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debt and interest rates Archive

Federal Tax & Budget Policy During the Lame Duck

TweetShareSharePin0 Shares Two weeks after the 2022 midterm elections, it’s becoming clearer where tax policy may be headed for the rest of the year and into 2023. In the short term, Congress must deal with tax extenders and expiring business tax provisions that may undermine the economy. Next year, the return of divided government and

2022 Tax Extenders: Details & Analysis

TweetShareSharePin0 Shares At the end of each year, policymakers face a series of expiring tax provisions that are typically extended on a temporary basis, setting up a recurring and almost ritualistic tax extenders season. At a time of heightened concerns about the economy, high deficits, and inflation, policymakers should prioritize stability and economic growth by

The “Inflation Tax” Is Regressive | Inflation Effects

TweetShareSharePin0 Shares Inflation operates much like a tax, a particularly egregious one that disproportionately falls on the poor and leads to a variety of economic problems, including, as we’re seeing, higher interest rates, slow economic growth, and reduced incomes. With inflation still running high, it is worth exploring who bears the cost of the surge

CBO Long-Term Budget Outlook: Details & Analysis

TweetShareSharePin0 Shares As the reality of a second quarter of negative economic growth settles in Washington, the Congressional Budget Office (CBO) released its own sobering report on the government’s long-term finances. The CBO long-term budget outlook report shows widening deficits over the next three decades as both federal spending and tax revenues are expected to

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