Analysis: Congress Passes Costly & Unfunded Tax Legislation
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
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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
The report anticipates that in 2020 — for the first time since 1982 — the program’s total costs will exceed its total income.
While the recession has technically ended, our economy is still suffering and far from completely recovered.
While there is disagreement on specific remedies, there is broad consensus that our current tax code is broken.
https://www.pgpf.org/analysis/2013-fall-fiscal-agenda-%E2%80%94-tax-reform
Under the current policy scenario, the federal government is projected to run permanent primary spending deficits.
https://www.pgpf.org/analysis/government-accountability-office-fall-2012-budget-outlook
Last year, the U.S. deficit of $1.4 trillion or 9.9 percent of gross domestic product, was the largest since the end of World War II.
https://www.pgpf.org/analysis/2009/04/the-us-faces-looming-fiscal-crisis
The president's budget misses an opportunity to address the structural causes of our debt and relies instead on overly optimistic economic assumptions.
By making gradual changes to federal spending and revenue, lawmakers can not only stabilize our fiscal outlook, but also provide long-run economic benefits.
The paper puts real numbers behind different scenarios for a structure for tax reform: eliminating income tax expenditures to enable lower tax rates.
Lawmakers should use the opportunities presented by the annual budgetary process to set policy priorities and provide more certainty about our nation’s fiscal policy.