#Tax Policy

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In Washington, a new holiday tradition is forming: Congress passing large tax breaks without paying for them. At the end of last year, lawmakers retroactively extended 50 temporary provisions -- known as tax extenders -- for 2014. Now reports indicate…


The House is about to consider a 3-year highway bill financed with revenue unrelated to transportation. But two lawmakers are suggesting alternative plans to address the Highway Trust Fund’s long-term insolvency. Rep. Jim Renacci (R-Ohio) and Rep. Earl Blumenauer (D-Ore.)…


DES MOINES -- Fiscal reform advocate David Walker will speak at a forum tomorrow in Des Moines on the national debt and the need for leadership on federal budget issues by the next president. Walker, former U.S. comptroller general and…


In the latest Fiscal Fridays interview, Republican presidential candidate Lindsey Graham said substantial reforms to the tax code and federal entitlement programs are essential to reducing the federal debt and protecting the nation’s economic future. “The purpose of my presidency…


In a recent Fiscal Fridays interview, Democratic presidential candidate Martin O’Malley proposed higher taxes on high incomes to pay for expanded Social Security benefits and new initiatives in areas such as education, housing and clean energy. The former Maryland governor…


The Republican presidential candidates all say they favor a balanced budget. But Concord Coalition Executive Director Robert L. Bixby notes that over five hours of televised debate earlier this month, not one of the candidates was asked to explain how…


Old habits die hard; for the House Ways and Means Committee, the pesky habit is trying to extend expired tax breaks without paying for them. Last week the committee approved permanently adding several expired breaks to the tax code, which…


It has been easy for advocates of generationally responsible tax and spending policies to look at Capitol Hill with dismay for the past few years. A few consequences of inaction and lack of bipartisanship include: A complete breakdown in the…


There were no big surprises in the latest Long-Term Outlook from the Congressional Budget Office (CBO). No real surprises, either, in this summer’s annual reports from the trustees who oversee Medicare and Social Security. “And that’s the problem,” say John…


Social Security turned 80 on Friday, providing an opportunity to review its accomplishments while taking a hard look at its future -- including the need to put the federal government’s largest program on a sustainable path. With that in mind,…


Like zombies, more than 50 expired tax provisions came back from the dead last week when the Senate Finance Committee voted overwhelmingly to renew them for this year and next -- without paying for them. The Joint Committee on Taxation…


Last year the IRS hung up 544,000 times on taxpayers because the agency could not deal with everyone who needed information -- a practice it bafflingly describes as “courtesy disconnects.” That statistic was troubling enough. But this year the number…

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