Do Higher Interest Rates Make a Debt Crisis More Likely?
The likelihood of a return to higher interest rates is “both reasonably likely at some point and potentially calamitous for the federal government and broader economy.”
Read MoreHow Does the Tax System Work?
While nearly all Americans pay taxes, the composition of the type of taxes paid is very different for taxpayers at various points in the income distribution.
Read MoreHow Do Marginal Income Tax Rates Work?
Some lawmakers favor substantial increases to marginal tax rates. Let’s look at how marginal tax rates and brackets work.
Read MoreWho Benefits More from Tax Breaks — High or Low-Income Earners?
The benefits from tax breaks do not flow equally to households of different income levels.
Read MorePresident Biden’s Budget Reduces Deficits, but Debt Would Remain High
In an important acknowledgement of our nation’s unsustainable fiscal outlook, the President’s budget for fiscal year 2023 proposes to reduce deficits by $1 trillion over the next decade relative to current law.
Read MoreHealthcare Spending Reaches a Record High
The rise in healthcare spending was largely driven by the federal response to the COVID-19 pandemic.
Read MorePoverty Rate Increased for the First Time in Five Years
For the first time in five years, the official poverty rate was higher than it was in the prior year, a result of the pandemic.
Read MoreInfographic: What Is in the Build Back Better Act?
The legislation includes support for families and lower-income households, funding for climate change, infrastructure and healthcare, and a range of other social investments and tax policy. The new spending is mostly, but not fully, offset by other savings in the bill.
Read MoreCan the TRUST Act Help Fix the Social Security, Medicare, and Highway Trust Funds?
Several federal programs that are governed by trust funds are facing serious funding shortfalls.
Read MoreHousing Insecurity: What is the Federal Government Doing to Prevent Evictions during the Pandemic?
Housing insecurity is an ongoing issue for millions of American families. COVID-19 and its economic impact exacerbated an existing shortage of affordable housing that far predated the pandemic.
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