In the latest Fiscal Fridays interview, Republican front-runner Donald Trump said that as president he would cut taxes on businesses and the middle class, maintain current Social Security and Medicare benefits, and yet still balance the federal budget in short…
The House of Representatives is expected to approve a new rule requiring the Congressional Budget Office (CBO) and the Joint Committee on Taxation (JCT) to incorporate the estimated macroeconomic effects of major legislation into their official scores. This process, often…
The House Ways and Means Committee and Senate Finance Committee approved similar plans last week to transfer $10 billion to the Highway Trust Fund so it can continue making payments to states through next May. Unfortunately, both plans rely on…
President Obama and Congress may have put fiscal sustainability on the back burner, but the Government Accountability Office (GAO) has not. In its annual update of the federal government’s long-term fiscal outlook, released last week, GAO warns: (more…)