Tax Reform
Tax reform done right would promote economic growth, make our fiscal outlook more sustainable, reduce the complexity and burden of compliance, and increase the system’s transparency and fairness.
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Tax reform done right would promote economic growth, make our fiscal outlook more sustainable, reduce the complexity and burden of compliance, and increase the system’s transparency and fairness.
The current budget process is ill-suited for managing the nation’s long-term fiscal affairs. Learn about possible reforms to reimagine the budget process.
https://www.pgpf.org/finding-solutions/budget-process-reforms
Tax reform done right will promote economic growth, increase fairness and simplicity, and improve the nation’s fiscal outlook.
Tax breaks totaled over $1.8 trillion in 2023. To put that in perspective, that’s more than the government spends on Social Security, defense, or Medicare and Medicaid.
https://www.pgpf.org/blog/2023/12/eight-of-the-largest-tax-breaks-explained
"Tax Cuts 2.0 is a fitting name, because this bill would add more than $2.0 trillion to our national debt over 10 years once it kicks in," Michael A. Peterson, Chairman and CEO of the Peter G. Peterson Foundation, said.
The Tax Cuts and Jobs Act will lower revenues significantly and made changes to both tax rates and bracket widths.
https://www.pgpf.org/blog/2018/03/how-tax-cuts-are-affecting-revenues-and-rates
Lawmakers should pursue policies that don’t make our fiscal outlook even worse.
https://www.pgpf.org/blog/2017/10/tax-cuts-then-and-now-the-debt-is-much-higher
The federal government finances its operations with taxes, fees, and other receipts collected from many different sectors of the economy.
https://www.pgpf.org/finding-solutions/understanding-the-budget/revenues
Last year's tax cuts have had significant implications for the federal budget, our economy, and every family and business in the country.
https://www.pgpf.org/blog/2018/10/five-things-that-we-have-learned-since-the-tax-cuts-were-enacted
Piling on more debt can harm our economy by crowding out private investment, reducing our fiscal flexibility, and lowering confidence and certainty.
https://www.pgpf.org/blog/2017/11/why-you-should-care-that-tax-cuts-add-to-the-national-debt