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Rep. John Delaney (D-Md.) and Tom Cole (R-Okla.) have introduced a bill that would create a commission tasked with restoring the 75-year solvency of Social Security.The bill would require the leaders of both parties in both chambers of Congress to…


The Milliman Medical Index shows the average employer-sponsored health care plan for a family of four cost $23,215 this year, a 5.4 percent jump from 2013.While this far exceeds the general rate of inflation, it is the smallest increase since…


The IRS recently estimated that 318,000 federal workers and retirees owe the government more than $3.3 billion in back taxes. That includes hundreds who work for Congress or in the federal courts, and 36 who work at the White House…


President Obama has nominated Shaun Donovan, secretary of Housing and Urban Development (HUD) since 2009, to become his new budget director.Donovan will replace Sylvia Mathews Burwell, who became Obama’s budget director a little over a year ago but has been…


Although Congress has set a general course for reduced military spending in the years ahead, in May lawmakers in both parties again rejected specific cost-saving measures proposed by the administration and the Pentagon.Late in the month, the House approved a…


Between 2012 and 2050, America’s 65-and-older population will almost double in size to 83.7 million, according to new Census Bureau projections.The bureau recently released two reports -- one on the aging population and another focusing on the Baby Boom --…


Congressional gridlock has produced a rare positive result: Senate Republicans blocked a vote on irresponsible legislation that would have renewed dozens of expired tax expenditures without paying for them.After a Senate vote failed to move the bill forward last week,…


Politicians and policy experts from across the political spectrum agreed on one thing at a “Fiscal Summit” last Wednesday: Despite the falling deficit, our fundamental fiscal challenges have not yet been adequately addressed.The fifth annual summit held in Washington by…


Congress may have lost interest this year in dealing with the nation’s long-term fiscal challenges, but an updated online game gives average citizens the chance to put together their own federal deficit-reduction plans.The Federal Budget Challenge lets players weigh some…


Janet Yellen, who took over as Federal Reserve chair in February, continues to call for a smooth transition to more sustainable fiscal policies on Capitol Hill.In testimony to two congressional committees last week, she said that “having a long-run sustainable…


The House voted 274-131 earlier this month to make the Research and Development Tax Credit permanent without offsetting the cost. The vote was the first to renew one of the expired tax provisions known as “extenders.”Making this tax credit permanent…


The Highway Trust Fund is projected to run a $164 billion shortfall over the next 10 years unless lawmakers take action, according to the Congressional Budget Office (CBO).The trust fund consists of two accounts: one for highway work, which receives…

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