Committee for a Responsible Federal Budget1 天
Deficit Totaled $2.0 Trillion in Calendar Year 2024
The federal budget deficit totaled $2.0 trillion for calendar year 2024, an increase of roughly $200 billion from the ...
Committee for a Responsible Federal Budget1 天
CBO Estimates $710 Billion Deficit for First Three Months of Fiscal Year 2025
The United States borrowed $710 billion in the first three months of Fiscal Year (FY) 2025, including $85 billion in the month of December, according to the latest ...
Committee for a Responsible Federal Budget2 天
Weakening the SALT Cap Would be a Costly Mistake
Rather than weakening the SALT cap, lawmakers should strengthen it. Concern over the marriage penalty could be addressed by reducing the SALT cap to $5,000 for single filers or setting a new ...
Committee for a Responsible Federal Budget2 天
Putting Numbers to TCJA Dynamic Feedback Estimates
As we have pointed out before, extending the various individual and estate tax provisions of the Tax Cuts and Jobs Act (TCJA) beyond their scheduled expiration at the end of 2025 is unlikely to boost ...
Committee for a Responsible Federal Budget3 天
Budget Resolution Should Provide a Plan for Realistic Debt Reduction
Lawmakers intend to pursue budget reconciliation legislation in the coming months, which requires passage of a concurrent budget resolution that includes reconciliation instructions in order to ...
Committee for a Responsible Federal Budget3 天
Maya MacGuineas on Bloomberg TV's "Balance of Power"
Committee president Maya MacGuineas recently appeared on Bloomberg's "Balance of Power" to discuss President-elect Trump's comments on the debt ceiling, the House and Speaker's plan for a reconcili ...
Committee for a Responsible Federal Budget3 天
CBO’s “Other Mandatory” Savings Options
The Congressional Budget Office (CBO) recently released its Options for Reducing the Deficit, outlining 76 policy opt ...
Committee for a Responsible Federal Budget1 个月
FY 2025 Reconciliation Resources
The 119th Congress is expected to use the reconciliation process to pass legislation with a significant fiscal impact, such as extending the expiring portions of the 2017 Tax Cuts and Jobs Act (TCJA).
Committee for a Responsible Federal Budget5 年
Chained CPI Resource Page
Currently, the federal government generally relies on the Consumer Price Index (CPI) to index provisions of the budget and tax code to account for cost-of-living changes. However, this measure ...
Committee for a Responsible Federal Budget3 个月
Board Members
The Committee’s Board comprises some of the nation's leading budget experts, including many past heads of the House and Senate Budget Committees, the Congressional Budget Office, the Office of ...
Committee for a Responsible Federal Budget5 年
Erskine Bowles
Erskine Bowles served as the director of the Small Business Administration, deputy chief of staff (1994-95) and chief of staff (1996-98) under the Clinton Administration. He served as president of the ...
Committee for a Responsible Federal Budget17 天
Build Your Own Child Tax Credit
Under current law through 2025, $1,700 of the $2,000 child tax credit can be "refundable," meaning it can be issued as a refund to those with no tax liability. The credit phases in by 15 percent of ...