The Tax Reform Tradeoff: Eliminating Tax Expenditures, Reducing Rates
The paper puts real numbers behind different scenarios for a structure for tax reform: eliminating income tax expenditures to enable lower tax rates.
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The paper puts real numbers behind different scenarios for a structure for tax reform: eliminating income tax expenditures to enable lower tax rates.
The report projects that in 2018 — for the first time since 1982 — the program’s total costs will exceed its total income.
A series of sudden, drastic changes to our nation's fiscal policies are slated to take place automatically at the end of this year — what many are calling the "Fiscal Cliff."
https://www.pgpf.org/analysis/the-fiscal-cliff-is-an-opportunity-for-long-term-action
Federal debt is already at its highest level as a percentage of GDP since 1950 and would exceed its all-time high by 2034 under current law.
https://www.pgpf.org/analysis/2018/07/cbo-warns-historic-debt-levels-threaten-economy
Reform that eliminates virtually all tax expenditures allows for rates to be lowered significantly.
The Peter G. Peterson Foundation focuses on budget trends over the coming decade under the competing House Republican and Senate Democrat proposals from March 2013.
https://www.pgpf.org/analysis/a-look-at-the-competing-house-and-senate-budget-proposals
Under current spending and tax policies, federal debt would be on a path that climbs to about 200 percent of gross domestic product within 25 years, according to CBO.
As Congress returns from its August recess, lawmakers face a to-do list filled with important fiscal deadlines.
Although the President's budget would make progress by reducing deficits and stabilizing the debt over the next ten years, federal debt would remain high by historical standards.
https://www.pgpf.org/analysis/summary-of-cbos-analysis-of-the-presidents-budget-for-fiscal-year-2014
Social Security’s finances are facing growing pressure due to the aging of the population.
https://www.pgpf.org/analysis/2017/07/trustees-warn-social-security-in-financial-trouble