Blogs

The House recently passed a short-sighted measure that would cut the 2015 enforcement budget for the Internal Revenue Service (IRS) by 25 percent.Republicans say they are punishing the IRS for its poor response to recent scandals. But this would amount…

A Federal Reserve economist says her research supports theories that suggest intense political partisanship can lead to higher federal deficits as well as weaker economic growth.Marina Azzimonti, an economist at the Federal Reserve Bank of Philadelphia, searched newspapers between 1891…

Wednesday was the 40th anniversary of the Congressional Budget and Impoundment Control Act, the law that created the Congressional Budget Office (CBO) and the modern budget process.The Bipartisan Policy Center marked the occasion last week with two panel discussions featuring…

The Senate Appropriations Committee approved a $549 billion defense bill last week that leaves out many of the savings proposed by military leaders.The bill, for example, would preserve weapons systems the Pentagon has not requested or wants to retire, including…

Despite a strengthening economy, the administration’s Mid-Session Review budget projections show little change in the overall fiscal outlook.The report, released Friday, anticipates a deficit for the current fiscal year of $583 billion, down $66 billion from the administration’s March projection.…

Former Housing and Urban Development Secretary Shaun Donovan takes over as President Obama's fourth budget director after the Senate's 75-22 confirmation vote last week.Donovan replaces Sylvia Matthews Burwell, who was recently confirmed as Secretary of Health and Human Services.As head…

The House Ways and Means Committee and Senate Finance Committee approved similar plans last Thursday to transfer $10 billion in general revenues to the Highway Trust Fund.Unfortunately, both plans rely on “pension smoothing,” a gimmick that was used in the…

Lawmakers must carefully review President Obama’s request for “emergency” funding this year to fight wildfires, increase border security and deal with a surge of migrants from Central America.The President has asked for $3.7 billion to improve border security while addressing…