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Corporate tax receipts dropped by 31 percent in 2018 — an unprecedented decline during a time of economic growth. The Tax Cuts and Jobs Act is responsible for the plunge.
The International Monetary Fund warns that U.S. debt levels pose a risk for future economic growth and fiscal stability.
https://www.pgpf.org/blog/2018/10/imf-raises-concerns-for-fiscal-stability-of-the-united-states
Revenues in 2018 didn’t even keep up with inflation, much less growth in nominal gross domestic product.
https://www.pgpf.org/blog/2018/10/its-rare-for-revenue-growth-to-be-this-weak
Last year's tax cuts have had significant implications for the federal budget, our economy, and every family and business in the country.
https://www.pgpf.org/blog/2018/10/five-things-that-we-have-learned-since-the-tax-cuts-were-enacted
The dust has barely settled on the midterm elections, but there are a number of key fiscal issues not only facing the current Congress in coming weeks, but also awaiting the new Congress, which will convene in early 2019.
Programs that millions of Americans depend on and care about may be feeling a squeeze from interest costs on our high and rising national debt.
Significant damage was done to America’s fiscal outlook over the past year.
The decline in purchasing power has important implications for the federal budget and our nation’s infrastructure, and has led some to call for a new effort to address the gas tax.
Although a return to a normalized interest environment is a good sign for the overall strength of the economy, rate increases will make it more expensive for families and the government to borrow.