Fiscal FactCheck

Aug 16, 2018 | Blog Paper Press Release | Taxes

Has Revenue Risen in 2018?

The Wall Street Journal editorial board claimed on Saturday that "Tax Revenues Are Higher," citing a Congressional Budget Office (CBO) report that...

Has the Recent Economic Boom Offset 88% of the Cost of the Tax Cut?

In a Wall Street Journal op-ed shared by the House Ways and Means Committee, Mike Solon of US Policy Metrics makes the argument that thanks to...
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Growth Just Hit 4.1 Percent – Don't Expect It To Last

The Bureau of Economic Analysis today released its initial estimate that the economy grew at a 4.1 percent annualized rate in the second ...
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Have Deficit Projections Doubled Because of the Tax Bill and BBA 2018?

Chairman of the House Ways and Means Committee Kevin Brady (R-TX) appeared on Fox Business this morning, where he was asked about CRFB's analysis...
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Does CBO "Expect the TCJA to Significantly Boost" the Economy in 2018?

UPDATE: The FRBSF paper has been corrected to remove the erroneous claim that CBO’s growth estimates are well in excess of theirs. The below fact...
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The Deficit Is Not "Coming Down Rapidly"

This morning, White House National Economic Council Director Larry Kudlow appeared on Fox Business and made the following claim (emphasis added...
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Did the U.S. Really Spend $7 Trillion on Middle Eastern Wars?

In a roundtable in Minnesota yesterday, President Donald Trump claimed "we have $7 trillion in the Middle East", a rephrasing of his previous claims...
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Does the Rescissions Bill Cut $15 Billion in Spending?

The President recently updated and revised his request to rescind some spending, removing some cuts from the proposal and clarifying others. The...
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Does the Rescissions Bill Undermine Children's Health Care?

Many have criticized President Trump's $15 billion rescission package for cutting the Children's Health Insurance Program (CHIP). For instance, a...
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Is CBO "Always Wrong" Because It Doesn't Understand Growth?

In dismissing projected trillion-dollar deficits, National Economic Council director Larry Kudlow recently claimed that one should "never believe the...

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