Coronavirus Executive Actions Highlight Our Broken Budget Process
President Trump signed executive actions related to unemployment insurance, payroll tax relief, student debt, and housing evictions.
Read MoreIMF Releases Most Pessimistic Economic Projections for the United States to Date
The IMF estimates that real GDP in the United States will fall by 8 percent in 2020, according to the latest update to their World Economic Outlook report.
Read MoreReal GDP Falls a Record-Breaking 32.9% in Second Quarter
New economic growth statistics confirm that the American economy continues to suffer historic damage during the coronavirus pandemic.
Read MoreLegislation to Fight Coronavirus Pandemic Has Reduced Federal Revenues by $500 Billion
Coronavirus relief legislation is expected to increase federal deficits by $2.4 trillion over the next decade.
Read MoreSee How the Coronavirus Has Impacted 10-Year Projections for GDP and More
It’s going to take at least a decade for the labor market to recover from the coronavirus pandemic, according to the latest data from the CBO.
Read MoreWhat Are Estate and Gift Taxes and How Do They Work?
Estate and gift taxes are levied on the transfer of assets. Two areas of the tax code that are relatively small in dollar terms, but can generate a significant amount of attention and even controversy in the broader conversation about wealth.
Read MoreCBO Director: Economy Rebounding but the Fiscal Situation Leaves the U.S. Vulnerable
America’s economic rebound from the pandemic seems to have begun, according to Phillip Swagel, the director of the nonpartisan Congressional Budget Office.
Read MoreThe Coronavirus Caused the Deficit to Balloon in April — Usually a Surplus Month
A large decrease in revenues and a large increase in spending have led the Congressional Budget Office to estimate a deficit of $737 billion in April 2020.
Read MoreFirst Economic Growth Report under the Coronavirus: Real GDP Falls 4.8% in First Quarter
The decrease in GDP in the first quarter was driven by a decline in consumption and investment.
Read MoreU.S. GDP to Fall 5.6% Due to Coronavirus, According to New CBO Projections
The new numbers demonstrate the severe economic damage and significant fiscal implications of this unprecedented crisis.
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