Budget Outlook

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Policy Basics

Long-term deficits and debt will affect the nation’s ability to fund important investments in the future.

We analyze long-term deficit and debt trends to illustrate the challenges we face and highlight potential solutions. We also encourage policymakers to enact measures to strengthen today’s job market as well as measures to reduce longer-term deficits.

Federal Debt Limit’s Harmful, Report Shows

With the federal government on course to hit the legal debt limit this year, a new Government Accountability Office (GAO) study shows that the limit is harmful.  That’s consistent with our view,...

A State-by-State Look at the Estate Tax

House Republicans are expected to bring their proposal to repeal the federal estate tax to a vote in the week of April 13.  Repeal would reduce revenues by $269 billion over the next decade and...

Estate Tax Repeal: A Misguided and Costly Policy

Eliminating the federal estate tax on inherited wealth, which the House Ways and Means Committee approved today and which we’ve explained would increase deficits and inequality, is a misguided —...