The 2017 Trump Tax Law Was Skewed to the Rich, Expensive, and …
Jun 13, 2024 · To comply with congressional budget rules, Republicans could not make all of the 2017 law’s tax cuts permanent, so they prioritized making the less-popular corporate tax changes permanent to avoid having to debate those cuts when the other provisions expired.
House Republican Bills Deeply Cut Programs That Help Low …
Nov 22, 2024 · Given the erosion of non-defense appropriations’ purchasing power, there’s a strong case for policymakers to not only reject the cuts proposed by the House but to increase 2025 appropriations by more than the 1 percent target set in last year’s negotiation. A 1 percent increase won’t even keep up with rising costs let alone …
House Republican Agendas and Project 2025 Would Increase …
Sep 3, 2024 · Medicaid Cuts Would Take Away Health Coverage From Millions of People. As noted, HBC would cut Medicaid by $2.2 trillion over ten years; [14] RSC would cut Medicaid, CHIP, and ACA marketplace assistance by $4.5 trillion, likely by cutting Medicaid even more deeply than the HBC proposals and by making cuts to marketplace policies described below. [15] The size of the cuts in Project 2025 is ...
Chart Book: Tracking the Recovery From the Pandemic Recession
Apr 3, 2024 · Relief Legislation, Better Virus Control Key to Solid Jobs Recovery. Total nonfarm employment fell by 1.4 million jobs in March 2020 and a staggering 20.5 million jobs in April, creating a 22 million jobs deficit since the start of the recession and largely erasing the gains from a decade of job growth.
A Closer Look at Who Benefits from SNAP: State-by-State Fact …
Feb 13, 2023 · The Supplemental Nutrition Assistance Program (SNAP, formerly known as food stamps) is the nation’s most important anti-hunger program, reaching 38 million people nationwide in 2019 alone. These...
Policy Basics: Deficits, Debt, and Interest
Nov 20, 2024 · Deficits (or surpluses), debt, and interest are three central budget concepts. For any given year, the federal budget deficit is the amount of money the federal government spends minus the amount of revenue it takes in. The deficit drives the amount of money the government must borrow in any single year, while the debt is the cumulative amount of money the government has borrowed throughout ...
Hitting the Debt Limit: 3 Things to Know
Dec 17, 2024 · Raising or suspending the debt limit does not authorize new spending or tax cuts; it merely acknowledges past budgetary decisions. On January 1, 2025, the federal government will reach the debt limit, the maximum amount it is allowed to borrow.
Policy Basics: Introduction to the Federal Budget Process
Oct 28, 2024 · Summary. Each year’s budget process in Congress requires, at a minimum, enactment of appropriations covering all discretionary programs. Congress is also likely to pass legislation affecting some mandatory spending, to renew programs if funding is expiring or to change eligibility, benefits, or funding, or to create new programs.
Addressing the Affordable Housing Crisis Requires Expanding …
Oct 27, 2022 · Closing the housing affordability gap will require a comprehensive housing strategy, including developing new units, preserving existing affordable housing, and expanding rental assistance. Expanding the Housing Choice Voucher program would most immediately help renters absorb cost increases.
Policy Basics: Where Do Our Federal Tax Dollars Go?
Jul 18, 2024 · Economic security programs: About 8 percent (or $545 billion) of the 2023 federal budget supported programs that provide aid (other than health insurance or Social Security benefits) to individuals and families facing hardship.Economic security programs include: the refundable portions of the Earned Income Tax Credit and Child Tax Credit, which assist low- and moderate-income working families ...