Statement from Peterson Foundation on Proposed Budget Deal
Statement from Peterson Foundation on Proposed Budget Deal
NEW YORK — Michael A. Peterson, President and COO of the Peter G. Peterson Foundation, released the following statement this evening as the budget conference committee reached a bipartisan budget agreement:
“This bipartisan deal looks like a good step, but it doesn’t address the real drivers of our long-term debt. We should all welcome our lawmakers coming together on a budget agreement that would end the recent cycle of governing by crisis. But make no mistake — we still have a lot more to do to put our nation on a sustainable fiscal path. I’m hopeful that this agreement will lay the foundation for future bipartisan collaboration to stabilize our national debt for the long term.”
Further Reading
Budget Basics: What Is the Child Tax Credit?
The CTC provides assistance to families with children, and while it represents a relatively modest part of overall government spending, it is one of the largest tax expenditures.
Budget Basics: Tax Expenditures
Tax expenditures can come in the form of exclusions, exemptions, deductions, and credits.
What Are the Economic Costs of Child Poverty?
Child poverty is higher in the United States than in other wealthy countries. Studies show that it has quantifiable economic costs.