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Dec 7, 2023

Would Increased Funding for the IRS Narrow the Tax Gap?

Nearly half a trillion dollars in taxes go uncollected every year. Can increased funding for the IRS bring in more federal revenues?

May 29, 2024

These Tax Expenditures Cost Billions More Than Anticipated — Here’s Why

The growing price tags demonstrate that the ultimate cost of a new tax break can be difficult to anticipate.

Apr 5, 2023

Healthcare Spending in the United States Remains High

Healthcare spending in the United States totaled 18.3 percent of gross domestic product (GDP) in 2021.

Jan 23, 2024

How Would the Tax Relief for American Families and Workers Act Change Federal Tax Law?

The Tax Relief for American Families and Workers Act is estimated to cost about $400 million over 10 years.

Jan 17, 2025

National Debt on Track to Reach Record High in Just Four Years

CBO’s latest projections come at a key time, as lawmakers will be faced with a range of critical fiscal decision points in the coming year. Here are seven takeaways from the report.

Feb 25, 2025

Should the U.S. Change the Corporate Tax Rate in 2025?

Here’s why lawmakers lowered the corporate tax rate in 2017, how the lower rate impacted the U.S., and how the rate might be reformed in 2025.

Mar 27, 2018

Budget Process Reform: What Are Budget Caps?

Here’s some background on the origin of caps on appropriations, also known as “discretionary caps,” and the recent history of those caps.

Jan 2, 2019

Can a New Congress — and a Divided Government — Make Progress on Fiscal Challenges?

A divided government means there is both a requirement and a valuable opportunity for lawmakers to work together on fiscal solutions.

Apr 6, 2023

Five Different Ways of Raising Taxes on the Wealthiest Americans

Many options exist to reduce the imbalance between spending and revenues, including additional taxes on wealthier Americans.

May 25, 2022

Interest Costs Rise Sharply in Latest CBO Report

While this year’s deficit looks much better primarily due to the expiration of pandemic relief programs, CBO projects that the deficit will soon begin to climb again.