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Budget

  • A Solid Choice for CBO Director

    With their selection of Keith Hall to direct the Congressional Budget Office (CBO), the incoming chairs of the House and Senate Budget Committees, Dr. Tom Price and Senator Mike Enzi, have passed an unusually rigorous test. 

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  • Republicans Get a New Power Broker in Washington

    Congressional Republicans have made a wise choice in their new Congressional Budget Office director, Keith Hall.

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  • Mindless Yes, Austerity No: The Real Budget Problem

    As long as spending growth in Social Security, Medicare, Medicaid and the ACA continues unabated, we can expect the share of national resources devoted to other federal government priorities to continue to decline. As former President Clinton might say, “it’s arithmetic.”

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  • Don't Propose on Valentine’s Day

    With Valentine’s Day fast approaching, many lovers are undoubtedly contemplating popping the question. But unfortunately, getting married may cost a lot more than people expect due to the structure of government programs. 

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  • Here Are Five Obama Tax Proposals That Make No Sense

    President Obama’s fiscal 2016 budget would raise government revenues as a share of gross domestic product steadily over the next decade, and make the tax code far more complex.

    By now, everyone has heard of the increase in capital-gains tax rates (yielding $208 billion over 10 years), the 19% tax rate on foreign earnings ($206 billion), and limits on individual itemized deductions together with a 30% tax rate for millionaires ($638 billion).

    But what about the tax changes the pundits have overlooked? Here are five little-discussed tax proposals.

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  • What to Watch in the President’s Budget Proposal

    President Obama’s budget proposal, to be released on Monday, confirms that a sweeping, bipartisan compromise to tame exploding federal debt is not on the White House agenda for 2016. The president’s budget consists of a litany of new entitlements and increased spending measures that would be financed through higher taxes. 

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  • Full Expensing Will Create Jobs and Economic Growth

    One of the last votes the Senate made in December before adjourning was to yet again pass a bill of so-called “tax extenders” to renew a long list of temporary tax provisions. While all tax extenders provide an advantage vested interests—rum producers, race horse owners, farmers, small businesses, NASCAR race tracks, etc.—many do so at the disadvantage of others, and should be eliminated. 

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  • Parker Anderson/CC

    Before the Super Bowl this Sunday, one winner is already determined—local New England Patriots fans. NFL owners are professionals at extracting taxpayer money from local fans to fund generous subsidies for their lavish stadiums, and the NFL is tax-exempt. But Patriots owner Robert Kraft took a different, more taxpayer-friendly, approach and arranged 100 percent private funding for the construction and maintenance of Gillette Stadium. In contrast, the public’s share of financing for the Seattle Seahawks’ CenturyLink Field was 64 percent ($300 million). 

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  • How to Fix the $960 Billion Budget Deficit

    The decrease in the federal budget deficit has been touted as an accomplishment by many—most recently by President Obama during his State of the Union Address—but America’s debt situation is far from resolved. The deficit for the 2014 calendar year fell to its lowest level since 2007 due to a $2 billion surplus in December, according to a Department of Treasury report published on January 13th. The government ended 2014 with a total calendar year deficit of $488 billion, $300 billion higher than its 2007 deficit

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  • Obama is Decidedly Unserious With His Tax-Increase Plans

    You have to hand it to President Obama.

    Despite Democrats’ loss of the House of Representatives in 2010 and the U.S. Senate in 2014, as well as the loss of 16 statehouses and 10 governorships since Obama’s election in 2008, he keeps advocating for tax increases.

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