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☑️Objective. ☑️Nonpartisan. ☑️Committed to Fiscal Responsibility.
Follow the Committee for a Responsible Federal Budget for our latest analysis of what's shaping the fiscal conversation in Washington.
🔗crfb.org | 📲@BudgetHawks
Follow the Committee for a Responsible Federal Budget for our latest analysis of what's shaping the fiscal conversation in Washington.
🔗crfb.org | 📲@BudgetHawks
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📰 NEW FROM @thehill @Tim_Penny: This election, trust the candidate that dares to touch Social Security
This morning, CRFB Co-chair and former MN Congressman @Tim_Penny published an opinion piece in @thehill highlighting the issue of looming Social Security insolvency in the the program slated to go insolvent in less than 6 years, Penny emphasizes the importance of this midterm election cycle as the senators elected this year will need to address the shortfall before their term is up.
As 70 million American’s rely on Social Security, he suggests several options for shoring up the program including extending the payroll tax to higher income levels, linking the retirement age to longevity, capping COLA for wealthier retirees, and offering a flat rate COLA.
Click here to read the full piece ➡️ thehill.com/opinion/campai….
This morning, CRFB Co-chair and former MN Congressman @Tim_Penny published an opinion piece in @thehill highlighting the issue of looming Social Security insolvency in the the program slated to go insolvent in less than 6 years, Penny emphasizes the importance of this midterm election cycle as the senators elected this year will need to address the shortfall before their term is up.
As 70 million American’s rely on Social Security, he suggests several options for shoring up the program including extending the payroll tax to higher income levels, linking the retirement age to longevity, capping COLA for wealthier retirees, and offering a flat rate COLA.
Click here to read the full piece ➡️ thehill.com/opinion/campai….
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CRFB.org retweeted
Is America's $40 trillion national debt becoming a crisis? 👀
Join @LizThomasStrat live as she sits down with @MarcGoldwein to unpack what's driving the national debt, its impact on your wallet and the markets, and whether the U.S. can avoid a debt crisis. ➡️ youtube.com/watch?v=AnzqlG…
Join @LizThomasStrat live as she sits down with @MarcGoldwein to unpack what's driving the national debt, its impact on your wallet and the markets, and whether the U.S. can avoid a debt crisis. ➡️ youtube.com/watch?v=AnzqlG…
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CRFB.org retweeted
So-called "non-profit" hospitals make more profit and deliver less community care than "for profit" ones. Yet we give them enormous tax benefits.
@BudgetHawks has been on this for a while - @scottahodge too.
Now @TaxFoundation has some policy solutions and estimates.
@BudgetHawks has been on this for a while - @scottahodge too.
Now @TaxFoundation has some policy solutions and estimates.
🏥 NEW: Tax Reform Options for Nonprofit Hospitals
About half of all U.S. hospitals are designated as “charitable” nonprofit institutions by the IRS, meaning that they are exempt from most taxes and are eligible to receive tax-deductible donations and issue tax-exempt bonds.
pitals are supposed to deliver “community benefits” in exchange for this tax-preferred status, our research shows they often fail to meaningfully do so. They do, however, impose a significant fiscal cost on the federal government despite being more profitable than actual for-profit hospitals.
Last week, @TaxFoundation released a report outlining options to reform the tax status of non-profit hospitals – building on several options we released in 2024. They estimate these options could generate from $5 to $225 billion in revenue over the next decade.
Click here to learn more about the options for reforming the tax treatment of nonprofit hospitals ➡️ crfb.org/blogs/tax-refo….
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🏥 NEW: Tax Reform Options for Nonprofit Hospitals
About half of all U.S. hospitals are designated as “charitable” nonprofit institutions by the IRS, meaning that they are exempt from most taxes and are eligible to receive tax-deductible donations and issue tax-exempt bonds.
pitals are supposed to deliver “community benefits” in exchange for this tax-preferred status, our research shows they often fail to meaningfully do so. They do, however, impose a significant fiscal cost on the federal government despite being more profitable than actual for-profit hospitals.
Last week, @TaxFoundation released a report outlining options to reform the tax status of non-profit hospitals – building on several options we released in 2024. They estimate these options could generate from $5 to $225 billion in revenue over the next decade.
Click here to learn more about the options for reforming the tax treatment of nonprofit hospitals ➡️ crfb.org/blogs/tax-refo….
About half of all U.S. hospitals are designated as “charitable” nonprofit institutions by the IRS, meaning that they are exempt from most taxes and are eligible to receive tax-deductible donations and issue tax-exempt bonds.
pitals are supposed to deliver “community benefits” in exchange for this tax-preferred status, our research shows they often fail to meaningfully do so. They do, however, impose a significant fiscal cost on the federal government despite being more profitable than actual for-profit hospitals.
Last week, @TaxFoundation released a report outlining options to reform the tax status of non-profit hospitals – building on several options we released in 2024. They estimate these options could generate from $5 to $225 billion in revenue over the next decade.
Click here to learn more about the options for reforming the tax treatment of nonprofit hospitals ➡️ crfb.org/blogs/tax-refo….
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📈 What is driving inflation? CRFB President @MayaMacGuineas breaks down the affordability issue affecting millions of Americans on @smerconish's "Can We Agree?" by tracing the growth of federal borrowing – especially post-COVID – to the rise in inflation. She further adds that tinues squeezing the budget and leaves little room to address the affordability challenges Americans face today ⤵️
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"With Social Security insolvency rapidly approaching and policymakers exploring changes to benefits and taxation, Congress could look to base-broadening reforms like the ECT as a guide for how to think about taxing compensation and broadening the tax base."
Great piece from @TaxFoundation's @alex_durante_ on our proposal for an Employer Compensation Tax (ECT) – one of several novel #TrustFundSolutions we've proposed to shore up #SocialSecurity before insolvency arrives in 2032.
Learn more➡️crfb.org/papers/employe….
Great piece from @TaxFoundation's @alex_durante_ on our proposal for an Employer Compensation Tax (ECT) – one of several novel #TrustFundSolutions we've proposed to shore up #SocialSecurity before insolvency arrives in 2032.
Learn more➡️crfb.org/papers/employe….
New post from me on an interesting proposal out of @BudgetHawks to save Social Security.
taxfoundation.org/blog/could-an-…
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🎙️New pod on the U.S. national debt is live on YouTube‼️ It's one of the most important topics for investors today. How does the problem get solved? @MarcGoldwein from the Committee for a Responsible Federal Budget joins me to hash through it. youtu.be/AnzqlG-nuTA?si…
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CRFB.org retweeted
A new analysis from the nonpartisan @BudgetHawks finds that 83% of healthcare markets are highly concentrated, and that hospitals’ and providers’ use of anticompetitive contracting practices is driving up costs for employers and consumers. ahip.org/news/articles/…
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💡 Do tax cuts pay for themselves? Watch @MayaMacGuineas dispel this myth and explain how the negative effects of borrowing outweigh the economic growth gained from cutting taxes. As she explains, tax cuts should be paired with spending cuts⤵️
@smerconish 🔗 youtube.com/watch?v=EcH15J….
@smerconish 🔗 youtube.com/watch?v=EcH15J….
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🚨NEW: Latest IMF Outlook Highlights Strong Growth Amid Rising Debt
The International Monetary Fund (IMF) recently released its latest World Economic Outlook, highlighting persistent global growth but heightened risks.
The IMF estimates that global GDP will decline from 3.5% o a projected 3.1% in 2026 and average 3.2% between 2026 and 2031, while the U.S. will remain stable and below the global aggregate at 2.3% in 2026 and 2027 and 2.0% between 2026 and 2031.
Meanwhile, public debt is projected to climb over the next five years coupled with high financing costs across the world, and several major economies are now facing historically large deficits. Between 2027 and 2031, the IMF projects net debt in the U.S. will grow by 17 percentage points from roughly 100% of GDP to 117%, one of the largest increases in advanced economies.
Notably, despite a strong growth outlook, IMF Managing Director Kristalina Georgieva warned against relying on growth alone to fix current debt issues, acknowledging that growth “helps but it cannot deliver fast enough the necessary adjustments.” The IMF further offered recommendations to start the process of bringing down deficits.
Click here to learn more ➡️ crfb.org/blogs/latest-i….
The International Monetary Fund (IMF) recently released its latest World Economic Outlook, highlighting persistent global growth but heightened risks.
The IMF estimates that global GDP will decline from 3.5% o a projected 3.1% in 2026 and average 3.2% between 2026 and 2031, while the U.S. will remain stable and below the global aggregate at 2.3% in 2026 and 2027 and 2.0% between 2026 and 2031.
Meanwhile, public debt is projected to climb over the next five years coupled with high financing costs across the world, and several major economies are now facing historically large deficits. Between 2027 and 2031, the IMF projects net debt in the U.S. will grow by 17 percentage points from roughly 100% of GDP to 117%, one of the largest increases in advanced economies.
Notably, despite a strong growth outlook, IMF Managing Director Kristalina Georgieva warned against relying on growth alone to fix current debt issues, acknowledging that growth “helps but it cannot deliver fast enough the necessary adjustments.” The IMF further offered recommendations to start the process of bringing down deficits.
Click here to learn more ➡️ crfb.org/blogs/latest-i….
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⏳ Did you know that every significant Social Security law was developed with the help of a commission or advisory council? With the program facing insolvency in less than 6 years, lawmakers should establish a bipartisan commission to examine the program’s finances and provide ess insolvency.
Check out the recent episode of @smerconish's "Can We Agree?" to hear CRFB President @MayaMacGuineas explain why a commission is the best path forward ⤵️
Check out the recent episode of @smerconish's "Can We Agree?" to hear CRFB President @MayaMacGuineas explain why a commission is the best path forward ⤵️
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🚨 Social Security is projected to go insolvent by 2032, at which point retirees will see a 22% across-the-board cut to their benefits. With the program expected to become insolvent within the term of the next class of elected Senators, it is clearly time for #TrustFundSolutions.
Watch CRFB President @MayaMacGuineas break it down here ⤵️
Watch CRFB President @MayaMacGuineas break it down here ⤵️
Social Security will go insolvent in six years unless _____.
The smartest conversation you'll see today about our $40 TRILLION national debt: youtube.com/live/EcH15J4sd…
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💡How do we solve our $40 trillion national debt problem? Check out the recent episode of @smerconish's "Can We Agree?" to hear the discussion and find out how CRFB President @MayaMacGuineas proposes to tackle the issue⤵️
No one leaves until we agree on how to solve the $40 TRILLION national debt. A new episode of "Can We Agree?" is LIVE now on YouTube: youtube.com/live/EcH15J4sd…
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CRFB.org retweeted
What will it take for lawmakers to address America's $40 TRILLION debt? Apparently, a crisis.
Full discussion: youtube.com/live/EcH15J4sd…
Full discussion: youtube.com/live/EcH15J4sd…
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⏳NEW: Social Security is Now Less Than Six Years from Insolvency
The Social Security retirement trust fund is now less than six years from insolvency, according to CRFB's Insolvency Countdown Clock.
Without action from policymakers, beneficiaries will face a deep and abrupt e retirement fund is exhausted in late 2032. That is when today’s 61-year-olds will reach their normal retirement age and when today’s youngest retirees turn 68.
Slipping below the six-year mark until the insolvency of Social Security’s retirement trust fund is a timely reminder that now is the time for #TrustFundSolutions.
🔗crfb.org/blogs/social-s….
The Social Security retirement trust fund is now less than six years from insolvency, according to CRFB's Insolvency Countdown Clock.
Without action from policymakers, beneficiaries will face a deep and abrupt e retirement fund is exhausted in late 2032. That is when today’s 61-year-olds will reach their normal retirement age and when today’s youngest retirees turn 68.
Slipping below the six-year mark until the insolvency of Social Security’s retirement trust fund is a timely reminder that now is the time for #TrustFundSolutions.
🔗crfb.org/blogs/social-s….
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