Through the end of 2026, there may be significant pressure on lawmakers to pass a litany of different priorities to “clear ...

Tim Penny is a former Congressman from Minnesota and a Co-Chair of the Committee for a Responsible Federal Budget.

Press reports have called the midterm elections, resulting in new majority control of the House and Senate in the 120th Congress.

The budget deficit fell by half between Fiscal Year (FY) 2021 and FY 2022, from $2.8 trillion to $1.4 trillion. While the Biden Administration has tried to take credit for this "historic deficit ...

The US Department of the Treasury released its final Monthly Treasury Statement for Fiscal Year (FY) 2022, showing a $1.4 trillion deficit for the year. The actual FY 2022 deficit is $339 billion ...

The House of Representatives will soon consider a budget resolution for Fiscal Year (FY) 2025, which was reported favorably out of the House Budget Committee on February 13. The budget’s ...

Today, the White House announced an indefinite pause of the collection of defaulted federal student loan debt, including through the Treasury Offset Program, which applies any tax refunds towards a ...

In the first seven months of Fiscal Year (FY) 2024, spending on net interest has reached $514 billion, surpassing spending on both national defense ($498 billion) and Medicare ($465 billion). Overall ...

Interest on the debt is the fastest growing part of the budget. Net interest payments will exceed both defense and Medicare spending this year, in Fiscal Year (FY) 2024, according to new projections ...

According to press reports, policymakers are considering changes to the $10,000 state and local tax (SALT) deduction cap as part of their efforts to extend the expiring parts of the Tax Cuts and Jobs ...

The significant adjustment to CBO’s tariff projections is mostly due to changes in methodology. Specifically, CBO states that roughly two-thirds of the downward revisions since August are from ...