BPC’s work illustrates current federal fiscal policy’s unsustainability, demonstrates the consequences of inaction, and creates a path toward a comprehensive fiscal plan that would stabilize the nation’s debt trajectory.
Every year, Congress must appropriate money to fund particular governmental programs and agencies. The 2011 Budget Control Act initiated sequestration—across-the-board cuts to annually appropriated defense and non-defense spending. BPC is a leading voice for a more intentional way of budgeting for the country’s needs.
Even after Congress and the president have decided how much the United States will spend each year, there is a separate limit on how much the country can borrow to pay the bills it has already incurred. BPC issues timely analysis of new developments related to the debt limit.
National defense is one of the government’s most essential duties, and maintaining a top-notch fighting force must be a high priority. BPC’s analysis on U.S. military spending informs the national discussion.
BPC staff work to stay on top of new developments relating to the federal budget and provide educational briefings and materials for better understanding the process for budget resolutions and reconciliation legislation.
BPC’s 20-member commission will make recommendations to strengthen and improve the U.S. retirement system, including Social Security, pensions, defined contribution savings vehicles such as 401(k)s, other personal savings, and strategies to generate lifetime income.
Governments tax the economic activity of their citizens to provide the services those citizens demand. But all taxation is not created equal, and the U.S. tax system is inefficient and overly complicated. BPC evaluates the U.S. tax system and highlights ways to make the system work better for the lives of Americans and the revenue needs of the federal government.