Budget

  • 02.12.18

    What Trump Proposed Cutting in His 2019 Budget

    This article from the Washington Post outlines President Trump's budget proposal. It describes that "To pay for additional defense spending, the border wall and an infrastructure plan, funding would be cut from many executive departments and agencies, including big cuts at the Environmental Protection Agency and ...Read More

  • 01.01.18

    Tax Policy Center: Briefing Book

    This briefing book from the Urban Institute and Brookings Institution Tax Policy Center gives "A citizen's guide to the fascinating (though often complex) elements of the federal Tax System." It begins with some background on the federal budget and tax system, it covers key elements of the U.S. tax system, suggest...Read More

  • 11.26.17

    Congressional Budget Office Cost Estimate: The Tax Cuts and Jobs Act

    This report from the Congressional Budget Office investigates the Tax Cuts and Jobs Act currently being deliberated in the Senate. Its findings are essential when looking at decisions that will affect the future of the United States. Overall, the CBO finds that "Over the next 10 years, JCT estimates that the legis...

    This report from the Congressional Budget Office investigates the Tax Cuts and Jobs Act currently being deliberated in the Senate. Its findings are essential when looking at decisions that will affect the future of the United States.

    Overall, the CBO finds that "Over the next 10 years, JCT estimates that the legislation would increase on-budget deficits by about $1,441 billion over the period from 2018 to 2027."

    It also describes how this legislation would "permanently modify business taxation" by reducing the overall rate from 35% currently to 20% and alter a significant number of taxes for individuals including: modifying the current tax brackets, increasing the standard deduction, repealing the Alternative Minimum Tax, double the exemption allowed under the estate tax, and others. 

    It also reveals that these changes will disproportionately benefit individuals in higher income brackets.

    CBO Tax Score Table 3

  • 01.11.67

    A Freedom Budget For All Americans

    In the fall of 1965 A. Philip Randolph, prominent economists, allies from the labor movement and others who had participated in the 1963 March on Washington, began working on what they called "A Freedom Budget For All Americans".[1] John Nichols writing fifty years later in The Nation (United States) listed as its ...

    In the fall of 1965 A. Philip Randolph, prominent economists, allies from the labor movement and others who had participated in the 1963 March on Washington, began working on what they called "A Freedom Budget For All Americans".[1] John Nichols writing fifty years later in The Nation (United States) listed as its goals "the abolition of poverty, guaranteed full employment, fair prices for farmers, fair wages for workers, housing and healthcare for all, the establishment of progressive tax, and fiscal policies that respected the needs of working families."[2]

    Bayard Rustin, and Martin Luther King, Jr., worked with Randolph on the Freedom Budget document which was advanced in 1966, determined to win the "full and final triumph of the civil rights movement, to be achieved by going beyond civil rights, linking the goal of racial justice with the goal of economic justice for all people in the United States" and doing so "by rallying massive segments of the 99% of the American people in a powerfully democratic and moral crusade."[3] The proposals of Freedom Budget included a job guarantee for everyone ready and willing to work, a guaranteed income for those unable to work or those who should not be working, and a living wage to lift the working poor out of poverty; such policies provided the cornerstones for King’s Poor People's Campaign.[4]

    A Freedom Budget For All Americans