Committee for a Responsible Federal Budget5 天
FY 2024 Ends with $1.8 Trillion Deficit
The U.S. Department of the Treasury recently released its final Monthly Treasury Statement for Fiscal Year (FY) 2024, showing ...
Committee for a Responsible Federal Budget2 天
CBO Estimates $255 Billion Deficit for First Month of Fiscal Year 2025
The United States borrowed $255 billion in the first month of fiscal year 2025, according to the latest Monthly Budget ...
Committee for a Responsible Federal Budget1 个月
SALT Deduction Resources
The 2017 Tax Cuts and Jobs Act (TCJA) includes a $10,000 limit on the deduction for State and Local Taxes (SALT), which helps ...
Committee for a Responsible Federal Budget17 天
IRS Estimates a $606 Billion Tax Gap for 2022
In its new report, the IRS estimates that: The gross tax gap was $708 billion for 2021 and $696 billion in 2022; after ...
Committee for a Responsible Federal Budget1 个月
Board Members
The Committee’s Board comprises some of the nation's leading budget experts, including many past heads of the House and Senate Budget Committees, the Congressional Budget Office, the Office of ...
Committee for a Responsible Federal Budget5 年
Erskine Bowles
Erskine Bowles served as the director of the Small Business Administration, deputy chief of staff (1994-95) and chief of staff (1996-98) under the Clinton Administration. He served as president of the ...
Committee for a Responsible Federal Budget1 个月
Is It Worth It?
The “Earned Income Tax Credit” is paid out to working families with low to moderate incomes. A family with more children receives a larger credit. The Earned Income Tax Credit is listed as both a ...
Committee for a Responsible Federal Budget1 个月
Build Your Own Tax Extensions
Large parts of the 2017 Tax Cuts & Jobs Act (TCJA) are set to expire at the end of 2025. Design your own solution below. The TCJA repealed the personal exemption and in its place nearly doubled the ...
Committee for a Responsible Federal Budget21 天
What Would the Trump Campaign Plans Mean for Social Security?
The Social Security trust funds will be insolvent by Fiscal Year (FY) 2034, according to projections by the Congressional Budget Office (CBO), at which point the law calls for a 23 percent cut in ...
Committee for a Responsible Federal Budget4 年
Budget Offsets Bank
The federal debt is nearly the size of the economy, and deficits are expected to exceed $1 trillion almost every year going forward. In order to help policymakers offset the cost of new spending ...
Committee for a Responsible Federal Budget16 天
Proposed Hardship Rule a Brazen Attempt at Student Debt Cancellation
Today the Department of Education officially proposed regulations related to cancelling student debt due to “hardship.” It contains two provisions, one that cancels debt for those that the Department ...
Committee for a Responsible Federal Budget1 年
Build Your Own Child Tax Credit
Under current law through 2025, $1,700 of the $2,000 child tax credit can be "refundable," meaning it can be issued as a refund to those with no tax liability. The credit phases in by 15 percent of ...