmakers unveiled a tax overhaul framework recently, outlining a number of changes to individual and corporate taxes.
Lawmakers have unveiled a tax overhaul framework, outlining a number of changes to individual and corporate taxes.
A government shutdown is costly, but failing to raise the debt limit could have more severe and lasting consequences.
There's ongoing discussion in Washington about making changes to Medicaid. Learn more about the program.
Social Security and Medicare affect nearly every American at some point in their lives.
"Congress should be taking into account when designing fiscal policy is the need to achieve sustainability of this debt path over time,” Yellen said.
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