Committee for a Responsible Federal Budget
Concept_DC_Capitol Building

Blog

Welcome to our blog – The Bottom Line, where you’ll find up-to-date commentary and analysis on the most important news in the fiscal world. Below is a list of our blog posts.

Leon Panetta
Nov 16, 2017 | Other Spending| Taxes

Leon Panetta and Other Former Defense Secretaries: Debt-Increasing Tax Bill Threatens National Security

Leon Panetta is a co-chair of the nonpartisan Committee for a Responsible Federal Budget. He recently wrote a letter to Congressional leaders...
Concept_Business_Interview_Analysis
Nov 16, 2017 | Taxes

New Senate Tax Bill Cuts Less Than $3.7 Trillion of Tax Breaks

One of the main goals for tax reform has been to follow the mantra of "broaden the base, lower rates." Yet despite over $18 trillion of tax...
Concept_Debt
Nov 15, 2017 | Taxes

New Senate Tax Bill Hides Over $500 Billion of Gimmicks

NOTE: This is an old version of this analysis based on a version of the bill considered by the Senate Finance Committee. The bill was later modified...
Concept_calculator
Nov 14, 2017 | Taxes| Economics

Checking the Facts on the Steve Forbes-Maya MacGuineas Tax Discussion

On Mornings With Maria, publisher and former presidential candidate Steve Forbes made several claims about tax cuts and economic growth during a...
Concept_Capitol Building_Money
Nov 14, 2017 | Taxes

Senate Tax Bill Could Add $1.8 Trillion to Debt

The Senate version of the Tax Cuts and Jobs Act (TCJA) is estimated to increase deficits by $1.5 trillion over ten years. However, even this cost...
Concept_DC_Capitol Building
Nov 10, 2017 | Taxes

The Good, the Bad, and the Ugly of the Senate Tax Bill

Senate Finance Committee Chairman Orrin Hatch (R-UT) has released his Chairman's Mark of the Tax Cuts and Jobs Act, a Senate version of the House's...
Taxes_1040 Form
Nov 10, 2017 | Taxes

Both House and Senate Tax Bills Carry Substantial Costs

According to the Joint Committee on Taxation (JCT), the Senate version of the Tax Cuts and Jobs Act (TCJA) will add $1.5 trillion to the debt before...
Concept_Stock Market_Recession
Nov 8, 2017 | Taxes| Economics

Under Dynamic Scoring, House Tax Bill Still Explodes the Debt

Note: this blog has been updated to reflect the Tax Foundation's corrected growth and revenue numbers. Recent dynamic estimates of the Tax Cuts and...
Nov 7, 2017 | Taxes

The Tax Cuts and Jobs Act Doesn't Comply with the Byrd Rule

While the Tax Cuts and Jobs Act (TCJA) under consideration in the House would satisfy reconciliation instructions requiring it add no more than $1.5...
Concept_calculator
Nov 3, 2017 | Taxes

House Tax Plan May Add Over $2 Trillion to the Debt

Note: This blog has been updated from its original posting to account for the new JCT score and a new estimate for the cost of extending the family...
Concept_DC_Capitol Building Storm
Nov 2, 2017 | Taxes

The Good, the Bad, and the Ugly of the House Tax Bill

House Ways and Means Committee Chairman Kevin Brady (R-TX) has released the Tax Cuts and Jobs Act, the first version of tax reform to be put into...
Taxes_1040 Form
Nov 2, 2017 | Taxes

Tax Cuts and Jobs Act Will Cost $1.5 Trillion

According to House Ways and Means Committee Chairman Kevin Brady (R-TX), today's Tax Cuts and Jobs Act will add $1.51 trillion to the debt, before...
Concept_Health Care_Medical Professionals
Oct 31, 2017 | Health Care

House Releases Responsible Health Package

At a time when fiscal restraints are being disregarded, a House bill released yesterday would responsibly pay for extensions of the Children's Health...
Concept_Community
Oct 30, 2017 | Taxes

The Mortgage Interest Deduction Should Be on the Table

As efforts for tax reform continue, there will be plenty of discussion about which tax breaks should be retained and which should be reduced or...
Concept_Taxes_Calculator_Business
Oct 27, 2017 | Taxes

Temporary Expensing is a Budget Gimmick and a Bad Idea

One provision included in the $2.2 trillion "Unified Tax Framework" would allow companies to fully deduct or "expense" capital purchases other than...
Concept_DC_Capitol Building
Oct 27, 2017 | Budgets & Projections

FY 2018 Budget Resolution Resources

This blog has been updated to reflect new publications as of 10/27/17. Consideration of the congressional budget resolution has drawn to a close on...
Concept_Debt
Oct 25, 2017 | Taxes

Is President Trump's Tax Cut the Largest in History Yet?

President Trump has often stated that his proposed tax cut will be the largest in history. We previously found his $5.5 trillion framework in April...
Concept_DC_Capitol Building
Oct 24, 2017 | Taxes

Event Recap: Paying for Tax Reform

On October 4, the Committee for a Responsible Federal Budget (CRFB) hosted an event on Capitol Hill on the need to pay for tax reform. The event...
Concept_Wallet
Oct 24, 2017 | Budgets & Projections

Senate Budget Is More Irresponsible Than the House

The House of Representatives is expected to vote this week to adopt the Senate’s budget resolution, rather than support their own budget resolution...
Concept_Family
Oct 23, 2017 | Taxes

Maya MacGuineas: Trump Tax Cuts Could Cost Your Kids Dearly

Maya MacGuineas is president of the nonpartisan Committee for a Responsible Federal Budget and head of the Campaign to Fix the Debt. She recently...

Pages