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“Our country is on an unsustainable fiscal path, and reforming our broken budget process can be an important part of improving our fiscal future," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
“Today’s CBO report confirms that major damage was done to our fiscal outlook in just the past few months," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
The Tax Cuts and Jobs Act will lower revenues significantly and made changes to both tax rates and bracket widths.
https://www.pgpf.org/blog/2018/03/how-tax-cuts-are-affecting-revenues-and-rates
To help better inform the current debate over tax reform, the Tax Policy Center (with a grant from the Peterson Foundation) put real numbers behind different scenarios for tax reform that are both distributionally neutral and fiscally responsible.
“Today’s budget represents a dramatically worse outlook than what was released just last May," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
https://www.pgpf.org/press-release/2018/02/peterson-foundation-statement-on-presidents-budget
“After adding trillions to our national debt in last year’s irresponsible tax bill, our leaders are now adding another $300 billion in deficits over just the next two years," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
https://www.pgpf.org/press-release/2018/02/peterson-foundation-statement-on-budget-deal
“In order to truly help our economy, infrastructure investments must be paid for, because adding more debt hurts our economy," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
“Piecemeal budgeting is a form of fiscal irresponsibility because it injects uncertainty and unpredictability into our economy," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
Congress has a proven track record of extending tax provisions without paying for them.
https://www.pgpf.org/blog/2017/12/tax-extenders-the-potential-hidden-costs-in-tax-reform
Piling on more debt can harm our economy by crowding out private investment, reducing our fiscal flexibility, increasing the risk of a sharp jump in interest rates, and lowering confidence and certainty.
https://www.pgpf.org/blog/2017/11/why-you-should-care-that-tax-cuts-add-to-the-national-debt
