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Federal Budget Archive

Federal Tax Collections & Inflation Surging

TweetShareSharePin0 Shares The latest inflation report confirms that prices for just about everything continue to rise, with the Consumer Price Index (CPI) up 8.3 percent over the last year and many categories up even higher, including food (11.4 percent) and energy (23.8 percent). While not part of the CPI, another measure of inflation (call it

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

Biden Tax Increases & 2023 Budget Proposal: Details & Analysis

TweetShareSharePin0 Shares This week, Treasury Secretary Janet Yellen will testify before the Senate Finance Committee and the House Ways and Means Committee on President Biden’s Fiscal Year 2023 Budget Proposals. Combined with the tax increases in the Build Back Better Act (BBBA), which the budget assumes becomes law, President Biden would raise revenues by $4

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