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.
Read MoreTrustees Warn: Social Security’s Total Costs to Exceed Income for First Time Since 1982
The financial outlook for OASI has deteriorated, as the trust fund will be depleted one year sooner than projected last year.
Read MoreTrustees: Funding Challenges Threaten Medicare’s Future
The Medicare Hospital Insurance Trust Fund will be depleted in 2026, which is three years sooner than was projected in last year’s Trustees report.
Read MoreCBO: President’s Budget Fails to Put Nation on Fiscally Sustainable Path
Debt would remain on an upward trajectory and the underlying imbalance caused by growth in spending coupled with inadequate revenues would still remain.
Read MoreHow Tax Cuts Are Affecting Revenues and Rates
The Tax Cuts and Jobs Act will lower revenues significantly and change both tax rates and bracket widths.
Read MoreBudget Process Reform: What Are Budget Caps?
Here’s some background on the origin of caps on appropriations, also known as “discretionary caps,” and the recent history of those caps.
Read MoreAnalysis: The President’s FY 2019 Budget Fails to Put Us on Responsible Fiscal Path
The President’s budget reflects a dramatically worse fiscal outlook than last year’s version released just nine months ago.
Read MoreFederal Budget Deficits Rising — Even Before Tax Cuts
The federal budget deficit rose to $666 billion for fiscal year 2017 — an increase of around $80 billion from the previous year.
Read MoreFive Charts to Help You Better Understand Individual Tax Reform
Lawmakers unveiled a tax overhaul framework recently, outlining a number of changes to individual and corporate taxes.
Read MoreFive Charts to Help You Better Understand Corporate Tax Reform
Lawmakers have unveiled a tax overhaul framework, outlining a number of changes to individual and corporate taxes.
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