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.
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.
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