Statement from Foundation Chairman, Pete Peterson, on House Speaker Boehner’s Comments
“We applaud Speaker Boehner’s statement that congressional Republicans are willing to accept new revenues as part of a comprehensive fiscal plan. We are also pleased that President Obama has reached out to congressional leaders on both sides of the aisle. These are encouraging signs that the President and Congress may be moving toward compromise.
There is widespread agreement across the ideological spectrum about the dangers posed by the fiscal cliff, which looms just 54 days away. Our elected leaders should turn the fiscal cliff into a key moment of opportunity to bring the nation together to solve our long-term fiscal challenges.”
Further Reading
The Six Largest Corporate Tax Expenditures
Relative to the size of the economy, the U.S. collects less revenues than many other advanced countries. Tax expenditures are a contributing reason.
What’s the Difference Between the Trade Deficit and Budget Deficit?
The terms “budget deficit” and “trade deficit” can be conflated, but they are distinct measurements of important fiscal and economic concepts.
Understanding the New Senior Deduction in the One Big Beautiful Bill Act
The senior deduction adds complexity to the tax code, and fewer than half of seniors will benefit from it.