Raising the current $10,000 cap on the State and Local Tax (SALT) deduction would primarily benefit high earners ...

Yesterday, the Senate passed by unanimous consent the No Tax on Tips Act, a bill that would create a federal income tax deduction of up to $25,000 a year for cash tips for eligible employees in ...

The Congressional Budget Office (CBO) released its first comprehensive estimate of the House’s Fiscal Year (FY) 2025 reconciliation bill – the On ...

In 2027, we estimate the House reconciliation bill would boost deficits to about 7.0 percent of GDP, which is more than ...

Already in 2024, spending on net interest surpassed all spending on Medicare and defense. With higher rates and debt, its ...

The House of Representatives may vote on the reconciliation package, or the “One, Big, Beautiful Bill Act” (OBBBA), this week.

As written, the reconciliation bill being considered in the House of Representatives is set to increase the debt by $3.3 ...

As the House considers a reconciliation package that is shaping up to add $3.3 trillion to the debt over a decade as writte ...

Committee for a Responsible Federal Budget President Maya MacGuineas recently joined CBS News' "America Decides" with host Major Garrett to discuss the cycle of the nation's rising debt and deficit ...

The credit rating agency Moody’s downgraded the credit rating of the US government from “Aaa” to “Aa1,” specifical ...

The House is continuing to mark up its reconciliation legislation, which we estimate would add $3.3 trillion to the debt ...