Issue Brief posted May 15, 2013
Obama’s IRA Cap: A Cap on Defined-Contribution Retirement Savings Plans
President Obama proposes to cap the total value of taxpayers’ defined-contribution retirement savings accounts—such as Individual Retirement Accounts (IRAs) and 401(k)s—according to the maximum benefit permitted under defined-benefit plans. In 2013, that would be around $3.4 million.
This proposal would be a step backwards for savings policy, because it would increase…
Backgrounder posted February 12, 2013
How the United States’ High Debt Will Weaken the Economy and Hurt Americans
Growing federal debt also would increase the probability of a sudden fiscal crisis, during which investors would lose confidence in the government’s ability to manage the budget and the government would thereby lose its ability to borrow at affordable rates. Such a crisis would…probably have a very significant negative impact on the country.
-Congressional Budget Office,…
Audio Recorded on January 18, 2013
Heritage in Focus: ...What IS the Debt Ceiling?
Research Coordinator Romina Boccia discusses the phrase mainstream media has been focusing on for weeks and how policy makers can improve our economy going forward on this week's Heritage in Focus. Jackie Anderson hosts.
To get regular updates on Heritage in Focus podcasts, visit our RSS feed or subscribe on iTunes.…
Backgrounder posted January 14, 2013
Environmental Conservation Based on Individual Liberty and Economic Freedom
The nation's primary environmental goal should be a cleaner, healthier, and safer environment for current and future generations, as well as conservation of America's resources while protecting people and their liberty. Regrettably, America's current environmental policy does not reflect these ideals. Indeed, America's governing environmental laws—like the Clean Air Act,…
Issue Brief posted November 28, 2012
What’s in the Fiscal Cliff?
The nation is now firmly on track to go over the fiscal cliff in January 2013 unless Washington takes action. The uncertainty leading up to the fiscal cliff—especially Taxmageddon—is already hurting the economy today and, according to projections by the Congressional Budget Office, could send the country back into recession in 2013.
Individuals, families, businesses,…
Issue Brief posted July 23, 2012
Farm Bill Should End Secrecy in Crop Insurance Subsidies
Crop insurance subsidies are one of the biggest taxpayer handouts to the agriculture sector. In 2011, taxpayers were on the hook for $7.4 billion for crop insurance premium subsidies alone. Unlike most other farm payments, taxpayers are prevented from learning who receives these subsidies and in what amounts. Congress should end the crop insurance secrecy to enable…
Issue Brief posted June 14, 2012
CBO Report Echoes Trustees on Medicare, Social Security
The 2012 Congressional Budget Office (CBO) long-term budget outlook illustrates a grim picture for the nation’s fiscal future unless entitlements are reformed. In particular, spending on Medicare and Social Security is the largest driver of federal spending and debt. In combination with the 2012 trustees report, the projections in this latest CBO report present a…
WebMemo posted December 13, 2011
POWER Act: Doubling Down on Bad Energy Policy
The U.S. House of Representatives recently passed H.R. 2360, the Providing for Our Workforce and Energy Resources (POWER) Act, which according to its sponsor, Representative Jeff Landry (R–LA), would “close a loophole in existing law that allows offshore renewable energy resources to be installed and serviced by foreign workers.” This would supposedly result in more…
WebMemo posted May 13, 2011
Ten Myths of Ryan’s House Budget Plan
Runaway spending and deficits continue to grow unabated in part because any attempts to rein them in are relentlessly demagogued by defenders of big government. The latest example is the budget recently authored by House Budget Committee chairman Paul Ryan (R–WI) and passed by the House of Representatives.
Most critics have failed to provide any credible alternative…