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The Debt Ceiling Will Be Reinstated on January 1 — Here’s What’s at Stake
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Latest Articles
The U.S. Deficit Should Only Be This High During Crises
One of the reasons to restrain debt and maintain a sustainable fiscal outlook is that emergencies arise that may necessitate federal support.
What Is the Disaster Relief Fund?
Climate and weather-related natural disasters are becoming increasingly frequent. In addition to endangering lives, they are economically costly.
What Is Budget Reconciliation?
With narrow majorities in both Houses of Congress, Republicans are expected to make use of the budget reconciliation process to advance key pieces of their agenda.
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Eight of the Largest Tax Breaks Explained
Tax breaks totaled over $1.8 trillion in 2023. That’s more than the government spends on Social Security, defense, or Medicare and Medicaid.
How Have Tax Cuts Affected the Economy and Debt? Here’s What We Know So Far
The general consensus among economists is that the long-term effects of the TCJA will be higher debt and little change to underlying economic growth.
How Does the Capital Gains Tax Work Now, and What Are Some Proposed Reforms?
While the capital gains tax affects anyone selling a capital asset, higher-income individuals are typically subject to the tax more so than average Americans.
How Does the Tax System Work?
While nearly all Americans pay taxes, the composition of the type of taxes paid is very different for taxpayers at various points in the income distribution.
Taxing the Rich Could Raise Trillions — But That Alone Won’t Fix Our Fiscal Crisis
A new paper from Manhattan Institute’s Brian Riedl examines ways to raise revenue from high-income Americans.
Last Year’s Tax Law Did Not Simplify the System — It Added More Tax Breaks
Last year’s tax legislation was a key opportunity to simplify the tax code, but the TCJA actually increased the number of tax breaks.
What Is the Carried Interest Loophole, and Why Is It So Difficult to Close?
The treatment of carried interest continues to be one of the most controversial elements of the U.S. tax code.