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Issue Briefs

‘Dynamic Scoring’ Likely to Add Uncertainty to Budget Process

Jan 6, 2015
The House of Representatives is expected to approve a new rule requiring the Congressional Budget Office (CBO) and the Joint Committee on Taxation (JCT) to incorporate the estimated macroeconomic effects of major legislation into their official scores. This process, often…
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Issue Briefs

This Year’s Campaigns Largely Overlooked Fiscal Issues

Nov 3, 2014
The next Congress will face difficult budget issues, ranging from the pending insolvency of the trust fund for Social Security disability insurance to proposals to overhaul the inefficient tax code. Yet many candidates for federal office this year -- Democrats, Republicans, incumbents…
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Issue Briefs

Fiscal, Monetary Policy ‘Working in Opposite Directions’

Jan 14, 2014
Although Federal Reserve officials generally have their hands full with monetary policy, congressional mistakes and miscalculations on the federal budget have led outgoing Federal Reserve Chairman Ben Bernanke to repeatedly offer suggestions on fiscal policy that lawmakers would do well…
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Issue Briefs

No Extension for ‘Tax Extenders’ This Year

Dec 16, 2013
In a change of pace from its usual practice, Congress is allowing a group of temporary tax provisions known as “extenders” to expire at the end of the year.The extenders, like other tax expenditures, are federal subsidies that encourage certain…
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Issue Briefs

The Budget Conference: Low Expectations But Great Opportunities

Oct 30, 2013
Given the acrimonious political environment and the wide discrepancy between the House and Senate budgets, the conference committee now scheduled to report by Dec.13 begins its work with low expectations. However, if the committee approaches its task with flexibility and…
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Issue Briefs

Congress Needs to Pursue ‘Regular Order’ on Budget Plans

Apr 24, 2013
The hope for "regular order" on a budget resolution stalled this week as unfortunate partisan bickering continued over whether lawmakers should proceed with a House and Senate conference committee. Republicans on Tuesday blocked an attempt by Senate Majority Leader Harry…
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Issue Briefs

CBO’s Budget and Economic Outlook: Why the Good News Is Not Good Enough

Feb 20, 2013
I. Introduction The annual Budget and Economic Outlook released on Feb. 5 by the Congressional Budget Office (CBO) contained some good news. The deficit is coming down. The debt is relatively stable over the coming 10 years. Revenues are going…
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Issue Briefs

It’s Time To Raise and Reform the Statutory Debt Limit

Jan 14, 2013
I. Introduction Federal borrowing is once again near the statutory debt limit. At the end of last year, Secretary of the Treasury Timothy Geithner notified Congress that the $16.394 trillion limit had been reached and that his department would begin…
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Issue Briefs

The Highway Bill: Guideposts for Policymakers

Mar 20, 2012
Over the past several weeks, there has been a flurry of activity on Capitol Hill as Congress considers legislation to reauthorize federal surface transportation programs. The previous authorization bill was enacted in 2005 and expired in 2009. Since then, Congress…
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Issue Briefs

In Payroll Tax Cut Extension, Political Convenience Wins Again

Feb 17, 2012
While elected officials are celebrating an agreement to extend the payroll tax cut, unemployment benefits and the “doc fix” on Medicare reimbursements through the end of this year, there would be much more to celebrate if the deal had included…
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Issue Briefs

Super Committee Gave Up But Congress Can’t

Nov 22, 2011
Many people were urging members of the deficit reduction super committee to “go big.” Now it appears that they will just go away. It’s yet another disappointment in a year that has seen many failed attempts at a “grand bargain”…
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Issue Briefs

Former Lawmakers Encourage ‘Gang of Six’

May 17, 2011
Efforts by the bipartisan “Gang of Six” in the Senate to forge a comprehensive budget deal have received vigorous support from members of The Concord Coalition's Board of Directors who have previously served in Congress.“The cooperative approach taken by the…
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