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News
April 1, 2025
Can a Rescissions Package Help Lawmakers Formalize DOGE Cuts?
There has recently been significant discussion surrounding spending cuts proposed by the Department of Government Efficiency (DOGE), including questions about how and whether cuts identified by DOGE can translate into deficit reduction. Additionally, there have been questions raised about the role of DOGE with respect to the legislative branch’s “power of the purse.“ Given the…
March 31, 2025
Full Array of Republican Tax Cuts Could Add $9 Trillion to the National Debt
Fully extending the TCJA would cost approximately $5.0 trillion, while other elements of the Republican tax agenda also have large price tags over ten years.
March 27, 2025
Long-Term Budget Outlook Leaves No Room for Costly Legislation
As lawmakers consider costly legislation to extend expiring tax provisions this year, CBO’s latest projections serve as a warning that our fiscal outlook is already dangerously unsustainable.
March 27, 2025
Peterson Foundation Statement on CBO Long-Term Budget Outlook
Michael A. Peterson, CEO of the Peter G. Peterson Foundation, commented today on the release of the Congressional Budget Office’s updated Long-Term Budget Outlook: “Today’s CBO report shows debt rising rapidly over the next three decades, and serves as a timely warning for this year’s tax policy debate. “Over the next 30 years, debt will…
March 26, 2025
Moody’s Warns Recent Policy Decisions Worsen U.S. Fiscal State, Maintains Negative Outlook Rating
Moody’s says that the United States is in fiscal deterioration, warning that government policy decisions in the near term could contribute to higher interest rates and worsening national debt.
March 26, 2025
U.S. Fiscal Confidence Falls with Trillions in Tax Cuts on the Table
“Tomorrow, we will get an updated fiscal outlook, but we already know that the picture is dire,” said Michael A. Peterson.
March 25, 2025
What Is a Continuing Resolution?
A continuing resolution is a temporary funding measure that Congress can use to fund the federal government for a limited amount of time.
March 25, 2025
Continuing Resolutions Are Stopgap Measures — But Now We Average Five a Year
While continuing resolutions can help avoid government shutdowns, they should be rarely used. However, CRs have become the norm.
March 21, 2025
National Debt Would Skyrocket Under TCJA Extension
New analysis released from the nonpartisan CBO shows deficits doubling and debt skyrocketing under a scenario where the expiring provisions of the Tax Cuts and Jobs Act were made permanent.
March 20, 2025
Why Do Budget Baselines Matter?
Applying the current-policy baseline would not only be fiscally irresponsible in terms of this year’s tax debate, but it would set a dangerous precedent for the future.