What Is the SALT Cap?
The deduction of state and local tax payments from federal income taxes has been a subject of debate among economists and policymakers over the past few years — with significant implications for our budget and fiscal outlook.
Read MoreInfographic: How the U.S. Tax System Works
One issue that most lawmakers and voters agree on is that our tax system needs reform.
Read MoreWhat Is the Premium Tax Credit?
The premium tax credit reduces the cost of health insurance for millions of Americans. It is also one of the largest federal tax expenditures.
Read MoreFederal Healthcare Costs on Track to Reach $3.1 Trillion by 2036
Federal healthcare programs are among the fastest-growing drivers of federal spending, and their continued growth will put significant upward pressure on the national debt.
Read MoreSocial Security’s Funding Gap is 1.3% of GDP — Here’s How We Can Close It
Social Security is an integral part of the nation’s fiscal picture and a vital economic lifeline for millions of recipients.
Read MoreBudget Basics: What Is Sequestration?
Sequestration is a budget procedure used by lawmakers to cancel or limit funding in order to meet budget goals.
Read MoreWhat Are Caps on Discretionary Spending and Do They Work?
Let’s look at the trends in discretionary spending and how effective caps are in reducing the debt.
Read MoreThe United States Collects Less Tax Revenue Than Other G7 Countries
The U.S. collects less tax revenues compared with other G7 countries, and that lower level of revenues is a key driver of the national debt.
Read MoreIssues: Economic Outlook
A strong fiscal foundation supports economic opportunity and prosperity. Explore the relationship between the national debt and our economic outlook.
Read MoreEnergy Tax Policy Under the OBBBA
As part of the OBBBA, lawmakers rolled back existing energy tax incentives in order to partially offset the bill’s deficit impact.
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