Committee for a Responsible Federal Budget

Media Coverage

Aug 9, 2017|The Hill

Debt group urges GOP chairman to avoid budget 'gimmicks'

The Committee for a Responsible Federal Budget (CRFB) is urging the Senate Budget Committee to avoid using “gimmicks” as it crafts a budget resolution to facilitate tax-reform legislation.

CRFB, which has bipartisan leadership and supports fiscal responsibility, said the Senate panel should produce a resolution that uses the traditional current-law baseline for scoring legislation, rather than a current-policy baseline that assumes temporary tax breaks will be extended.

"Adopting a 'choose your own baseline' practice would set a dangerous precedent that would allow Congress to hide the true cost of massive debt-busting entitlement spending or tax changes in the future," CRFB president Maya MacGuineas wrote in a letter to Budget Committee Chairman Mike Enzi (R-Wyo.) on Wednesday.

Aug 8, 2017|Bloomberg

Republicans Discuss a Mix of Temporary, Permanent Tax Changes

The one-page outline of a tax plan that the White House released in April called for cutting the corporate tax rate to 15 percent -- down from the current 35 percent. It also would condense the existing seven individual income tax rates to three, cut the top rate to 35 percent from the current 39.6 percent and double the standard deduction. Overall, the plan might cost as much as $5 trillion over 10 years, according to an estimate from the nonpartisan Committee for a Responsible Federal Budget.

Aug 4, 2017|The Fiscal Times

Budget Hawks Call for ‘Mini-Bargain’ to Address the Debt and Deficit

The Committee for a Responsible Federal Budget, which has long pushed for sustainable spending and debt management, this week released a set of proposals that, while falling short of the massive changes to the tax code and entitlement spending that former president Barack Obama and former House Speaker John Boehner once contemplated, would at least begin moving the country in that direction.

“Unfortunately, policymakers are far from negotiating a ‘grand bargain’ to fix the debt,” CRFB concedes in the paper released Thursday. “Instead, many are pursuing policies that would further increase debt by cutting taxes under the guise of tax reform and increasing defense and non-defense discretionary spending above current law caps.

Aug 3, 2017|The Hill

Fiscal hawks call for ‘mini-bargain’ on budget

A bipartisan, fiscally conservative advocacy group has called on Congress to strike a “mini-bargain” to reform the budget process, an opening bid to addressing the nation’s debt woes.

“Major tax and spending reforms are needed to fix the country’s debt, but we can’t let the perfect be the enemy of the good,” said co-chair of the Committee for a Responsible Federal Budget (CRFB) Leon Panetta, a Democratic former Defense Secretary, White House chief of staff and House Budget Committee chairman.

Aug 2, 2017|McClatchy DC

Conservatives’ ‘power of no’ stifles Republican agenda

"They’ve created an approach that gives them enough power to have real influence on the outcomes," said Maya MacGuineas, president of the nonpartisan Committee for a Responsible Federal Budget, of Meadows’ caucus. "But there’s a real difference between being able to affect the outcome and really drive an agenda to where you want it to be."

Aug 2, 2017|The Fiscal Times

Top GOP Conservative: We Won’t Play Around With the Debt Ceiling

In a statement released Tuesday, Maya MacGuineas, president of the Committee for a Responsible Federal Budget, said, “We need to increase the statutory debt limit as soon as possible. We should have done so already to avoid creating undue and potentially costly uncertainty, and we most certainly should not wait until the last moment to make this necessary increase. No Member of Congress should even consider holding this must-pass legislation hostage.”

Aug 1, 2017|Vox

John McCain did not kill Obamacare repeal for good. It could still come back.

The budget procedure experts I spoke with thought the second interpretation — that reconciliation lasts until a new budget resolution is passed — was the most plausible, but acknowledged there’s considerable uncertainty on the question. “Many think Sept 30. Others think not until new resolution passes or 115th Congress adjourns,” Marc Goldwein, senior vice president and senior policy director for the Committee for a Responsible Federal Budget and a leading budget procedure expert, says.

Aug 1, 2017|USA Today

Congress faces urgent deadlines to fund government, avert debt default

"The debt ceiling isn’t a game of chicken," said Maya MacGuineas, president of the non-partisan Committee for a Responsible Federal Budget. "It should be raised as soon as possible to ensure continued confidence in our economic system here at home and around the world."

Jul 31, 2017|Fox Business

Paul Ryan meets with DC powerhouses amid tax reform concerns

The idea of eliminating the state and local tax deductions would be controversial and possibly unpopular as Americans in 43 states would lose the option to deduct what they pay in taxes from their federal return, which lowers their overall tax bill.

While eliminating those deductions could save the federal government an enormous amount of money, it benefits Americans in New York, New Jersey and Connecticut the most. According to the Committee for a Responsible Federal Budget, about a third of the tax benefit goes to those three states.

Jul 28, 2017|The Washington Post

Trump to GOP: Show me the BIG tax reform

This debate matters because the White House assumes tax cuts will lead to much stronger economic growth, which will then cause tax revenue to go up.

Outside experts, like those at the Committee for a Responsible Federal Budget, a nonpartisan public policy think tank, disagree. They predict Trump's plans will add trillions to America's debt. The GOP statement Thursday did nothing to ease their fears.

“The outline today did not include deficit neutrality as a principle, a glaring omission and key factor for any plan intended to grow the economy and rein in our unsustainable debt,” says Maya MacGuineas, president of the CRFB.

Jul 28, 2017|Fox Business Network

How tax reform affects the overall economy

Committee for a Responsible Federal Budget President Maya MacGuineas weighs in on the debate over tax reform.

Jul 28, 2017|The Washington Post

White House, business groups start major push to cut taxes

“Real tax reform that is paid for is much harder than fiscally irresponsible tax cuts that aren’t,” said Maya MacGuineas, president of the Committee for a Responsible Federal Budget, a group that advocates for deficit reduction. “I think there are numerous camps that represent those different viewpoints.”

Jul 28, 2017|VICE

So, Is Trump Gonna Build That Wall or What?

If it does, Trump will have to decide if he's willing to veto a wall-less bill. He hasn't given any clear indication on this. But conservative lawmakers think he's willing to stand strong on this front. After all, as the Washington Post pointed out last week, the wall is the clearest victory Trump could win on immigration, a typically difficult issue that he's put at the heart of his presidency. It's also the manifestation of his self-image as a builder.

"He is very serious about it," said Committee for a Responsible Federal Budget President MacGuineas. "But he will [have to] evaluate the chance of his veto being successful and quite possibly decide it just isn't worth" the risk of a failed block.

Jul 28, 2017|Politico

The House border adjustment (2016-2017)

There’s definitely some fear among deficit hawks that Republicans will take the easier path of just cutting taxes in the end, but a couple of potential problems with that approach, via Ed Lorenzen of the Committee for a Responsible Federal Budget: the current House budget resolution and Senate pay-as-you-go rules.

Jul 27, 2017|Forbes

Health Plans Rip 'Skinny Repeal' As Disaster For Insurance Markets

Eliminating the individual mandate would “increase the number of uninsured individuals by 15 million by 2026 and increase premiums in the individual insurance market by 20%” the Committee for a Responsible Federal Budgetsaid this week.

Jul 27, 2017|Los Angeles Times

Trump and GOP leaders agree to drop border-adjustment tax from reform

Without the border adjustment, “we’re going to be more in the 25% level,” said Marc Goldwein, a senior vice president for the nonpartisan Committee for a Responsible Federal Budget.

Jul 27, 2017|Politico

GOP 'skinny' plan not getting hefty support yet

"This achieves less deficit reduction than I expected and would not comply with Senate rule requiring [that] amendments to reconciliation bill not reduce deficit reduction because on-budget savings are less than House bill," said Ed Lorenzen of the Committee for a Responsible Federal Budget, reviewing the estimate. CBO projected $130 billion in net deficit savings and just $78 billion in on-budget savings over the next decade, based on the mockup of the Senate GOP bill.

Jul 26, 2017|NBC News

Here’s the Lowdown on ‘Skinny Repeal’ of Obamacare

One advantage of "skinny repeal" from a procedural perspective is that it’s likely to meet the requirement that any bill the Senate passes reduce the deficit by as much as the House plan, which saved $119 billion over 10 years. Because CBO finds millions of fewer people would buy insurance, the government wouldn’t have to pay to subsidize their premiums.

The nonpartisan Committee for a Responsible Federal Budget estimated on Tuesday the overall "skinny repeal" package would save about $225 billion.

Jul 26, 2017|Forbes

Senate Health Bill's Only Win May Be Tax Relief To Device Makers

The two mandates are unpopular among most Republicans but could cause millions to lose coverage. The individual mandate, which requires Americans to have coverage or face a penalty, would “increase the number of uninsured individuals by 15 million by 2026 and increase premiums in the individual insurance market by 20%” the Committee for a Responsible Federal Budget said Tuesday afternoon.

Jul 26, 2017|The Hill

Mnuchin, Van Hollen clash over Congressional Budget Office

"You don’t beat up the referee just because you don’t like the score," warned Maya MacGuineas, president of the fiscally conservative Committee for a Responsible Federal Budget.

"The Congressional Budget Office serves an invaluable function providing Congress with solid, nonpartisan analysis of the costs and tradeoffs of thousands of different proposed policies. While estimates of complex legislation are inherently uncertain and no estimates will be perfect, the estimates produced by CBO are based on objective analysis of evidence and data without regard to partisan interests," she added. 

Jul 26, 2017|CNBC

Trump says America has 'the highest taxes in the world'—here's how the US actually compares

You can see this reflected in a chart by the Committee for a Responsible Federal Budget in 2016, which uses slightly different numbers. By their calculations, Denmark comes in at over 50 percent. But the U.S. remains steady at 26 percent, significantly below the average of 34 percent. As such, America is actually "among the lowest-taxed countries in the OECD."

Jul 26, 2017|Vox

The health care vote-a-rama is nigh

The skinny repeal would fall far short of the goal of complete elimination of the ACA, but it would give Republicans the ability to claim at least a small victory. However, according to the Committee for a Responsible Federal Budget, it would also result in at least 15 million fewer Americans with insurance within a year, and 20 percent increases in health insurance premiums, while saving the federal government a relatively modest $225 billion over 10 years

Jul 26, 2017|McClatchy DC

House soundly rejects conservative bid to eviscerate Congressional Budget Office

“You don’t beat up the referee just because you don’t like the score,” Maya MacGuineas, president of the Committee for a Responsible Federal Budget, said in a statement.

Jul 26, 2017|InsideHealthPolicy

Committee For A Responsible Federal Budget: Skinny ACA Repeal Would Cut Deficit By $225 Billion

The Senate’s envisioned “skinny repeal” of the Affordable Care Act would result in a $225 billion deficit reduction and 15 million uninsured by 2026, according to a recent report from the Committee for a Responsible Federal Budget.

Jul 25, 2017|The Fiscal Times

'Skinny Repeal’ of ACA Likely to Leave Everyone Wanting More

The skinny repeal would fall far short of the goal of complete elimination of the ACA, but it would give Republicans the ability to claim at least a small victory. However, according to the Committee for a Responsible Federal Budget, it would also result in at least 15 million fewer Americans with insurance within a year, and 20 percent increases in health insurance premiums, while saving the federal government a relatively modest $225 billion over 10 years.

Jul 25, 2017|Palm Beach Post

Trump hails Senate move on health care; stakes high for Florida

Such a “skinny repeal” plan likely would result in $225 billion of deficit reduction during the coming decade and cause 15 million Americans to drop out of coverage, estimated the Washington, D.C.-based Committee for a Responsible Federal Budget. It would also increase premiums in the individual market by 20 percent, CBO has projected.

Jul 25, 2017|Washington Blade

With McCain’s help, Senate votes to proceed with Obamacare repeal

The bill with which senators agreed to proceed was the House version of Obamacare repeal. Media reports indicated the Republican majority would seek to amend it with a “skinny” version of Trumpcare that includes repealing the Affordable Care Act’s individual mandate, the employer mandate, and the medical device tax.

According to the Committee for a Responsible Federal Budget, the “skinny” version of Trumpcare would save about $225 billion over a decade and result in 15 million more uninsured by 2026.

Jul 24, 2017|CNN Money

How tax reform could change your 401(k) tax break

But the change would lose money over time because the federal government would not get as much in revenue when employees retire and begin to make tax-free withdrawals.

Such a timing shift is a fiscal gimmick, according to the Committee for a Responsible Federal Budget. "It produces savings in the near term by deferring costs to the long term."

Jul 23, 2017|USA Today

Congress' next big battles: Passing spending bills, raising the debt limit

“We’re going to see an increase in the debt limit — we have to,” predicted Marc Goldwein, head of policy and senior vice president for the non-partisan, non-profit Committee for a Responsible Federal Budget.

It’s doubtful, however, that Congress will pass all 12 of the spending bills before the close of the current fiscal year on Sept. 30, Goldwein said.

Jul 21, 2017|McClatchy DC

GOP trashes Trump’s plan to end dozens of government programs

Other budget-watchers note that the real money issues aren’t even being addressed. Marc Goldwein, senior vice president and senior policy director for the nonpartisan Committee for a Responsible Federal Budget, said that even Trump’s cuts ignore the fastest growing parts of the federal budget, entitlements like Social Security and Medicare.

"To me, it just doesn’t seem to make much sense to be focusing all our energy on cutting the slowest growing part of the budget," he said.

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