Committee for a Responsible Federal Budget

Tax Reform Options for Nonprofit Hospitals

About half of all U.S. hospitals are designated as “charitable” nonprofit institutions by the Internal Revenue Service (IRS).
Committee for a Responsible Federal Budget

Weakening the SALT Cap is Costly, Benefits High-Earners, & Increases Tax Complexity

The Tax Policy Center (TPC) recently published analyses of several options to raise the $10,000 State and Local Tax (SALT) deduction cap, which is set to expire at the end of 2025 but could be part of ...
Committee for a Responsible Federal Budget

CBO Outlines Negative Implications of High & Rising National Debt

In its June 2023 Long-Term Budget Outlook, the Congressional Budget Office (CBO) dedicated an entire section to discussing the risks and threats of high and rising federal debt and deficits. CBO’s ...
Committee for a Responsible Federal Budget

What Would It Take to Balance the Budget?

We have published an updated analysis "What Would It Take to Balance the Budget? An Update" to account for the Congressional Budget Office's latest ten-year budget projections. Balancing the budget ...
Committee for a Responsible Federal Budget

Interest Costs Have Nearly Tripled Since 2020

The recent release of the final Monthly Treasury Statement from the Treasury Department shows that net interest costs totaled $882 billion in Fiscal Year (FY) 2024. The Monthly Treasury Statement ...
Committee for a Responsible Federal Budget

The COVID-19 Recession Is Unfolding Faster than the Great Recession – and So Is the Response

We have published an abbreviated update of this analysis, incorporating additional legislation, updated cost estimates, and new economic projections. We now find the COVID-19 response to be larger ...
Committee for a Responsible Federal Budget

Interest, Social Security, and Health Responsible for Nearly 90% of Spending Growth

In the latest Congressional Budget Office (CBO) baseline, nominal spending is projected to grow from $6.8 trillion in Fiscal Year (FY) 2024 to $10.3 trillion in 2034. About 87 percent of this increase ...
Committee for a Responsible Federal Budget

What Would It Take to Balance the Budget? An Update

The analysis below updates our previous analysis "What Would It Take to Balance the Budget?" to account for the Congressional Budget Office's latest ten-year budget projections. Balancing the budget ...
Committee for a Responsible Federal Budget

How Does COVID Relief Compare to Great Recession Stimulus?

We have published an abbreviated update of this analysis, incorporating additional legislation. We now find the COVID-19 response to be larger than the response to the Great Recession as a percentage ...
Committee for a Responsible Federal Budget

Bipartisan, Bicameral Support for a Fiscal Commission

Senators John Curtis (R-UT) and Angus King (I-ME) recently introduced the Fiscal Commission Act, a bipartisan bill that would establish a fiscal commission to address the nation’s increasingly ...
Committee for a Responsible Federal Budget

CMS Final Rule Closes Medicaid Loophole

The Centers for Medicare & Medicaid Services (CMS) finalized a Medicaid rule, last week, which closes an especially egregious loophole that allowed states to extract additional federal funding through ...
Committee for a Responsible Federal Budget

How Would Higher Interest Rates Affect Interest Payments?

Interest on the national debt is projected to be the fastest growing part of the federal budget. We estimate, based on the Congressional Budget Office's (CBO) July 2021 economic forecast, the federal ...