The TGA functions as Treasury’s primary checking account and is held at the Federal Reserve Bank of New York. At the end of ...
At the end of 2025, Congress let the Work Opportunity Tax Credit (WOTC) lapse, and rightly so. I argued on three separate ...
The economists who dismissed fiscal restraint in the 2010s overlooked something important. France is now paying the price. Well, well, well. Paul Krugman has discovered that France has a debt problem.
State governments today operate within a fiscal environment that is increasingly shaped by decisions made in Washington. While the traditional conception of American federalism emphasizes a clear ...
The United States has a rare earth problem, but it is not the problem Washington is trying to solve (see this and this). The debate in Congress has centered on supply and on the fact that China ...
Last week, billionaire and Democratic candidate for Governor of California, Tom Steyer posted the following on X: “For decades, the top tax rate on the wealthiest Americans — like @JeffBezos — was ...
Under current law, the Tax Cuts and Jobs Act (TCJA) provisions affecting individuals and small businesses will expire after 2025. Meanwhile, the Congressional Budget Office (CBO) projects that debt ...
One of the most common claims in debates over Social Security is that the program’s financing problems could be solved simply by eliminating the payroll tax cap and applying Social Security taxes to ...
Last year I published a post titled “What Drives Our Long-Term Budget Deficit?” in which I estimated that 71% percent of the FY2025 budget deficit was the result of spending policy decisions, and 29% ...
California says its new billionaire tax is about billionaires. But buried in the text of a proposed constitutional amendment is something far more consequential: a tax structure that could make it ...
Last week, Thomas Piketty and 45 co-authors at the World Inequality Lab released what they call the Global Justice Report. Piketty summed up the main findings and demands in the plan on X. It’s a ...
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