Key Points Social Security trust funds are projected to become insolvent in 2035. Unless Congress acts, this will trigger benefit cuts of roughly 17 percent. President Trump and Elon Musk have repeatedly claimed that improper benefit payments to dead people…
September 4, 2024 Download PDF In 1994, President Clinton appointed us to co-chair the Bipartisan Commission on Entitlement and Tax Reform. We were hopeful that Congress and the President would come together on a plan to put the budget on…
Introduction According to the Congressional Budget Office (CBO), the federal government will continue to face a large and growing shortfall between taxes and spending, resulting in a rising level of federal debt held by the public.[1] This debt will crowd…
Introduction According to public opinion polls, most Americans believe the rich do not pay their fair share of taxes.[1] While these polls do not reveal what the public believes a fair share would be, many pundits and politicians suggest history…
On March 11, President Biden transmitted to Congress his proposed budget for FY 2025. Although a Republican-controlled House means the Biden budget has little chance of enactment without significant modification, it represents an important starting point for negotiations and is…
Introduction According to public opinion polls, the most popular way to “fix” Social Security is by taxing the rich, specifically by increasing or eliminating the limit on wages subject to the Social Security payroll tax.[1] Despite the populist appeal of…
Download the pdf: History and Future of the Social Security Trust Fund_ Part II Read Part I Read Part III Introduction Part II of this issue brief series explains how changes to the…
Introduction Earlier this month the Department of Education proposed new regulations to allow more students to avoid repaying the money they borrowed to attend college.[1] These regulations would effectively turn the student loan program into a federal grant for many…