While the Tax Cuts and Jobs Act of 2017 will likely boost economic growth in the near term, the effects of the legislation are temporary.
Economists generally agree that public investment in infrastructure has a positive effect on productivity, and therefore on gross domestic product.
CBO reports that the fiscal outlook is dramatically worse than it was last year, primarily due to the fiscally irresponsible tax legislation and budget deal.
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.
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