GAO: The Federal Government’s Long-Term Fiscal Outlook Fall 2010 Update
Under the GAO’s most realistic fiscal scenario, debt held by the public will exceed 109 percent of GDP by 2020.
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Under the GAO’s most realistic fiscal scenario, debt held by the public will exceed 109 percent of GDP by 2020.
To help better inform the current debate over tax reform, the Tax Policy Center (with a grant from the Peterson Foundation) put real numbers behind different scenarios for tax reform that are both distributionally neutral and fiscally responsible.
The budgetary and economic effects of proposed tax legislation are a critical element of the debate.
https://www.pgpf.org/analysis/2017/12/tax-modeling-tax-reform-why-its-important
Washington is debating tax reform. There’s talk of substantial tax cuts that would give trillions of dollars back to American taxpayers. That might sound great to some. But if Congress doesn’t find a way to pay for those tax cuts, future generations will be stuck with the bill.
Tax expenditures cost the government about $1.5 trillion each year, more than the budget of any agency or major spending program.
The legislation is fiscally irresponsible and will add significantly to America's national debt.
https://www.pgpf.org/analysis/congress-passes-costly-and-unfunded-tax-legislation
Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation, commented today after the White House released the outline of President Trump’s tax plan.
https://www.pgpf.org/press-release/2017/04/statement-on-administrations-tax-plan
Tax reform done right will promote economic growth, increase fairness and simplicity, and improve the nation’s fiscal outlook.
Some lawmakers favor substantial increases to marginal tax rates. Let’s look at how marginal tax rates and brackets work.
The Tax Relief for American Families and Workers Act is estimated to cost about $400 million over 10 years.