House leaders are preparing a vote on a balanced budget amendment next week that could force massive spending cuts and restrict the ability of lawmakers to raise revenue. Although a balanced budget amendment will likely be pitched as a way to address our nation’s long-term fiscal challenges, such proposals are economically harmful, ineffective, and one-sided.
Ronald Mak
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blog April 5, 2018 Passing the Buck: Forcing Spending Cuts through a Balanced Budget Amendment
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blog February 23, 2018 Why the Minute Federal 529 Provision Has Huge Consequences for States
When Republican leaders rushed through an overhaul to the federal tax code over a seven-week legislative period, they failed to acknowledge that many provisions in their bill would have negative consequences for states. One such provision of the Tax Cuts and Jobs Act that undermines state laws is the expansion of federal tax breaks that now allows taxpayers to use 529 savings plans to pay for private K-12 education.
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brief February 23, 2018 Preventing State Tax Subsidies for Private K-12 Education in the Wake of the New Federal 529 Law
This policy brief explains the federal and various state-level breaks for 529 plans and explores the potential impact that the change in federal treatment of 529 plans will have on state revenues.