FISCAL BLOG

Monthly Archive for March 2022

The benefits from tax breaks do not flow equally to households of different income levels.

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In an important acknowledgement of our nation’s unsustainable fiscal outlook, the President’s budget for fiscal year 2023 proposes to reduce deficits by $1 trillion over the next decade relative to current law.

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The statutory tax rate is the percentage imposed by law. The effective tax rate is the percentage of income actually paid.

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Today, the Federal Reserve announced an increase in the target for the federal funds rate, the interest rate at which commercial banks lend to each other overnight.

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The federal government has enacted legislation to provide relief from the COVID-19 pandemic, and the Treasury has ramped up borrowing to pay for it.

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Currently, more Americans owe a greater average amount of student debt than at any time in U.S. history.

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Solutions Initiative 2024

Seven think tanks from across the ideological spectrum all agree that we are on an unsustainable fiscal path, and we need to change course.

National Debt Clock

See the latest numbers and learn more about the causes of our high and rising debt.