Committee for a Responsible Federal Budget5h
Interest on the Debt to Grow Past $1 Trillion Next Year
The Congressional Budget Office’s (CBO) latest budget and economic outlook includes a troubling projection for net inte ...
Committee for a Responsible Federal Budget1d
Pell Grant Program Is In Serious Trouble
The Pell Grants program is now expected to run out of reserves by the end of this year and is expected to face a $71 billion ...
Committee for a Responsible Federal Budget1d
Interest Costs Would Explode with $5.5 Trillion Reconciliation Package
This higher debt would also further explode interest payments. Already, interest costs have exceeded spending on Medicare and ...
Committee for a Responsible Federal Budget2d
Debt-to-GDP Growth Could Double with a $5.5 Trillion Bill
According to press reports, House lawmakers were recently considering a budget resolution with reconciliation instructions to ...
Committee for a Responsible Federal Budget2d
How Much Revenue Will Trump's Tariffs Raise?
President Trump's tariffs include a 10 percent additional tariff on all imports from China that went into effect on February 4. We estimate that this tariff will raise $20 billion in revenue through ...
Committee for a Responsible Federal Budget2d
2025 Reconciliation Resources
In order for the reconciliation process to begin, the House and Senate must pass a concurrent budget resolution that includes a deficit reduction or cost target for relevant committees. Each committee ...
Committee for a Responsible Federal Budget6d
Reconciliation Should Indeed Reduce Budget Deficits
The Republican Study Committee (RSC) Steering Committee released their position calling for deficit reduction in the upcoming budget reconciliation process, writing “Reconciliation legislation must ...
Committee for a Responsible Federal Budget8d
Weakening the SALT Cap is Costly, Benefits High-Earners, & Increases Tax Complexity
The Tax Policy Center (TPC) recently published analyses of several options to raise the $10,000 State and Local Tax (SALT) ...
Committee for a Responsible Federal Budget8d
Meeting Fiscal Goals Under CBO’s January 2025 Baseline
Stabilizing debt over the next decade at its current share of the economy would require $9.0 trillion of deficit reduction relative to the Congressional Budget Office’s (CBO) ...