Committee for a Responsible Federal Budget
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Blog

Welcome to our blog – The Bottom Line, where you’ll find up-to-date commentary and analysis on the most important news in the fiscal world. Below is a list of our blog posts.

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Dec 11, 2017 | Other Spending

Sequester Relief Should Be Offset

Lawmakers are reportedly considering a year-end deal to repeal the sequester and increase discretionary spending potentially as much as $230 billion...
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Dec 8, 2017 | Other Spending

Appropriations Watch: FY 2018

Last updated 12/8/2017. The House (by a 235-193 vote) and Senate (by an 81-14 vote) passed a continuing resolution this week which funds...
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Dec 8, 2017 | Taxes

The Tax Bill Conference Committee Can Make The Final Bill Responsible

Both the House and Senate versions of the Tax Cuts and Jobs Act (TCJA) as currently written would cost nearly $1.5 trillion on a conventional basis...
Dec 7, 2017 | Taxes

Resources for Tax Reform

Efforts to reform the tax code are underway, and the legislative process is in full swing. CRFB has been tracking and compiling the scores of each...
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Dec 5, 2017 | Taxes

Comparing the Two Versions of the Tax Cuts and Jobs Act Headed to Conference

The House and Senate have each passed their own version of the Tax Cuts and Jobs Act, and lawmakers from each chamber will have to iron out the...
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Dec 5, 2017 | Taxes

Senate Tax Bill Could Ultimately Cost Up to $2 Trillion

The final Senate version of the Tax Cuts and Jobs Act (TCJA) would cost $1.45 trillion under conventional scoring and over $1 trillion on a dynamic...
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Dec 1, 2017 | Taxes

No Estimate Shows Tax Bills Would Pay For Themselves

The Joint Committee on Taxation (JCT) released an official dynamic estimate of the Tax Cuts and Jobs Act (TCJA) yesterday as reported by the Senate...
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Nov 30, 2017 | Taxes| Economics

Official Dynamic Score Shows Senate Tax Bill Will Still Cost Over $1 Trillion

The Joint Committee on Taxation (JCT) has released its official dynamic score of the Senate tax plan as passed by the Senate Finance Committee,...
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December Legislation Could Bring Back Trillion-Dollar Deficits

Congress has a lot on its plate this holiday season. Sadly, they seem far more focused on legislation to increase our post-war record-high national...
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Nov 29, 2017 | Taxes

Five Ways to Improve the Senate Tax Bill

The current Senate version of the Tax Cuts and Jobs Act (TCJA) would add too much to the debt, but several improvements could make the bill both more...
Nov 29, 2017 | Budgets & Projections

Alan Simpson and Erskine Bowles: A Moment of Truth for our Country’s Financial Future

Alan Simpson is a former Republican senator from Wyoming. Erskine Bowles served as chief of staff to President Bill Clinton from 1997 to 1998. They...
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Nov 20, 2017 | Taxes

Tax Policy Center Dynamically Scores House Tax Bill

The Tax Policy Center (TPC) today released a new dynamic analysis of the House-passed Tax Cuts and Jobs Act (TCJA), adding more proof that tax cuts...
Nov 20, 2017 | Economics

Gene Steuerle: A Debt Straightjacket or a Misdiagnosed Disease?

Dr. Eugene (Gene) Steuerle is the Richard B. Fisher chair and Institute Fellow at the Urban Institute and a member of the Committee for a Responsible...
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Nov 17, 2017 | Taxes

Comparing the Latest House and Senate Tax Bills by Provision

In broad fiscal terms, the House and Senate tax bills are very similar. Both plans would cost more than $1.4 trillion over ten years on paper while...
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Nov 17, 2017 | Other Spending| Taxes

Leon Panetta: Blowing Up the Debt is a Threat to America

Leon Panetta is a co-chair of the nonpartisan Committee for a Responsible Federal Budget. He recently wrote an opinion piece for USA Today. It...
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Nov 16, 2017 | Taxes| Economics

Dynamic Scoring Confirms: House or Senate Tax Bills Would Still Add to Debt

As more dynamic estimates of the Tax Cuts and Jobs Act (TCJA) are released, they all confirm that tax cuts do not pay for themselves. Because both...
Leon Panetta
Nov 16, 2017 | Other Spending| Taxes

Leon Panetta and Other Former Defense Secretaries: Debt-Increasing Tax Bill Threatens National Security

Leon Panetta is a co-chair of the nonpartisan Committee for a Responsible Federal Budget. He recently wrote a letter to Congressional leaders...
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Nov 16, 2017 | Taxes

New Senate Tax Bill Cuts Less Than $3.7 Trillion of Tax Breaks

One of the main goals for tax reform has been to follow the mantra of "broaden the base, lower rates." Yet despite over $18 trillion of tax...
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Nov 15, 2017 | Taxes

New Senate Tax Bill Hides Over $500 Billion of Gimmicks

NOTE: This is an old version of this analysis based on a version of the bill considered by the Senate Finance Committee. The bill was later modified...
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Nov 14, 2017 | Taxes| Economics

Checking the Facts on the Steve Forbes-Maya MacGuineas Tax Discussion

On Mornings With Maria, publisher and former presidential candidate Steve Forbes made several claims about tax cuts and economic growth during a...

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