Ideas. Action. Results.

Pete Domenici: The Senator of a Bygone Era

Economy / News January 3, 2018

Pete Domenici was the type of senator who makes Americans proud of their democratic government. He loved being a senator because it gave him a chance to craft legislation that improved people’s lives.

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Collision of Budget Deadlines and Tax Bill Could Have Grave Consequences

Economy / Press Release December 8, 2017

The next few weeks could have a major impact on America’s fiscal future, with a vote on tax reform coming soon.

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Reforming an Antiquated Tax Code

Ben Ritz / Blog November 3, 2016

Stabilizing the debt at its current share of the economy using only spending cuts would require at least an 8-percent reduction below current spending levels.

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CBO Director: Done Right, Sequester Relief Can Bolster Economy

Ben Ritz / Blog August 13, 2015

Both defense and non-defense discretionary spending are already projected to shrink to historically low levels and are not the primary drivers of deficits.

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A Bipartisan Approach to America’s Fiscal Future

The health of the U.S. economy will be damaged if we do not fundamentally alter the current trajectory of federal debt.

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Thanks to Chairman Thornberry for Speaking Sense about Sequester

Steve Bell / Blog January 15, 2015

Mac Thornberry (R-TX) raised some eyebrows with his recent statement that limiting defense spending to the Fiscal Year 2016 sequester caps increases national insecurity.

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Social Security Trustees Report: One Year Closer to Insolvency

Shai Akabas, Brian Collins / Blog July 28, 2014

This morning, the trustees of Social Security released their annual report, which includes an assessment of the program’s financial health. The Social Security actuaries estimate that under current law, the Old-Age and Survivor’s Insurance (OASI) Trust Fund will be depleted in 2034 (one year earlier than projected last year), while the Disability Insurance (DI) Trust Fund will be depleted in late 2016, unchanged from last year.

Social Security trustees report

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$709 billion: The Estimated Cost of Ten of the Largest Tax Expenditures in FY 2014

Shai Akabas, Brian Collins / Blog July 16, 2014

We recently blogged about the various types of federal tax expenditures, which in total, will cost about $1.4 trillion in Fiscal Year 2014. In this post, we highlight ten of the largest, each of which policymakers will likely need to consider in the context of comprehensive tax reform. 

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New CBO Report Reinforces Need for Bipartisan Action to Address Serious Long-Term Fiscal Challenges

Economy / Blog July 15, 2014

Earlier today, the non-partisan Congressional Budget Office released its 2014 Long-Term Budget Outlook, an annual report that projects government spending, tax revenue, deficits, and debt over the next 25 years. Like last year’s report, today’s report paints a sobering picture of our nation’s long-term fiscal health and reinforces the need for bipartisan action to reduce our long-term debt.

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Tax expenditures: How do they work?

Shai Akabas, Brian Collins / Blog July 9, 2014

Several recent comprehensive tax reform proposals, including plans put forward by House Ways and Means Chairman Dave Camp (R-MI) and the Bipartisan Policy Center’s Domenici–Rivlin Debt Reduction Task Force, have called for lower corporate and individual rates alongside limiting tax expenditures to broaden the tax base. But what exactly are tax expenditures?

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