New Study Highlights State Budget Problems
When state and local governments run into serious financial problems, they often turn to Washington in search of possible solutions. So with the federal government already on an unsustainable fiscal path, a new report raises troubling questions about many state budget practices around the country.
The report expressed particular concern about “legacy costs,” which include retirement obligations for public employees and retiree health care.
Tax Bills Based on Unsound Economics, Unwise Fiscal Policy
WASHINGTON -- With the House and Senate now considering separate plans to overhaul the tax code, The Concord Coalition urges lawmakers to reconsider their current approaches, notably the idea of deficit-financed tax cuts.
Concord Coalition Celebrates 25th Anniversary With Iowa Trip
On October 10 several members of The Concord Coalition convened in Iowa to host events and meet with stakeholders and media, kicking off the 2020 presidential cycle and celebrating the Concord Coalition's 25th Anniversary. The Concord Coalition has hosted a series of events to mark 25 years of advocating for fiscal reform, including events in Washington, D.C.; Manchester and New London, New Hampshire; Concord, Massachusetts; and Des Moines, Iowa.
West Des Moines Rotary Club
Changes in Borrowing Costs Can Have a Dramatic Impact on the Federal Budget
Concord Coalition Says Tax Plan Is Fiscally Irresponsible
WASHINGTON -- The Concord Coalition warned that the tax plan released today by the House Ways and Means Committee is fiscally irresponsible and would create even higher federal deficits than are already projected for the coming decade.
“True tax reform should aim to grow the economy without growing the debt ” said Robert L. Bixby, Concord’s executive director. “This plan would move U.S. fiscal policy in a dangerous direction, openly inviting higher deficits in the face of unsustainable debt.”
Tax Overhaul Concerns
House Republican leaders are scheduled to unveil specifics of their tax overhaul plan this week, a plan that Republicans hope to push through Congress in a matter of weeks. While the inefficient, overly complex tax code has long needed reform, there are several big concerns about the current effort:
1. Republicans should rethink their plans to increase the federal deficit to finance the tax cuts.
Both Sides Are Guilty of Budget Gimmicks
Congress Moves Budget in Wrong Direction With Deficit-Financed Tax Cuts
WASHINGTON -- The Concord Coalition said today that fiscal policy has taken a very negative turn with adoption of the 2018 congressional budget resolution explicitly calling for deficit-financed tax cuts.
Senate Takes Misguided Approach with Deficit-Financed Tax Cuts
The Concord Coalition said today that the Senate, in adopting a Fiscal Year 2018 budget resolution calling for deficit-financed tax cuts of up to $1.5 trillion over 10 years, has abandoned fiscal responsibility and embraced deepening debt as a misguided economic growth strategy.