The push on taxes is in full swing. Our resources show the need for real, comprehensive reform that does not add to the national debt.
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14 December 2017 - Negotiators from the House of Representatives and Senate are about finished ironing out the differences in the tax bills they recently passed and plan to vote on final tax legislation the week of December 18. The conference committee reconciling the two bills was another missed opportunity to improve the legislation so that it really transforms the tax code without adding to the national debt. Instead, it looks like more gimmicks will be added that will increase the true cost of the legislation.
07 December 2017 - The House of Representatives and Senate have both passed legislation to cut taxes. Both versions could increase the national debt by some $2 trillion over ten years. That is on top of the $10 trillion that the debt is already forecast to grow by over the next decade.
05 December 2017 - We are disappointed that the Senate approved tax legislation that is projected to add $1 trillion to the national debt after accounting for economic growth. However, some senators did stand up for a more fiscally responsible approach to tax reform that would grow the economy in a lasting way. We want to thank each of them. We wrote an open letter that you can join us in signing.
01 December 2017 - The evidence is in and no analysis of the tax legislation in Congress shows it covering its cost through increased economic growth, much less growing the economy enough to put a dent in the national debt. If lawmakers are truly serious about encouraging stronger economic growth over the long run, they should consider real tax reform that does not increase the debt.
$20 Trillion Debt