Committee for a Responsible Federal Budget
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Welcome to our blog – The Bottom Line, where you’ll find up-to-date commentary and analysis on the most important news in the fiscal world. Below is a list of our blog posts.

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Several Amendments Would Improve the Senate Budget

The Senate is considering the FY 2018 Senate budget resolution this week. As is, the budget would facilitate legislation to add significantly to debt...
Oct 18, 2017 | Budget Process

How PAYGO Rules Could Affect Tax Reform

Most of the discussion about rules that could prevent tax reform from increasing the deficit has focused on the Byrd Rule. Congress could get around...
Oct 13, 2017 | Taxes

Options to Help Pay for the Big Six Tax Reform Framework

The unified framework for tax reform released by the White House and GOP Congressional leaders includes several provisions that could result in about...
William Hoagland
Oct 12, 2017 | Budget Process

Bill Hoagland: A Disappearing Budget Process Unhelpful for Fiscal Responsibility

G. William Hoagland is Senior Vice President at the Bipartisan Policy Center and member of the Committee for a Responsible Federal Budget. He...
Donald Trump
Oct 12, 2017 | Economics

Have Stock Market Gains Reduced the National Debt?

On Fox News last night, President Trump claimed the growth in the stock market has reduced the national debt. It has not. The two measures are not...
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Oct 11, 2017 | Taxes

The State and Local Tax Deduction Should Be on the Table

As tax reform gets underway, there will be disagreement about which tax breaks should be eliminated or reformed and which should remain. There is a...
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Oct 6, 2017 | Taxes

Does the State & Local Tax Deduction Mostly Help High-Income Households?

At a press briefing yesterday, White House Press Secretary Sarah Huckabee Sanders defended the fact that the Big 6 tax plan removes the state and...
Oct 5, 2017

Remembering Bill Frenzel

At our annual dinner on September 12, the Committee for a Responsible Federal Budget paid tribute to former Co-Chair William Eldridge “Bill” Frenzel...
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Oct 5, 2017 | Budgets & Projections

Marking Up the FY 2018 Senate Budget

The Senate Budget Committee is scheduled to mark up its Fiscal Year (FY) 2018 budget resolution, which would create a legislative vehicle for tax...
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Oct 4, 2017 | Taxes

Paying for Tax Reform Event on Capitol Hill

Today the Committee for a Responsible Federal Budget hosted an event on Capitol Hill focused on the prospects for tax reform. The event featured...
Oct 3, 2017 | Taxes

What Is a Reasonable Amount of Dynamic Revenue For Tax Reform?

Thoughtful tax reform has the potential to increase the size of the economy, lifting wages and incomes while also generating more tax revenue for the...
Oct 2, 2017 | Budgets & Projections

Seven Resolutions for the Fiscal New Year

October 1 marked the start of Fiscal Year (FY) 2018. While FY 2017 saw very little major legislation passed, a new year brings new opportunities...
Sep 29, 2017 | Budgets & Projections

Senate Budget Committee Releases FY 2018 Budget

Senate Budget Committee Chairman Mike Enzi (R-WY) released the Fiscal Year (FY) 2018 Senate budget resolution today. The budget proposes $3.3...
Sep 29, 2017 | Budgets & Projections

How the House and Senate Budgets Stack Up

With the release of the Senate budget resolution, we now have the two Congressional budgets that will set up the budget process for the rest of the...
Sep 27, 2017 | Taxes

Big 6 Tax Framework Could Cost $2.2 Trillion

The so-called "Big 6" today released their framework for comprehensive tax reform. While significant detail still needs to be filled in, enough...
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Sep 26, 2017 | Taxes

Maya MacGuineas: Congress, Dump the Budget Gimmicks – We Need Real Reform

Maya MacGuineas is president of the nonpartisan Committee for a Responsible Federal Budget and head of the Campaign to Fix the Debt. She recently...
Maya MacGuineas
Sep 26, 2017 | Budgets & Projections

Maya MacGuineas: Missed Opportunity to Use Health Care, Tax Policies to Stop Debt Growth

Maya MacGuineas is president of the nonpartisan Committee for a Responsible Federal Budget and head of the Campaign to Fix the Debt. She recently...
Sep 25, 2017 | Taxes

The Feldstein-Feenberg-MacGuineas Cap Could Be Useful for Tax Reform

As lawmakers gear up for tax reform, they will need options to broaden the tax base and ensure that tax reform doesn’t add to debt. The traditional...
Sep 25, 2017 | Budgets & Projections

Comparing the Reconciliation Instructions in the Congressional Budgets

With news that the Senate Budget Committee has agreed to reconciliation instructions for a $1.5 trillion tax cut, policymakers seem poised to...
Sep 22, 2017 | Taxes

Debt Would Equal the Economy in 2028 With Senate Tax Cut

It has been reported that Senate Budget Committee has agreed to include reconciliation instructions allowing a tax cut of $1.5 trillion in the Senate...