Peterson Foundation Statement on Tax Legislation Advancing Through Congress
"This tax legislation is increasingly irresponsible from a fiscal standpoint," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
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"This tax legislation is increasingly irresponsible from a fiscal standpoint," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
The paper puts real numbers behind different scenarios for a structure for tax reform: eliminating income tax expenditures to enable lower tax rates.
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.
The Peter G. Peterson Foundation issues a statement on a plan by bipartisan group of senators.
Under current spending and tax policies, federal debt would be on a path that climbs to about 200 percent of gross domestic product within 25 years, according to CBO.
While a 10-year window is currently the standard, the number of years covered by budget resolutions has varied.
The Bipartisan Policy Center proposal is the first in a series of reports that will be released over the next several months that examines different ways to bring the budget back into balance and reduce the country’s mounting debt burden.
https://www.pgpf.org/press-release/restoring-america%E2%80%99s-future
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.
Projections of the long-term budget outlook have deteriorated significantly since last year.
https://www.pgpf.org/blog/2016/07/four-key-takeaways-from-the-long-term-budget-outlook
Peter G. Peterson pens an op-ed in the Wall Street Journal about tax aversion syndrome.
https://www.pgpf.org/press-release/tax-aversion-syndrome-and-our-deficit-future-by-peter-g-peterson