Costs of Delaying Fiscal Reform
Waiting to act raises the cost of stabilizing the debt.
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Waiting to act raises the cost of stabilizing the debt.
The federal debt is on an unsustainable path
The PGPF chart pack illustrates that budget-making involves many competing priorities, limited resources, and complex issues.
Spending for mandatory programs and net interest is projected to putpace all other non-interest spending.
https://www.pgpf.org/chart-archive/0174_SS_major_health_climb
Spending on the major healthcare programs, Social Security, and interest will continue to climb rapidly over the long term.
https://www.pgpf.org/chart-archive/0281_spending_to_climb_rapidly
The top 20 percent of income earners receive over half the value of major tax expenditures.
https://www.pgpf.org/Chart-Archive/0199_distribution_tax_expenditures
As a share of GDP, the U.S. corporate income tax revenue is the lowest among G7 countries.
Following the 2017 tax reform, the federal statutory corporate tax rate in the United States is now more in line with many other OECD countries.
https://www.pgpf.org/chart-archive/0273_statutory_corporate_income_tax_rates