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  • Economy Still Growing Too Slowly

    The Bureau of Economic Analysis’s (BEA) first estimate of economic growth for the third quarter of this year shows an economy that continues to grow at a plodding pace. According to BEA, the economy grew at 2.8 percent from July 1 through September 30. This was slightly faster than the … More

    Tax Revenue Rose Five Times Faster Than Spending Fell in 2013

    The monthly Treasury statement of the actual budget figures for 2013 this week shows tax revenue rising five times faster than spending fell in 2013. Taxes revenue climbed by 13.2 percent from $2.45 trillion in 2012 to $2.77 trillion in 2013. Spending, on the other hand, fell by only 2.4 … More

    Updated JCT Methodology Will Improve Scoring of Tax Bills

    The Joint Committee on Taxation (JCT) finally updated the antiquated way it analyzes business taxes. The update is an important and long-overdue step that will modernize and vastly improve the way JCT scores bills and aid in the drive for tax reform. JCT plays an integral part in improving policy … More

    CBO Long-Term Budget Outlook Shows Tax Hikes Unnecessary—Again

    The Congressional Budget Office (CBO) released its long-awaited long-term outlook on the budget today. As surely as the sun rises in the east, it shows there is no need to raise taxes. According to the CBO, federal tax revenues will reach 18.5 percent of gross domestic product (GDP) in 2023, … More

    Economic Growth Remains Too Slow Because of Policy Uncertainty

    Today’s report on gross domestic product (GDP) shows that not much changed in the economy during the second quarter. The Bureau of Economic Analysis’s initial estimate shows that economic growth was just 1.7 percent from April 1 through June 30—well below the rate the economy should be growing this far … More

    Obama’s New "Grand Bargain" Is Another Tax Increase

    President Obama gave his second in series of summer speeches on the economy today. Like his first speech last week, he recycled several old policies that he’s trotted out before. The only new policy of note was another attempt at a so-called “grand bargain.” The President’s latest iteration of a … More

    Reid Throws Major Roadblock in Front of Tax Reform

    Senate Majority Leader Harry Reid (D–NV) has just thrown a roadblock in front of tax reform that could stall the strong momentum that has been building for reform. Reid said that any tax reform plan must raise significant revenue. In other words, he wants tax reform to provide cover for … More

    ANALYSIS | Obama’s Economic Speech: Another Summer Rerun

    President Obama traveled to Illinois today to give the same tired, worn-out economic speech he’s been giving for almost five years now. Rather than offering new solutions that could revive the dormant economy and put people back to work, the President offered the same old policies that have already failed, … More

    Internet Sales Tax: Wishful Thinking Can’t Make It Pro-Growth

    A new study argues that the misnamed Marketplace Fairness Act (MFA), better known as the Internet sales tax, would be good for economic growth. But the argument is premised on something that isn’t in the bill. The study says that because the MFA would allow states to enforce their sales … More

    Phil Gramm’s Excellent Tax Reform Game Plan Has Just One Flaw

    The momentum for tax reform continues to build. Adding to it is former Senator Phil Gramm (R–TX), who wrote an op-ed in The Wall Street Journal laying out a tax reform “game plan” for Congress to follow. Gramm pretty much nails the most important things tax reform must accomplish to … More