The federal government’s debt burden and interest on the debt are near record levels and headed higher, raising legitimate concerns about an eventual debt crisis. Given the increasingly dysfunctional budget process, the most viable option on the table to stave off such a crisis is a statutory bipartisan fiscal commission with buy-in from leaders of both parties.
6 min read
Rather than continuing the Trump administration’s tariff policy, policymakers should explore new solutions that can raise sustainable revenue with fewer distortions, like replacing the tariffs with a value-added tax.
5 min read
The US federal government faces several fiscal challenges in the coming decades, including the growing burden of federal healthcare programs and tax preferences.
14 min read
At the Republican National Convention in Dallas, President Trump promised payments of $5,000 to every adult citizen in the US if the Republicans maintain control of the House and the Senate in the upcoming midterm elections. Vice President JD Vance later supported the idea, saying that the president’s new tariffs are generating a lot of revenue that can be shared with Americans.
3 min read
Most Americans don’t understand how the tax code works. According to a poll conducted by TaxEDU, a majority of respondents do not have a basic understanding of common tax concepts.
Revenue-neutral proposals, like many things in politics, have become a relic of the past.