FISCAL BLOG

In 2017, Congress and the President enacted the Tax Cuts and Jobs Act (TCJA), which made significant changes to the tax code for individuals and corporations.

One of the most fundamental responsibilities of the federal government is to set and pass a budget every year, allocating funding towards the nation’s needs and priorities.

A continuing resolution is a temporary funding measure that Congress can use to fund the federal government for a limited amount of time.

A group of respected policy experts share their views on how a bipartisan fiscal commission could help break the cycle of governing by crisis.

The words debt and deficit come up frequently in debates about the policy decisions that lawmakers face. The two concepts are similar, but are often confused.

The primary deficit focuses on the difference between government revenues and spending, excluding interest payments. Learn more about the U.S. primary deficit.

Programs that millions of Americans depend on and care about may be feeling a squeeze from interest costs on our high and rising national debt.

The most recent projections from CBO confirm once again that America’s fiscal outlook is on an unsustainable path — increasingly driven by higher interest costs.

CBO’s report is the latest warning sign about the dire fiscal outlook.

Federal Reserve Chair Jerome Powell, speaking in an interview, said that now is the time to start addressing our $34 trillion and rising national debt.