What Are Tax Expenditures?
Tax expenditures cost the government about $1.5 trillion each year, more than the budget of any agency or major spending program.
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Tax expenditures cost the government about $1.5 trillion each year, more than the budget of any agency or major spending program.
The Tax Relief for American Families and Workers Act is estimated to cost about $400 million over 10 years.
Interest costs on the national debt are expected to rapidly outstrip spending on children in coming years.
https://www.pgpf.org/blog/2023/12/how-much-government-spending-goes-to-children
There have been a number of proposals to increase, eliminate, or otherwise adjust the payroll tax cap as a way to shore up Social Security’s finances.
Here we analyze the extent to which more funding impacts tax compliance, the tax gap, and federal revenues.
https://www.pgpf.org/blog/2023/12/would-increased-funding-for-the-irs-narrow-the-tax-gap
A group of respected policy experts share their views on how a bipartisan fiscal commission could help break the cycle of governing by crisis.
The Treasury projects that debt as a percentage of GDP will grow to more than five times the size of the U.S. economy in the next 75 years.
https://www.pgpf.org/blog/2024/03/delaying-fiscal-reform-is-costly-annual-treasury-report-warns
Let's take a closer look at a few key characteristics of Treasury borrowing that can affect its budgetary cost.
https://www.pgpf.org/blog/2023/08/how-does-the-treasury-issue-debt
A new paper from Manhattan Institute’s Brian Riedl examines ways to raise revenue from high-income Americans.
Cracking down on the tax gap would not only introduce more fairness into the system, but it could be a big help for our nation’s fiscal imbalance.