Congress will take up the 2018 budget next week, belatedly beginning work on a blueprint for the country’s borrowing and spending over the next decade, with a laser focus on tax cuts.
Robert Bixby, executive director of the Concord Coalition, a group that tries to advocate for middle-ground approaches to tackling the debt, said more revenue can be a part of the conversation — but the money needs to be dedicated to paying down the debt, not to expanding spending.
He said Congress will have a chance to sweat out more money in the looming debate over tax reform, which Republicans want to make the focus for the rest of this year.
“Myself and others on the debt reduction side would say that we should use some of the added revenue for deficit reduction, and you get others who would say, ‘No, no, it should all go into lower rates,’” Mr. Bixby said. “That’s a fine debate to have, but we ought to be at least enacting the reforms.”