The Lame-Duck Congress and the 116th Congress Have Some Key Fiscal Issues on their Agenda
There are a number of key fiscal issues not only facing the current Congress in coming weeks, but also awaiting the new Congress.
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There are a number of key fiscal issues not only facing the current Congress in coming weeks, but also awaiting the new Congress.
These charts tell the fiscal story of 2022 — looking back at how our fiscal situation deteriorated over the past year and what challenges lie ahead.
In around six years, the national debt will likely exceed its all-time high of 106 percent of gross domestic product (GDP), which occurred in 1946.
Our fiscal situation was already unsustainable, but COVID-19 certainly did not help. Learn how the pandemic compounded our financial challenges in 13 charts.
https://www.pgpf.org/blog/2020/12/13-charts-that-tell-the-fiscal-story-of-2020
Significant majorities of voters across party lines agree that a commission would strengthen Social Security, lower borrowing costs, and improve our economic outlook.
The country’s fiscal trajectory got notably worse over the past year.
In 2017, Congress and the President enacted the Tax Cuts and Jobs Act (TCJA), which made significant changes to the tax code for individuals and corporations.
https://www.pgpf.org/blog/2024/03/the-next-fiscal-cliff-big-tax-decisions-to-make-in-2025
A fiscal commission would provide the space and structure for lawmakers to comprehensively review the entire budget and improve the fiscal path of the U.S.
https://www.pgpf.org/blog/2024/01/growing-momentum-for-a-fiscal-commission-in-congress
With a divided government, an opportunity exists for lawmakers to seek and find common ground on the nation’s pressing fiscal and economic challenges.
CBO’s report is the latest warning sign about the dire fiscal outlook.