Tax Reform

Revenue-Neutral Tax Reform: The Road to Nowhere on Deficit Reduction

Congressional Republicans reportedly may insist upon revenue-neutral tax reform as part of their price for agreeing to raise the debt limit later this year. Such a course, however, would effectively block further progress in reducing long-term deficits.

As a result, its negative effects would likely substantially outweigh any positive economic benefits from tax reform. Read more

Related: Tax Reform Reality Check

 

More: Federal Budget analyses

Impact of Sequestration

Congress Addresses Flight Delays, But Leaves Other Problems Unsolved

Delays in air travel inconvenience travelers and harm the economy. But many other sequestration-related cuts that receive much less attention are far more damaging:

  • So far, roughly 800,000 workers in 19 states have seen their unemployment benefits cut by a little more than 10 percent — or about $120 a month, on average.
  • Already, some Head Start programs are cutting their programs for the current school year — dropping children from the program, ending the school year several weeks early, or cutting services such as bus transportation.
  • Some Meals on Wheels seniors programs in various states are cutting the number of home-delivered meals provided or seniors served.
  • CBPP estimates that 140,000 fewer households will receive vouchers to help them afford decent housing.

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