FISCAL BLOG

The continued economic recovery, fueled by consumer spending, brought economic output back to its pre-pandemic level just a year after the worst economic contraction ever recorded.

The rising national debt carries substantial costs today and poses an even greater toll on America’s future.

Understanding the United States’ changing labor force can be a key part of understanding larger trends in the overall economy. Here are key characteristics of the foreign-born population and how they compare to the native-born population.

A key provision of the ARP advances half of the expected credit for 2021 in periodic payments, which have now begun.

Adjustments to the U.S. corporate income tax system could influence the level of domestic investment, economic growth, and hiring; such adjustments would also alter the amount of revenues collected by the federal government, which would have an effect on the nation’s fiscal outlook.

While the United States does not currently have a nationwide free college program, a number of such initiatives have been proposed in the past few years.

Even if Congress raises the debt limit and avoids default, last-minute brinksmanship alone has the potential to create economic damage.

President Biden’s budget for fiscal year 2022 outlines new details of the American Families Plan (AFP), a $1.7 trillion package including major new investments in education, childcare, healthcare, and family leave.

The coronavirus (COVID-19) pandemic has caused federal spending on Medicaid to rise sharply as millions of Americans seek benefits under the program.

The deduction of state and local tax payments (known as SALT) from federal income taxes has been a subject of debate among economists and policymakers over the past few years — with significant implications for our budget and fiscal outlook.