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Senate Democrats last week approved a one-year extension of the Bush-era tax cuts for families with incomes of up to $250,000, rejecting a Republican plan to extend the cuts for higher incomes as well. The Senate defeated the Republican plan…

The administration has updated its economic and budget projections, indicating that this fiscal year’s deficit will be $1.2 trillion, down $116 billion from the administration’s estimate last February. But this drop is based partly on the assumption that some proposed…

The severe fiscal, financial and economic difficulties in Europe underscore the need for Washington to develop credible plans for comprehensive, long-term fiscal reforms -- in part because spillover problems from Europe could well aggravate U.S. budget challenges. But Europe’s experience…

The Congressional Budget Office (CBO) today estimated that repealing the 2010 Affordable Care Act (ACA) would increase federal budget deficits between next year and 2022 by around $109 billion, only a small change from previous estimates. The CBO suggests that…

The "Campaign to Fix the Debt" was officially launched last week in Washington with the goal of pushing Congress to pass a comprehensive fiscal reform plan no later than July 4, 2013. The non-partisan initiative involves an array of organizations,…

Although true fiscal reform will require changes throughout the federal budget, many elected officials continue to focus on only one slice of it: domestic spending programs for which Congress approves annual funding.But cuts in this domestic “discretionary” spending can’t do…

On Capitol Hill last week, the House continued to make progress on Fiscal Year 2013 appropriations bills as the full House passed the defense bill with a 326-90 vote, and a subcommittee approved the Labor-HHS-Education bill. The defense bill includes…

As Europe’s debt crisis worsens, American officials and analysts have expressed growing concern about the potential damage it could inflict on the United States. Many also wonder what lessons this country can draw from Europe’s difficulties.The Committee for Economic Development…