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Rushed Tax Bill: Gimmicks, More Debt and Flawed Economics

Submitted by jgordon on Mon, 12/18/2017 - 09:18

WASHINGTON --The tax legislation produced by congressional negotiators and scheduled to be voted on this week remains as fiscally irresponsible as the original House and Senate bills, according to The Concord Coalition. This latest bill is based on flawed economics, poor tax policy and a troubling legislative process that has allowed little time for careful analysis.

Everything Needs To Be On the Table in Budget Negotiations

Submitted by jgordon on Mon, 12/11/2017 - 14:38
When it comes to budget negotiations, many interest groups demand that certain items be considered “off the table” and exempt from any changes. The reality, however, is that everything needs to be on the table for both economic and political reasons.

Sequestration Is a Bad Way to Make Budget Cuts

Submitted by jgordon on Thu, 12/07/2017 - 14:52
To reduce budget deficits, policymakers must make politically painful policy changes by raising taxes on constituents and/or reducing spending on services provided to them. Because different tax increases or spending cuts of the same magnitude do not always have the same impact, policymakers should aim to make informed decisions that target these policy changes rationally.

Tax Reform Should Be Fully Paid For -- Without Gimmicks

Submitted by swinn on Thu, 12/07/2017 - 09:35
This op-ed, written by Concord Coalition Co-Chair Bob Kerrey and Alan K. Simpson, co-founder of Fix the Debt, appeared in The Philadelphia Inquirer and on Philly.com. The former senators shared Concord's Economic Patriot Award in 1996.

Congress Continues to Struggle With Overdue Spending Decisions

Submitted by swinn on Tue, 12/05/2017 - 09:56

While still working on tax legislation, Congress now finds itself in an all-too-familiar place: Only days away from a possible government shutdown because spending decisions that should have been made months ago are still up in the air.

Since Fiscal 2018 began Oct. 1, lawmakers have relied on a stop-gap measure (“continuing resolution”) to keep the government open. That measure expires at the end of this week, giving Congress the choice between a partial government shutdown or another continuing resolution that would likely last until later this month.

A Message From George Washington on Debt and Taxes

Submitted by jgordon on Mon, 12/04/2017 - 11:24

Before Congress approves a final package of tax cuts estimated to add more than a trillion dollars to the national debt over 10 years -- in addition to the $10 trillion already projected under current law -- The Concord Coalition urges President Trump and all lawmakers to consider George Washington’s advice on debt and taxes delivered as part of his Farewell Address.

In a passage that could serve today as a principled tweet of moral guidance, Washington warned against “ungenerously throwing upon posterity the burden which we ourselves ought to bear.”