Peterson Foundation Statement on Tax Legislation Advancing Through Congress
"This tax legislation is increasingly irresponsible from a fiscal standpoint," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
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"This tax legislation is increasingly irresponsible from a fiscal standpoint," 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.
"The potential addition of a revenue trigger is the latest in a list of fiscal gimmicks that are being included in this bill," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
https://www.pgpf.org/press-release/2017/11/peterson-foundation-statement-on-senate-tax-bill-0
The paper puts real numbers behind different scenarios for a structure for tax reform: eliminating income tax expenditures to enable lower tax rates.
“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.
Independent analyses agree unanimously that either bill would add significantly to the growing national debt.
https://www.pgpf.org/blog/2017/12/poll-voters-say-that-tax-reform-shouldn%E2%80%99t-grow-the-debt
Washington is debating tax reform. There’s talk of substantial tax cuts that would give trillions of dollars back to American taxpayers. That might sound great to some. But if Congress doesn’t find a way to pay for those tax cuts, future generations will be stuck with the bill.
The legislation is fiscally irresponsible and will add significantly to America's national debt.
https://www.pgpf.org/analysis/congress-passes-costly-and-unfunded-tax-legislation
While the Tax Cuts and Jobs Act of 2017 will likely boost economic growth in the near term, the effects of the legislation are temporary.
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.