FISCAL BLOG

The Treasury projects that debt as a percentage of GDP will grow to more than five times the size of the U.S. economy in the next 75 years.

The United States lost an estimated $1.8 trillion in revenues through tax expenditures in 2023.

In 2017, Congress and the President enacted the Tax Cuts and Jobs Act (TCJA), which made significant changes to the tax code for individuals and corporations.

A group of respected policy experts share their views on how a bipartisan fiscal commission could help break the cycle of governing by crisis.

The words debt and deficit come up frequently in debates about the policy decisions that lawmakers face. The two concepts are similar, but are often confused.

Federal Reserve Chair Jerome Powell, speaking in an interview, said that now is the time to start addressing our $34 trillion and rising national debt.

Significant majorities of voters across party lines agree that a commission would strengthen Social Security, lower borrowing costs, and improve our economic outlook.

Federal programs that invest in children are not only critical to the health and well-being of the youngest Americans, but they can also provide long-term benefits to the nation’s economy.

The Tax Relief for American Families and Workers Act is estimated to cost about $400 million over 10 years.

The deduction of state and local tax payments (known as SALT) from federal income taxes has been a subject of debate among economists and policymakers over the past few years — with significant implications for our budget and fiscal outlook.