The President's Budget and Tax Plans

Obama Spending Proposal Makes Sense for Short and Long Run

The President’s proposal, in his upcoming fiscal year 2016 budget, to provide partial relief from the Budget Control Act’s (BCA) “sequestration” cuts for 2016 and fully offset it with alternate deficit reduction is consistent with both the BCA and long-term fiscal responsibility.

The proposal would allow modest near-term funding improvements in areas such as science, education, and infrastructure.

And its offsetting deficit-reduction measures would likely improve the longer-term budget outlook.


Greenstein: White House Tax Proposal Will Benefit Economic Growth and Help Millions of Middle- and Lower-Income Families

In recent decades, economic growth has powerfully benefitted Wall Street, while leaving much of Main Street behind. The plan that President Obama unveiled today would take large, important steps to help redress part of the imbalance and make prosperity more broadly shared.

Related: President’s Capital Gains Tax Plan Would Make Tax Code More Efficient and Fair

More: Tax Analyses

Dynamic Scoring

House “Dynamic Scoring” Rule Likely Will Mean More Tax Cuts — Not More Information

House Republicans amended House rules to require the use of “dynamic scoring” for official cost estimates of tax reform and other major legislation.  

Incoming Ways and Means Committee Chairman Paul Ryan has said this change is designed simply to generate more information on the impact of proposed policies. In reality, however, the House would be asking CBO and JCT to provide less information, not more, and the new rule could facilitate congressional passage of tax cuts that are revenue-neutral only on paper. Read more

Related: Brief: Why Budget and Tax Plans Shouldn’t Use Dynamic Scoring

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