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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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...
Leon Panetta
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

The new Senate Finance Chairman's mark of the Tax Cuts and Jobs Act (TCJA) would cost $1.41 trillion and significantly worsen our already...
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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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Nov 14, 2017 | Taxes

Senate Tax Bill Could Add $1.8 Trillion to Debt

The Senate version of the Tax Cuts and Jobs Act (TCJA) is estimated to increase deficits by $1.5 trillion over ten years. However, even this cost...
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Nov 10, 2017 | Taxes

The Good, the Bad, and the Ugly of the Senate Tax Bill

Senate Finance Committee Chairman Orrin Hatch (R-UT) has released his Chairman's Mark of the Tax Cuts and Jobs Act, a Senate version of the House's...
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Nov 10, 2017 | Taxes

Both House and Senate Tax Bills Carry Substantial Costs

According to the Joint Committee on Taxation (JCT), the Senate version of the Tax Cuts and Jobs Act (TCJA) will add $1.5 trillion to the debt before...
Nov 10, 2017 | Taxes

Resources for Tax Reform

Efforts to reform the tax code are underway, and they will pick up further this fall when the legislative process formally begins. CRFB has published...
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Nov 8, 2017 | Taxes| Economics

Under Dynamic Scoring, House Tax Bill Still Explodes the Debt

Note: this blog has been updated to reflect the Tax Foundation's corrected growth and revenue numbers. Recent dynamic estimates of the Tax Cuts and...
Nov 7, 2017 | Taxes

The Tax Cuts and Jobs Act Doesn't Comply with the Byrd Rule

While the Tax Cuts and Jobs Act (TCJA) under consideration in the House would satisfy reconciliation instructions requiring it add no more than $1.5...
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Nov 3, 2017 | Taxes

House Tax Plan May Add Over $2 Trillion to the Debt

Note: This blog has been updated from its original posting to account for the new JCT score and a new estimate for the cost of extending the family...
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Nov 2, 2017 | Taxes

The Good, the Bad, and the Ugly of the House Tax Bill

House Ways and Means Committee Chairman Kevin Brady (R-TX) has released the Tax Cuts and Jobs Act, the first version of tax reform to be put into...
Taxes_1040 Form
Nov 2, 2017 | Taxes

Tax Cuts and Jobs Act Will Cost $1.5 Trillion

According to House Ways and Means Committee Chairman Kevin Brady (R-TX), today's Tax Cuts and Jobs Act will add $1.51 trillion to the debt, before...
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Oct 31, 2017 | Health Care

House Releases Responsible Health Package

At a time when fiscal restraints are being disregarded, a House bill released yesterday would responsibly pay for extensions of the Children's Health...
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Oct 30, 2017 | Taxes

The Mortgage Interest Deduction Should Be on the Table

As efforts for tax reform continue, there will be plenty of discussion about which tax breaks should be retained and which should be reduced or...
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Oct 27, 2017 | Taxes

Temporary Expensing is a Budget Gimmick and a Bad Idea

One provision included in the $2.2 trillion "Unified Tax Framework" would allow companies to fully deduct or "expense" capital purchases other than...
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Oct 27, 2017 | Budgets & Projections

FY 2018 Budget Resolution Resources

This blog has been updated to reflect new publications as of 10/27/17. Consideration of the congressional budget resolution has drawn to a close on...

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