Congress

The Debt Limit: Here We Go Again

In less than a month—and in perhaps as little as 18 days-- the federal government will be unable to pay its bills. Realistically, there is only one way to avoid such a fiscal mess: Congress must raise the federal debt limit so Treasury can borrow more money. But how will that happen? On one hand,

October 15, 2015Howard Gleckman

Federal Budget and Economy: TaxVox

Why Dump the Cadillac Tax?

Economists love the Affordable Care Act’s Cadillac tax, the excise tax on high-cost employer sponsored health insurance plans. Well, maybe not love. But they do like it a lot . In contrast, unions, Republicans, and even Hillary Clinton want to dump the tax . Why? Pretty much for the same reason

October 8, 2015Howard Gleckman

Federal Budget and Economy: TaxVox

Five Tax Stories To Watch in What Will Be a Wild Fall in Congress and on the Campaign Trail

Congress is back. Fiscal deadlines loom. Presidential candidates have tax plans to propose. It isn’t clear how much lawmakers will accomplish in the next four months, but it will be a busy and interesting fall. Here are five stories to watch: International Tax Reform : House Republicans insist they

September 8, 2015Howard Gleckman

Federal Budget and Economy: TaxVox

How Will Congress Fund Roads and Transit?

In 24 days, federal spending authority under the highway trust fund comes to an end. Without legislation to keep the program going and money to finance it, road projects will slow in the midst of high construction season. And where are Congress and the White House on this perennial issue? Nowhere.

July 7, 2015Howard Gleckman

State and Local Issues: TaxVox

While Washington’s Efforts to Fund Roads Go Nowhere, Red States Are Raising Gas Taxes

In about six weeks, federal money to keep the Highway Trust Fund going will once again dry up and Congress will begin its predictable scramble to keep cash flowing to roads, bridges, and transit projects. The reason for the gridlock: Neither Congress nor President Obama is willing to back a gas tax

June 10, 2015Howard Gleckman

Federal Budget and Economy: TaxVox

Obama-Era Tax Reform: RIP

If you still thought there was any chance Congress would pass tax reform before the next election, you can officially abandon hope. In an online interview published Sunday on Morning Consult , Senate Majority Leader Mitch McConnell (R-KY) hammered the last nail in the coffin. Asked about his

June 8, 2015Howard Gleckman

Federal Budget and Economy: TaxVox

Congress Has Not Passed A 2016 Budget. It Has Only Begun The Process.

Headline in this morning’s Washington Post : “In a Slog Forward, Congress Passes Budget.” I’ll leave it to others to parse what a slog forward is, but rest assured Congress has not passed a budget. Congressional Republicans, with no support from Democrats, have approved a budget resolution. But

May 7, 2015Howard Gleckman

Federal Budget and Economy: TaxVox

Is a Consumption Tax Talk Making a Comeback?

Maybe it’s just because Congress is on spring break and tax wonks don’t have much to talk about, but suddenly the idea of a consumption tax is getting a new look. The tax plan proposed earlier this month by senators Mike Lee (R-UT) and Marco Rubio (R-FL) is one form of the levy. And tax journalists

March 31, 2015Howard Gleckman

Federal Budget and Economy: TaxVox

The Medicare “Doc Fix” That Isn’t

As you listen to House Democrats and Republicans sing kumbaya over their bipartisan agreement to fix the Medicare physician payment syste m, keep one thing in mind: The doc fix doesn’t fix much, and what it does repair likely will add hundreds of billions of dollars to the debt in coming years. The

March 26, 2015Howard Gleckman

Individual Taxes: TaxVox

Dynamic Scoring Forum: Inside the Black Box

This is one of a series of TaxVox guest blogs discussing dynamic scoring . Whether dynamic scoring for official revenue estimates is a good or bad idea, it is now a part of scoring rules in the House. As a result, it is more compelling than ever to understand the forces that determine economic

March 17, 2015Jane Gravelle