Analysts Agree: House and Senate Tax Bills Would Add Substantially to the Debt
Several independent organizations have analyzed the current tax reform proposals. They are unanimous in projecting that it would add to our national debt.
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Several independent organizations have analyzed the current tax reform proposals. They are unanimous in projecting that it would add to our national debt.
Lawmakers unveiled a tax overhaul framework recently, outlining a number of changes to individual and corporate taxes.
https://www.pgpf.org/blog/2017/10/five-charts-to-help-you-better-understand-individual-tax-reform
The total cost of the Tax Cuts and Job Act is estimated to be $1.7 trillion between 2018 and 2027.
https://www.pgpf.org/blog/2017/11/what-the-interest-on-deficit-funded-tax-legislation-would-cost
The U.S. collects less revenue as a share of GDP than several other high-income countries such as Japan, Canada, the United Kingdom, and Germany.
https://www.pgpf.org/blog/2016/04/the-us-tax-burden-is-low-compared-to-most-advanced-economies
A key part of the Biden administration’s policy agenda in 2021 relates to our nation’s energy policy, and in particular, there have been important debates among policymakers about how we use the tax code to incentivize economically and environmentally beneficial behavior.
CBO now expects that 3-month interest rates will peak at around 5.3 percent this year and only fall to 3.2 percent by the end of 2025.
While the capital gains tax affects anyone selling a capital asset, higher-income individuals are typically subject to the tax more so than average Americans.
The decline in purchasing power has important implications for the federal budget and our nation's infrastructure.
Interest rates on U.S. Treasury securities have a significant influence on federal borrowing costs.
https://www.pgpf.org/blog/2023/07/higher-interest-rates-could-cause-the-national-debt-to-skyrocket
As more time passes since enactment, and as more data become available, economists continue to weigh in with analyses of the TCJA’s effects.