The federal budget deficit totaled $2.0 trillion for calendar year 2024, an increase of roughly $200 billion from the ...

Rather than weakening the SALT cap, lawmakers should strengthen it. Concern over the marriage penalty could be addressed by reducing the SALT cap to $5,000 for single filers or setting a new ...

The United States borrowed $710 billion in the first three months of Fiscal Year (FY) 2025, including $85 billion in the month of December, according to the latest Monthly Budget Review from the ...

Committee president Maya MacGuineas recently appeared on Bloomberg's "Balance of Power" to discuss President-elect Trump's comments on the debt ceiling, the House and Speaker's plan for a reconcili ...

After being suspended by the Fiscal Responsibility Act in 2023, the federal debt ceiling was restored on January 2 and set to the outstanding debt level at that time: $36.1 trillion. In December 2024, ...

The next few years will include several predictable fiscal policy deadlines that will force congressional action. Many of the deadlines could bring additional costs if Congress acts irresponsibly, or ...

As we have pointed out before, extending the various individual and estate tax provisions of the Tax Cuts and Jobs Act (TCJA) beyond their scheduled expiration at the end of 2025 is unlikely to boost ...

Lawmakers intend to pursue budget reconciliation legislation in the coming months, which requires passage of a concurrent budget resolution that includes reconciliation instructions in order to ...