Statement from Foundation President & COO Michael A. Peterson on This Week’s Release of House and Senate Budget Proposals
Statement from Foundation President & COO Michael A. Peterson on This Week’s Release of House and Senate Budget Proposals
The release of the Murray and Ryan budget proposals this week is a potential turning point in the debate about America’s fiscal and economic future.
“Our elected leaders should use this moment in time to begin a more serious discussion about a budget agreement. Despite the recent series of brinksmanship and fiscal deadlines, both sides continue to have the opportunity to agree on a comprehensive plan that achieves the goal of any sustainable fiscal policy by stabilizing the debt and putting it on a downward path for the long term.
“Any politically successful and sustainable plan will have to incorporate ideas from both parties. Our leaders should take this opportunity to strengthen our economy by bringing clarity and certainty to America’s long-term fiscal outlook.”
Further Reading
Rising National Debt Increases Costs for American Families and Businesses
Federal fiscal policy is a significant but often overlooked factor in the affordability of vehicles, homes, and small business loans.
Payroll Taxes: What Are They and What Do They Fund?
Payroll taxes fund social insurance programs including Social Security and Medicare and are the second-largest source of revenues for the federal government.
Tax Reform Alone May Not Be Enough to Stabilize the National Debt
A new report from the Tax Foundation breaks down the drivers of the fiscal imbalance and concludes that tax increases alone cannot solve the problem.