Tax and Budget Policy

Any modernization effort should simplify and shrink—not expand—the total fiscal cost of federal child subsidies. Repealing these entirely in favor of lower tax rates would return social and welfare policy to the states where it can be more fiscally responsible and better designed. 

Americans voted for Republicans to tackle overspending, debt, and inflation. This year, Republicans can pass major spending cuts with majorities in the House and Senate. They have a supportive president in Trump and the tailwind provided by his DOGE initiative. Republicans must seize the moment.

The 119th Congress will confront several fiscal deadlines that include reaching the federal debt limit in 2025, the expiration of statutory discretionary spending caps, expanded Obamacare health insurance subsidies, and a host of tax provisions.

The law is spending billions more than projected but has done little to curb carbon emissions.