On March 15, 2018 the federal government passed an unfortunate milestone: $21 trillion dollars in gross federal debt.
The Tax Cuts and Jobs Act will lower revenues significantly and made changes to both tax rates and bracket widths.
There are separate limits on the amount of funding that can be provided for defense and nondefense purposes through the appropriation process.
Proposed work requirements would have important implications for the program, its beneficiaries, and the federal budget.
These charts illustrate some of the biggest fiscal policy stories from 2017.
Congress has a proven track record of extending tax provisions without paying for them.
Piling on more debt can harm our economy by crowding out private investment, reducing our fiscal flexibility, and lowering confidence and certainty.
Several independent organizations have analyzed the current tax reform proposals. They are unanimous in projecting that it would add to our national debt.
In her final press conference as chair of the Federal Reserve, Janet Yellen said that she was "personally concerned about the U.S. debt situation."
Independent analyses agree unanimously that either bill would add significantly to the growing national debt.
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