Learn more about budget reconciliation and explore our research and analysis of the latest budget reconciliation tax proposals.
Our experts explain what budget reconciliation is, how it works, and the role that politics will play in it for the 119th Congress as well as President Trump‘s policy agenda.
As lawmakers work through the reconciliation process, permanently enacting improvements to deductions for capital investment and research and development (R&D) costs will create an economically powerful package.
7 min read
If lawmakers are serious about pro-growth policies and fiscal responsibility, they will need to put policies forward that achieve those goals. Simply adjusting the baseline doesn’t reduce actual deficits in the coming years.
7 min read
Fiscal pressures are likely to weigh heavily on lawmakers as they craft a tax reform package. That increased pressure could result in well-designed tax reform that prioritizes economic growth, simplicity, and stability, or it could encourage budget gimmicks and economically harmful offsets. Lawmakers should avoid the latter.
8 min read
What happens to your taxes when the Tax Cuts and Jobs Act expires on January 1, 2026? In this episode, we explore the potential tax hikes facing millions of Americans and the debate over measuring the budgetary impacts of extending tax cuts.
Republican policymakers in Congress are considering options to raise revenue as part of their expected legislative package in 2025. One such option involves raising the tax rate on university endowments first put in place as part of the TCJA in 2017.
4 min read
Rohit Kumar, principal and leader of PwC’s Washington National Tax Services Tax Policy Services group in Washington, D.C., joins Tax Foundation President Scott Hodge to discuss the congressional budget reconciliation process: what it is, how it works, and the role that politics will play in it for the 117th Congress as well as President Biden’s policy agenda.
Some federal lawmakers want a longer budget window to keep temporary tax cuts in place longer. However, temporary tax cuts would still have drawbacks and won’t provide the benefits of permanent tax reform.
5 min read