‘Tax Expenditures’ Should Be Considered Large Spending Programs

Submitted by swinn on Tue, 10/10/2017 - 01:06
The federal tax code is riddled with provisions that either reduce or eliminate tax liabilities for businesses or individuals. These provisions, which include a variety of tax credits and deductions, are often called “tax expenditures.”

Expressions of Concern About the Deficit Are Not Always What They Seem

Submitted by jgordon on Thu, 10/05/2017 - 10:22
Almost every politician at the national level has expressed concern at one point or another about the federal government’s budget deficits. But one clear takeaway from the past 25 years is that these concerns are often situational and quickly abandoned as soon as they become politically inconvenient.

Concord Coalition Gives 2017 Economic Patriot Award to Governors Gina Raimondo and John Kasich

Submitted by swinn on Wed, 10/04/2017 - 13:51

WASHINGTON -- The Concord Coalition announced today that it is honoring two governors known for their success in meeting difficult fiscal challenges -- John R. Kasich of Ohio and Gina M. Raimondo of Rhode Island -- with the 2017 Paul E. Tsongas Economic Patriot Award.

Marking 25 Years of Fighting for Fiscal Reform

Submitted by jgordon on Tue, 10/03/2017 - 09:45

Concord Coalition supporters gathered to celebrate 25 years of fiscal responsibility education and advocacy at the historical Colonial Inn on Sept. 25 in Concord, Mass. At a lunch four speakers discussed Concord’s achievements, lessons learned over the past 25 years, and the fiscal policy challenges facing our nation.

On Taxes, Senators Should Heed Their Own Prior Debt Warnings

Submitted by swinn on Mon, 10/02/2017 - 11:11

The Senate Budget Committee has embraced deficit-financed tax cuts in its proposed budget resolution, showing an unwarranted disregard for the growing national debt that has -- in the past -- drawn so many expressions of alarm from committee members and other lawmakers.

Tax Plan Should Not Increase Debt

Submitted by swinn on Wed, 09/27/2017 - 14:49

WASHINGTON -- The Concord Coalition urges congressional leaders and President Trump to ensure that the proposed tax cuts they unveiled today would not increase the federal debt over the next decade.

The Debt Limit Isn't Working, a More Effective Mechanism to Control Debt Is Needed

Submitted by swinn on Tue, 09/26/2017 - 15:13

With the national debt surging beyond the $20 trillion mark and Congress considering legislation that would produce even higher deficits than are already projected for the coming decade, the federal debt limit is receiving some much-needed scrutiny.

President Trump has suggested doing away with the debt limit, and some lawmakers recently introduced legislation to do so.

Clearly, the federal debt limit isn’t living up to its name, and we should stop pretending that it is.

The Broken Budget Process Should Be Refocused on Long-Term Planning

Submitted by ahunt on Thu, 09/21/2017 - 10:42
The official federal budget process was established in 1974 by the Congressional Budget and Impoundment Control Act. In practice, the process prescribed by the law has never been followed to the letter, and in recent years it’s been abandoned almost entirely. The broken budget process has resulted in policymakers applying quick fixes to avert artificial crises such as government shutdowns instead of making strategic long-term decisions.

Voting on Health Care Bill Without CBO Score is Highly Problematic

Submitted by jgordon on Mon, 09/18/2017 - 20:08

Republican lawmakers are trying to rapidly pass a bill to repeal the Affordable Care Act (ACA) through the Senate prior to the end of the fiscal year (Sept. 30) so that it can still enjoy budget reconciliation protections and avoid a filibuster.

The “Graham-Cassidy” bill would convert the current health care subsidies from the federal government for the ACA and the ACA’s Medicaid expansion into block grants and would require states to create rules for distributing the subsidies.