approved significant spending cuts over the next decade. There are many different options Congress will consider as it tackles the $16 trillion national debt that is inhibiting our nation’s overall economic growth.
Tax policy has emerged as one of the few areas that both political parties agree needs considerable reform. Over the years, the nation’s tax code has become littered with special interest tax breaks known as “tax expenditures.” Lawmakers must address the profusion of specialized tax breaks that cost taxpayers more than $1 trillion in revenue every fiscal year. A simpler, flatter, fairer tax code will better serve taxpayers.Explore the Budget & Tax Program