According to press reports, House lawmakers were recently considering a budget resolution with reconciliation instructions to ...

President Trump's tariffs include a 10 percent additional tariff on all imports from China that went into effect on February 4. We estimate that this tariff will raise $20 billion in revenue through ...

In order for the reconciliation process to begin, the House and Senate must pass a concurrent budget resolution that includes a deficit reduction or cost target for relevant committees. Each committee ...

The Tax Policy Center (TPC) recently published analyses of several options to raise the $10,000 State and Local Tax (SALT) ...

Conventional estimates assume tariffs would reduce import levels consistent with elasticities derived from research and that all gained tariff revenue would be subject to income and payroll tax ...

In early 2018, following passage of the Tax Cuts and Jobs Act (TCJA), the Congressional Budget Office projected revenue co ...

Stabilizing debt over the next decade at its current share of the economy would require $9.0 trillion of deficit reduction relative to the Congressional Budget Office’s (CBO) ...

The Republican Study Committee (RSC) Steering Committee released their position calling for deficit reduction in the upcoming budget reconciliation process, writing “Reconciliation legislation must ...

From Fiscal Year (FY) 2025 to 2035, nominal spending will grow by 53 percent according to the latest Congressional Budget Office (CBO) baseline. About 83 percent of this increase can be explained by ...

After being suspended by the Fiscal Responsibility Act in 2023, the federal debt ceiling was restored on January 2 and set to the outstanding debt level at that time: $36.1 trillion. In December 2024, ...