Some Republicans want to use revenue collected from higher duties on foreign goods to finance tax cuts. Economists say such a shift could widen the gap between the rich and the poor.
Category: Congressional Budget Office
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Trump’s Proposed Tax Cuts and Increased Tariffs Could Hurt Poorer Households
Some Republicans want to use revenue collected from higher duties on foreign goods to finance tax cuts. Economists say such a shift could widen the gap between the rich and the poor.
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U.S. Debt on Pace to Top $56 Trillion Over Next 10 Years
Congressional Budget Office projections released on Tuesday show a grim fiscal backdrop ahead of tax and debt limit fights.
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U.S. Debt Races Toward Record This Decade, C.B.O. Warns
Recently passed spending limits have slightly improved the nation’s fiscal outlook.
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Biden’s Budget Underscores Divide With Republicans and Trump
The president’s $7.3 trillion budget proposal for the next fiscal year includes about $3 trillion in deficit reduction over a decade, largely from raising taxes on high earners and corporations.
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Here’s the latest on the president’s priorities.
The president’s $7.3 trillion budget proposal for the next fiscal year includes about $3 trillion in deficit reduction over a decade, largely from raising taxes on high earners and corporations.
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Biden Budget Will Underscore Divide With Republicans and Trump
The president’s fiscal 2025 budget proposal includes about $3 trillion in deficit reduction over a decade, largely from raising taxes on high earners and corporations.
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A Tax Sunset Will Change What You Owe the I.R.S.
Important regulations expire at the end of next year, thwarting tax planning and creating a monumental fiscal challenge for Congress.
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The Federal Deficit Is Growing. This Is Why.
Tax receipts dipped unexpectedly last year. The Biden administration blames Republican tax cuts, but the truth is more complicated.
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U.S. Faces ‘Significant Risk’ of Running Out of Cash in June, C.B.O. Warns
A default would cause financial distress, economic disruptions and rapid increases in borrowing rates, the nonpartisan Congressional Budget Office said.