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Social Security is the largest single program in the federal budget and makes up approximately one quarter of total federal spending.
Most working Americans are subject to payroll taxes, which are usually deducted automatically from an employee’s paycheck. Employers are also often subject to these types of taxes.
Federal trust funds bear little resemblance to their private-sector counterparts.
The fairness of our federal tax system is a hotly debated issue. Too often, however, those debates confuse or misrepresent important facts because they focus on one type of tax in isolation rather than the various taxes that people face in aggregate.
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.
Discover why our fiscal health and economic strength are so closely tied, and why it is important to get the deficit under control and work toward a balanced budget.
Solutions to the fiscal challenge must be long-term, bipartisan budget solutions that can be implemented gradually. Discover some of the comprehensive plans proposed, as well as policy options for individual parts of the budget that merit consideration.
Many factors contribute to the long-term outlook for the U.S. economy and budget, but there are two major drivers of spending: demographics and rising healthcare costs.
A strong fiscal outlook is an essential foundation for a growing, thriving economy. Putting our nation on a sustainable fiscal path creates a positive environment for growth, opportunity and prosperity.