Budget Basics Archive

Although the need for serious, long-term changes to the funding structure of the Highway Trust Fund is clear, there is disagreement over the approach to do so.
Estate and gift taxes are levied on the transfer of assets. Two areas of the tax code that are relatively small in dollar terms, but can generate a significant amount of attention and even controversy in the broader conversation about wealth.
Mar 9, 2020
Capitol Building Washington DC
PAYGO is a budget enforcement mechanism intended to prevent passage of legislation that increases deficits.
The National Flood Insurance Program (NFIP) is run by the federal government to reduce the impact of flooding on private and public structures.
A key assessment of poverty in America is the Official Poverty Measure (OPM), which is calculated by the United States Census Bureau using a range of income and economic data.
There is one cap for national defense and another cap for non-defense programs.
CBO plays a vitally important role in the federal budget process.
Jul 20, 2017
Capitol Building
Sequestration was designed to be a blunt instrument, whose arbitrary effects would be so undesirable that they would compel policymakers to reach compromise on budget legislation rather than allow the cuts to go into effect.
Reconciliation is a powerful process, whereby legislation drafted to meet those instructions has an easier path to passage.
While a 10-year window is currently the standard, the number of years covered by budget resolutions has varied.

What Does the Debt Mean for Our Future?

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National Debt Clock

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