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  • fiscal cliff

    Tax Increases Really Hurt Growth and Jobs

    Some lawmakers, led by Senate Budget Committee chair Patty Murray (D–WA), are seeking to raise taxes in the budget conference to replace the modest spending reductions referred to as sequestration. They say that spending cuts hurt growth and jobs. If they are truly concerned about the economy and Americans’ opportunities, … 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

    It’s Tax Freedom Day: Finally We Get to Work for Ourselves!

    April 18 marks the 108th day of 2013. It is also Tax Freedom Day, as calculated by the Tax Foundation. Tax Freedom Day is the day that we as a nation have finally earned enough income to pay the tab for all federal, state, and local taxes for the year. … More

    Morning Bell: Where Did Your Tax Dollar Go?

    Americans are waking up today to the worst “case of the Mondays” they’ll have all year: It’s Tax Day. Most Americans dread Tax Day, and for good reasons. Beyond the huge tab Americans pay to the government, the tax code is so complex that it’s difficult to figure out what … More

    Damaging Policies Add Up to $1 Trillion Tax Increase in Obama Budget (UPDATED)

    UPDATE: The official total tax increase in President Obama’s budget is now available in the Treasury Department’s “Green Book.” Treasury scores the total net tax increase from all President Obama’s tax polices at more than $1.1 trillion over 10 years. There was little doubt that President Obama would propose a … More

    $1.2 Billion in Cash Goes to Energy Projects, Despite Sequestration

    Despite a fiscal cliff and sequestration worries, more than $1.2 billion in cash payments for energy projects (in lieu of tax credits) have been issued by the Department of Treasury and Department of Energy since January 1, according to documents from the U.S. Treasury. Through February 14, $1,254,769,726 was distributed … More

    VIDEO: Obama's 13 Tax Hikes in 2013

    President Obama is crisscrossing the country to scare Americans about sequestration. But what’s really frightening are the 13 Obama tax hikes that took effect in 2013. These tax increases, which range from new Obamacare taxes to a payroll tax hike on workers, will slow the economy. Heritage Foundation President-Elect Jim … More

    In Congress, a Welcome Desire for "Regular Order"

    As Members of Congress left town last week for the Presidents’ Day break, a refreshing and commendable sentiment followed them: nostalgia for the “regular order” of lawmaking. “Tired of watching as flailing leadership negotiations fail to produce any key legislation,” wrote The Washington Post, “senior lawmakers hope that a return … More

    Senate Sequester Plan: They Can’t Be Serious

    The Hill newspaper demonstrated a keen knack for understatement today with its account of Senate Democrats’ $110 billion sequester replacement proposal: “The bill would appear to have little chance of reaching President Obama’s desk, however, given opposition from House and Senate Republicans to increasing any taxes to replace the sequester.” … More

    Watch Out…The President's Talking "Balance" Again

    If you aren’t nervous, you should be. The President is, once again, talking about a “balanced approach” to fixing sequestration—the across-the-board budget cuts scheduled to hit America. Translation: your pocketbook is threatened. The last time the President negotiated a “balanced” package was January’s fiscal cliff deal. He said that only … More