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  • deficit reduction

    Chart of the Week: U.S. Rivals Japan for World’s Highest Corporate Tax Rate

    Republicans and Democrats on the Joint Select Committee on Deficit Reduction this week finally agreed on something substantive: The U.S. corporate tax rate is too high. It’s a point we’ve been making for years at Heritage. High federal and state corporate tax rates — a whopping 39.2 percent when combined … More

    The President’s “Debt Reduction”: $1.6 Trillion in Tax Hikes, Almost No Net Spending Reductions

    During his Rose Garden speech Monday, the President claimed that his new “debt reduction” plan would provide $2 of spending cuts for every $1 of tax increases. A closer look at the administration’s own numbers, however, suggests the President, well, exaggerated. A realistic assessment—based mainly on table S-6 of the … More

    Simple Steps for Super Committee Transparency

    Roll Call carries op-eds today from the Ripon Society and Heritage debating the merits of Super Committee transparency. Ripon’s Lou Zickar thinks the Joint Select Committee on Deficit Reduction would benefit from privacy. I argue that’s exactly the wrong approach for the most powerful committee in congressional history. As the … More

    Chart of the Week: Your Share of the National Debt Is Growing Rapidly

    The newly formed Joint Select Committee on Deficit Reduction holds its first meeting this week. The 12-member panel will gather at 10:30 a.m. Thursday for an organizational session, then meet again on Sept. 13 at 10:30 a.m. for a hearing on “The History and Drivers of Our Nation’s Debt and … More

    New Push to Make ‘Super Committee’ Operate in the Open

    The newly formed Joint Select Committee on Deficit Reduction has its 12 members, but beyond that there’s little known about how exactly it will operate. Congressional leaders have promised transparency of its deliberations. And as of now, though, only the first meeting and final report are required to be publicly … More

    Gingrich Wants House GOP to Pass Democrat-Backed Offshore Drilling Bill

    Speaking at Heritage this morning, former Speaker Newt Gingrich called on House Republicans to put politics aside and pass a new proposal from two Democratic senators that would expand offshore drilling off Virginia’s coast. Gingrich suggested it should be one of the top priorities for the House GOP when lawmakers … More

    Former Speaker Newt Gingrich to Speak at Heritage on Deficit Reduction

    Newt Gingrich knows a thing or two about how Congress operates. The former lawmaker represented a Georgia district for 20 years and spent four of them leading the U.S. House as speaker. So when Congress approved the Budget Control Act, creating the 12-member Joint Select Committee on Deficit Reduction, Gingrich … More

    Senators Want Joint Committee’s Meetings Aired on TV, Open to Public

    A half-dozen Republicans are lobbying Senate leaders to make the newly created Joint Select Committee on Deficit Reduction transparent in its operations and accessible to the American public. Their proposal includes public attendance at meetings and live television broadcasts. In a letter to Senate Majority Leader Harry Reid (D-NV) and Minority … More

    5 Transparency Ideas for the New Joint Committee on Deficit Reduction

    Upon taking control of the U.S. House in January, Republicans implemented sweeping reforms to make the People’s House more transparent and accessible. Now they’ll have a chance to bolster their good-government credentials with the newly created Joint Select Committee on Deficit Reduction. Twelve lawmakers from the House and Senate will … More

    House Won’t Provide 72 Hours to Review Budget Control Act

    Speaker John Boehner (R-OH) repeatedly criticized Democrats last year for voting on legislation that members didn’t have time to read. “Read the Bill” language was even included in the GOP’s Pledge to America to ensure lawmakers would have adequate notice to review legislation. “Neither members of Congress or the public … More