The below tool was created prior to the permanent extension of the expiring Tax Cuts and Jobs Act provisions as enacted by the One Big Beautiful Bill Act; its calculations are now out of date. We plan to update this tool in the future.| Committee for a Responsible Federal Budget
We estimate that incorporating the Trump administration’s major tax proposals into the FY2025 House budget reconciliation would require that the provisions mostly sunset by December 31, 2033. Even so, primary deficits would increase by $5.1 trillion before economic effects and by $4.9 trillion after| Penn Wharton Budget Model
With the national debt on course to exceed its record as a share of the economy in the next two years, interest payments on the debt surging, and major trust funds approaching insolvency, policymakers will need to enact policies to reduce deficits and/or pay for new spending or tax cuts. To help policymakers achieve deficit reduction, the Committee for a Responsible Budget is publishing a series listing policy options to reduce the deficit or use as offsets.| Committee for a Responsible Federal Budget
2024-12-03-Update: The offset options below were estimated prior to enactment of the One Big Beautiful Bill Act (OBBBA) and have not been updated.| Committee for a Responsible Federal Budget
2025-02-05-A recent press report indicated that House leadership may be considering a budget resolution that w| Committee for a Responsible Federal Budget
