Concord Coalition Executive Director, Robert Bixby, and Chief Economist, Diane Lim Rogers, discuss the tax reforms contained in the budget proposal written by Paul Ryan and House Republicans. The proposal purports to eliminate many tax deductions and loopholes, sometimes called "tax entitlements," in line with the suggestions of the many recent deficit redcution commissions and responsible tax policy. However, the budget uses all of the new revenue to lower tax rates. This places the entire burden of deficit reduction on dramatic spending cuts, while still leaving debt levels higher than they are today.
Examining the Tax Proposals in the House Republican Budget Proposal