The current budget process was written for a time when appropriations spending was dominant; it does not work as well with so much of the federal budget devoted to spending that occurs automatically on entitlement programs. Further, the current process does not facilitate executive-legislative agreement on budgetary aggregates, which is an important reason for instability and uncertainty in federal finances.
Strategic voters construct expectations of coalitions and policy outcomes based on expected seat distributions and vote to maximize their expected utility from the implemented policy.
This brief explains how Congress and the president can best help reduce our country’s outsized reliance on imprisonment, a goal with rare, widespread bipartisan support.
Eric Toder of the Urban Institute lays out the various options for taxing corporate income. In short: all options are imperfect.
Recent legislation enacted by the House and Senate would move the United States toward a territorial system for taxing US multinational corporations.
Policymakers must change the tax treatment of job-based insurance, reform Medicare, and adjust health savings account rules.
Housing vouchers and other major low-income housing programs should be phased out and replaced with a more efficient housing safety net.
This paper explores the existing reach of government programs that provide cash income to poor families with children and how it has changed over time.
This paper explains the prediction that the dollar will rise significantly in reaction to border adjustment and reviews criticisms of this prediction.