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On Wednesday, May 25, 2011, senior Administration officials, policy experts and Democratic and Republican elected leaders will come together in Washington to discuss solutions to the nation’s fiscal challenges at the 2011 Fiscal Summit: Solutions for America’s Future, convened by the Peter G. Peterson Foundation.
After months of negotiations, with default looming, Congress passed and the President signed the Budget Control Act of 2011, which raises the debt ceiling and puts a process in place for reducing the deficit.
https://www.pgpf.org/analysis/peter-g-peterson-foundation-analysis-of-the-budget-control-act-of-2011
The Peterson-Pew Commission on Budget Reform's second report, Getting Back in the Black, offers a detailed set of options to reform the federal budget process.
https://www.pgpf.org/what-we-are-doing/grants/peterson-pew-commission-report
Corporate tax revenues are substantially lower than they were before the tax rate was reduced by the TCJA.
https://www.pgpf.org/chart-archive/0304_corporate_tax_reduced_tcja
The federal government collects revenue from a variety of sources.
"Like the House bill, the Senate proposal includes reforms that are neither permanent nor paid for, both of which impede the objective of growing the economy," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
https://www.pgpf.org/press-release/2017/11/peterson-foundation-statement-on-senate-tax-bill
A study commissioned by the Peter G. Peterson Foundation on S. 1796, America's Healthy Future Act of 2009 confirms the Congressional Budget Office analysis that the bill, as passed by the Senate Finance Committee, could result in slightly lower deficits if it is implemented as intended and remains unchanged.
https://www.pgpf.org/press-release/peter-g-peterson-foundation-releases-new-health-care-reform-study
Federal taxes and transfers can help reduce disparities in income.
https://www.pgpf.org/chart-archive/0233_taxes-reduce-disparities
According to the Joint Committee on Taxation, the provisions in this agreement will add $857.8 billion to the deficit by 2020.
https://www.pgpf.org/analysis/2010/12/compromise-tax-framework-agreement
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