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.

Debt Clock
Dec 13, 2017 | Budget Process

With Debt Limit Reinstated, It's Time for Reform

As lawmakers go to conference for the tax bill, an important issue has flown under the radar. The debt limit was reinstated on December 9 after the...
Maya MacGuineas
Dec 12, 2017 | Budgets & Projections

Maya MacGuineas: An Opportunity to Improve the Tax Bill While Replacing the PAYGO Sequester

Maya MacGuineas is president of the nonpartisan Committee for a Responsible Federal Budget and head of the Campaign to Fix the Debt. She recently...
Dec 12, 2017 | Taxes

Resources for Tax Reform

Efforts to reform the tax code are underway, and the legislative process is in full swing. CRFB has been tracking and compiling the scores of each...
Concept_Men Analyzing
Dec 12, 2017 | Taxes

JCT's Latest Analysis Confirms Tax Bills Will Produce Modest Growth, Won't Pay For Themselves

The Joint Committee on Taxation (JCT) released its dynamic analysis of the House's version of the Tax Cuts and Jobs Act (TCJA) yesterday. JCT's...
Dec 11, 2017 | Other Spending

Policymakers Should Reform Student Loan Programs

Lawmakers will need offsets to keep year-end legislation from substantially worsening the debt, and one area we've suggested in our Mini-Bargain and...
Concept_Budget Deal
Dec 11, 2017 | Other Spending

Discretionary Cap Deal Could Cost Over $100 Billion Per Year

Lawmakers are reportedly considering a year-end deal to repeal the sequester and increase discretionary spending potentially as much as $230 billion...
Concept_DC_Capitol Building
Dec 8, 2017 | Other Spending

Appropriations Watch: FY 2018

Last updated 12/8/2017. The House (by a 235-193 vote) and Senate (by an 81-14 vote) passed a continuing resolution this week which funds...
Dec 8, 2017 | Taxes

The Tax Bill Conference Committee Can Make The Final Bill Responsible

Both the House and Senate versions of the Tax Cuts and Jobs Act (TCJA) as currently written would cost nearly $1.5 trillion on a conventional basis...
Concept_DC_Capitol Building Winter
Dec 5, 2017 | Taxes

Comparing the Two Versions of the Tax Cuts and Jobs Act Headed to Conference

The House and Senate have each passed their own version of the Tax Cuts and Jobs Act, and lawmakers from each chamber will have to iron out the...
Dec 5, 2017 | Taxes

Senate Tax Bill Could Ultimately Cost Up to $2 Trillion

The final Senate version of the Tax Cuts and Jobs Act (TCJA) would cost $1.45 trillion under conventional scoring and over $1 trillion on a dynamic...
Dec 1, 2017 | Taxes

No Estimate Shows Tax Bills Would Pay For Themselves

The Joint Committee on Taxation (JCT) released an official dynamic estimate of the Tax Cuts and Jobs Act (TCJA) yesterday as reported by the Senate...
Nov 30, 2017 | Taxes| Economics

Official Dynamic Score Shows Senate Tax Bill Will Still Cost Over $1 Trillion

The Joint Committee on Taxation (JCT) has released its official dynamic score of the Senate tax plan as passed by the Senate Finance Committee,...

December Legislation Could Bring Back Trillion-Dollar Deficits

Congress has a lot on its plate this holiday season. Sadly, they seem far more focused on legislation to increase our post-war record-high national...
Taxes_1040 Form
Nov 29, 2017 | Taxes

Five Ways to Improve the Senate Tax Bill

The current Senate version of the Tax Cuts and Jobs Act (TCJA) would add too much to the debt, but several improvements could make the bill both more...
Nov 29, 2017 | Budgets & Projections

Alan Simpson and Erskine Bowles: A Moment of Truth for our Country’s Financial Future

Alan Simpson is a former Republican senator from Wyoming. Erskine Bowles served as chief of staff to President Bill Clinton from 1997 to 1998. They...
Nov 20, 2017 | Taxes

Tax Policy Center Dynamically Scores House Tax Bill

The Tax Policy Center (TPC) today released a new dynamic analysis of the House-passed Tax Cuts and Jobs Act (TCJA), adding more proof that tax cuts...
Nov 20, 2017 | Economics

Gene Steuerle: A Debt Straightjacket or a Misdiagnosed Disease?

Dr. Eugene (Gene) Steuerle is the Richard B. Fisher chair and Institute Fellow at the Urban Institute and a member of the Committee for a Responsible...
Nov 17, 2017 | Taxes

Comparing the Latest House and Senate Tax Bills by Provision

In broad fiscal terms, the House and Senate tax bills are very similar. Both plans would cost more than $1.4 trillion over ten years on paper while...
Leon Panetta
Nov 17, 2017 | Other Spending| Taxes

Leon Panetta: Blowing Up the Debt is a Threat to America

Leon Panetta is a co-chair of the nonpartisan Committee for a Responsible Federal Budget. He recently wrote an opinion piece for USA Today. It...
Nov 16, 2017 | Taxes| Economics

Dynamic Scoring Confirms: House or Senate Tax Bills Would Still Add to Debt

As more dynamic estimates of the Tax Cuts and Jobs Act (TCJA) are released, they all confirm that tax cuts do not pay for themselves. Because both...