Chris Edwards
School choice reforms are spreading across the nation. Governments in 33 states are now providing financial support for private schooling through 80 different programs, as shown in this figure from EdChoice. About one million students are benefiting from these reforms.
In researching Cato’s governor report cards, I’ve found that high‐tax states appear to hand out the most special‐interest breaks and subsidies. Let’s look at some supporting data.
President Biden’s new federal budget proposes high spending and huge deficits for years to come. The deficits are expected to boost government debt held by the public from $28 trillion this year to $45 trillion by 2034.
President Biden has released his proposed federal budget for fiscal year 2025 and beyond. The proposal includes a raft of spending increases, including new subsidies for childcare, housing, college, health care, paid leave, refundable tax credits, home care, and many other things. It also includes a bevy of large tax increases, including higher rates on individual income, corporate income, and capital gains.
Policymakers across the nation are concerned about the high costs of housing for moderate‐income families. One federal response to the problem is the low‐income housing tax credit (LIHTC), which provides income tax credits to developers of multifamily housing. Currently, Congress is considering expanding the LIHTC and adding a new middle‐income or workforce version of the credit.
The federal government’s debt is rising to dangerous and unprecedented heights. Compared to the size of the economy, the debt will soon reach levels never seen in our nation’s history.
Cutting federal aid to the states would reduce our national debt while improving governance.
The federal government’s debt is massive and growing rapidly. How massive? Federal debt held by the public of $28.5 trillion is eight times larger than the combined debt of all state and local governments of $3.3 trillion.
As Congress considers a farm bill in coming months, it should keep in mind that farm household incomes have risen greatly over the decades.
With the congressional debate over a new farm bill on the horizon, the Environmental Working Group (EWG) held a conference today to examine farm policies. The speakers included both environmentalists and fiscal conservatives who share views that some farm programs are anti‐green and benefit wealthy landowners who do not need the money. The EWG has been a leader in calling for farm subsidy reform.
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