Gross National Debt Reaches $37 Trillion | Committee for a Responsible Federal Budget
The gross national debt of the United States reached $37 trillion yesterday according to the U.S. Treasury.| Committee for a Responsible Federal Budget
The gross national debt of the United States reached $37 trillion yesterday according to the U.S. Treasury.| Committee for a Responsible Federal Budget
Fiscal Year (FY) 2025 will end at midnight on September 30, and unless policymakers agree on passing all 12 appropriations bills or passing a continuing resolution (CR) before then, the federal| Committee for a Responsible Federal Budget
2025-02-27-As the| Committee for a Responsible Federal Budget
Congress is preparing to use budget reconciliation to fast-track consideration of a number of new policies, including, according to| Committee for a Responsible Federal Budget
After two decades of uninterrupted borrowing – including three years in which deficits surpassed 10 percent of the economy – the U.S.| Committee for a Responsible Federal Budget
2024-06-13-Our newly-released| Committee for a Responsible Federal Budget
2024-10-17-UPDATE (October 2024): This piece has been updated for several plans in Peter G.| Committee for a Responsible Federal Budget
2024-07-25-It would require nearly $10 trillion of deficit reduction to stabilize debt at its current share of the economy over the next decade, according to the Congressional Budget Office’s| Committee for a Responsible Federal Budget
2024-06-18-The Congressional Budget Office (CBO) today released new ten-year budget and economic projections – an update from its| Committee for a Responsible Federal Budget
2025-05-13-The House Ways & Means Committee is set to| Committee for a Responsible Federal Budget
The Senate Budget Committee released a draft am| Committee for a Responsible Federal Budget
2025-08-20-The enactment of the| Committee for a Responsible Federal Budget
2023-08-16-In a video published to his campaign website on June 20, 2023, former President Donald Trump declared he would use “impoundment” authority to reduce federal spending.| Committee for a Responsible Federal Budget
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of the expiring Tax Cuts and Jobs Act provisions as enacted by the One Big Beautiful Bill Act; its calculations are now out of date.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
2025-05-05-The Ways and Means Committee has jurisdiction over nearly $50 trillion of spending and tax breaks that can be tapped for reconciliation, including from Me| Committee for a Responsible Federal Budget
2025-04-21-The Congressional Budget Office (CBO) recently found that extending the 2017 Tax Cuts and Jobs Act (TCJA) and adding $1.5 trillion in additional| Committee for a Responsible Federal Budget
2025-04-11-Congress’ concurrent budget resolution includes reconciliation instructions to allow lawmakers to pass a bill that a| Committee for a Responsible Federal Budget
2025-05-06-The 10-year Treasury yield today is approaching 4.4 percent, over 50 basis points above the intra-day low a month ago on April 7, more than twice as high as early 2022 and 30 basis points more than| Committee for a Responsible Federal Budget
2025-06-04-Note: (06/23/2025) Some categorizations and numbers in the Ways and Means' section of the table below have been updated to more accurately reflect the bill's potential impact.| Committee for a Responsible Federal Budget
2025-07-15-The recently enacted| Committee for a Responsible Federal Budget
Note: This analysis has been updated to incorporate new proposals announced by the candidates since we initially published on October 7.| Committee for a Responsible Federal Budget
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
2025-01-09-According to press| 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
2024-09-06-President Trump recently proposed lowering the corporate tax rate from 21 to 15 percent for corporations that make their products in America.| Committee for a Responsible Federal Budget
2024-09-24-Former President Donald Trump recently proposed eliminating taxes on overtime pay.| Committee for a Responsible Federal Budget
2025-02-04-According to press reports, House lawmakers were recently considering a budget resolution with reco| Committee for a Responsible Federal Budget
2025-05-10-Update (5/10/2025): This piece was published prior to the Joint Committee on Taxation's revenue estimate| Committee for a Responsible Federal Budget
2025-02-06-In a closed-door meeting with House Leadership today President Trump reportedly outlined his tax priorities.| Committee for a Responsible Federal Budget
The White House released its Fiscal Year (FY) 2025 budget proposal today, outlining President Biden’s tax and s| Committee for a Responsible Federal Budget
Oct 25, 2024| Committee for a Responsible Federal Budget
2024-06-16-| Committee for a Responsible Federal Budget
2024-07-31-Earlier today, former President Donald Trump suggested eliminating the partial income taxation of Social Security benefits, which currently helps fund the Social Security and Medicare Hospital Insu| Committee for a Responsible Federal Budget
2024-08-16-Vice President Kamala Harris released a document today – the Agenda to| Committee for a Responsible Federal Budget
2024-08-12-This past weekend, Vice President Kamala Harris announced that, if elected President, she would seek to exempt tip income from federal income taxes and raise the federal minimum wage.| Committee for a Responsible Federal Budget
2023-07-17-Update 2/2/24: We have updated our estimate for MA overpayments due to new research into coding intensity and favorable selection from| Committee for a Responsible Federal Budget
