Defining Our Long-Term Fiscal Challenges (Steuerle): Testimony Before the U.S. Senate Budget Committee
Publication Date: January 2007
Publisher(s): Tax Policy Center
Author(s): C. Eugene Steuerle
Special Collection: John D. and Catherine T. MacArthur Foundation
Keywords: Economy; Federal Budgets & Fiscal Policy; Tax Policy; Tax Distribution and Economic Trends
In testimony before the U.S. Senate Budget Committee, senior fellow C. Eugene Steuerle explained how, in recent decades, the government has wound a straightjacket around federal spending and tax subsidies. The main culprits have been in the broad areas of retirement, health, and taxation. Left alone, it leaves Congress with almost no control over its own budget. Only major systemic reform can restore a normal democratic process. He also highlighted ten consequences of the current budgetary situation.