Peterson Foundation Statement on JSC Concluding Without Passing Recommendations
Peterson Foundation Statement on JSC Concluding Without Passing Recommendations
NEW YORK — Michael A. Peterson, CEO of the Peter G. Peterson Foundation, commented today after the bipartisan Joint Select Committee on Budget and Appropriations Process Reform dissolved without passing any recommendations:
“It’s unfortunate that even the Committee’s draft package of modest recommendations failed to advance. Significant work remains to address America’s fiscal challenges and the Committee’s proposals could have been a small step in the right direction to improve our budget process.
“Members of this Committee spent nearly a year discussing a range of fiscally responsible ideas. Many of these are worthy of additional consideration, and lawmakers in the new Congress should explore bipartisan reforms to improve our broken budget process.”
Further Reading
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The senior deduction adds complexity to the tax code, and fewer than half of seniors will benefit from it.
The Federal Government Has Borrowed Trillions. Who Owns All that Debt?
Most federal debt is owed to domestic holders, but foreign ownership is much higher now than it was about 50 years ago.