A diverse coalition from South Carolina is calling on lawmakers to address the rapidly approaching fiscal cliff and the country’s long-term federal debt problems.
On Tuesday the White House unveiled its Fiscal Year 2015 federal budget proposal. There are positive aspects that further deficit reduction and responsible budgeting as well as drawbacks.
On Wednesday, House Ways and Means Committee Chair Dave Camp (R-MI) unveiled a discussion draft of legislation to revamp the federal tax code. Since it's nearly 1,000 pages, we produced a more manageable four-page overview.
The release of a major tax reform proposal from House Ways and Means Chair Dave Camp is generating interest in fixing the tax code, which is critical to fixing the debt. Here are some helpful resources to get up to speed on the topic.
Recent budget numbers from the nonpartisan Congressional Budget Office (CBO) confirm that more work needs to be done to address our fiscal challenges.
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11 March 2014 - The conventional wisdom in Washington is that comprehensive tax reform, as well as any other major legislation, will not happen this year because of the hyper-partisanship and political jockeying ahead of the congressional elections in November. But a recent proposal to fundamentally overhaul the tax code stakes out key ground on the issue.
05 March 2014 - On Tuesday President Obama released his Fiscal Year 2015 federal budget proposal. As those recovering from the festivities well know, it was also Fat Tuesday. Unfortunately, politicians making budget decisions have not received the message that the party is over.
05 March 2014 - On Tuesday the White House unveiled its Fiscal Year 2015 federal budget proposal. There are positive aspects that further deficit reduction and responsible budgeting as well as drawbacks.
03 March 2014 - President Obama will unveil his Fiscal Year 2015 budget request on Tuesday, about a month later than required by law. In anticipation of the release, Fix the Debt offers seven things we would like to see in the budget in order to put the country on a sustainable fiscal course.
26 February 2014 - On Wednesday, House Ways and Means Committee Chair Dave Camp (R-MI) unveiled a discussion draft of legislation to revamp the federal tax code. The proposal is a promising development that hopefully will spur bipartisan engagement on an issue critical to promoting economic growth and fixing the debt.
Why it matters
"It's going to take strong will, effective leadership, and a renewed spirit of bipartisanship from our leaders in Washington to address one of the most pressing challenges of our time. The time for action is now if we're to…Ambassador Tony Garza
The pressure is on Congress to address our growing debt if we want to avoid the fiscal cliff. Congress has to address this now – there is no time to wait. It is time for our elected leaders to…Harry Prestanski
Our country stands as a beacon of liberty and hope for people around the world. I care because I’m afraid of a world where these values are diminished because of our government’s inability to function. Fiscal stability and responsible…Michael Taylor
"As a businessman and former elected official, I am worried about Congress’ ability to reach a national debt deal. If we continue to ignore this growing problem, our economy will suffer the consequences. We can expect slower growth, lower…Rick Bennett