Lawmakers should ensure that any extension of the enhanced ACA subsidies is not only fully paid for, but also reduces ...

Updated projections from the Congressional Budget Office (CBO) show that tariffs enacted this year will reduce debt ...

But earlier this year, the Social Security trustees issued a dire wake-up call: they project that the trust fund that allows the program to currently pay full promised benefits will be exhausted in ...

In this piece, we show that over 75 years, borrowing to fund Social Security could: Add over $150 trillion to the debt when adjusted for inflation, or over $700 trillion nominally Boost debt by over ...

As policymakers continue to debate what’s next for the Affordable Care Act (ACA) exchanges, there has been significant confusion over how the subsidies work, how much they cost, and why premiums are ...

Notes: Deficit impact for disputes of the FY 1996 shutdowns were over seven years rather than a decade. Shutdowns only include those where operations were affected for more than one business day.

The federal government raised $195 billion in customs duties in Fiscal Year (FY) 2025, more than 250% of what it collected in FY 2024, according to the final Monthly Treasury Statement of FY 2025.

Some of the nation’s largest and most important programs are financed through government trust funds that collect dedicated revenues and then distribute those funds. This includes Social Security’s ...

The enactment of the One Big Beautiful Bill Act (OBBBA), new tariffs framework, and other changes have meaningfully changed the fiscal outlook since the Congressional Budget Office’s (CBO) January ...

Sources: CRFB estimates based on data from the Joint Committee on Taxation and the Congressional Budget Office. Note: individual provisions are calculated by adding a current policy adjustment to the ...