Federal Deficits, Growing Debt, and the Economy in the Wake of COVID-19 (CRS R46729)

The Coronavirus Disease 2019 (COVID-19) pandemic caused a swift and deep economic downturn from which the country has yet to fully recover. In response to COVID-19, the federal government enacted expansionary fiscal policy to provide relief and stimulus to the economy. Several bills were enacted in FY2020, including the Coronavirus Aid, Relief, and Economic Security … Read more

Traditional and Roth Individual Retirement Accounts (IRAs): A Primer (CRS RL34397)

In response to concerns over the adequacy of retirement savings, Congress has created incentives to encourage individuals to save for retirement through a variety of retirement plans. Some retirement plans are employer-sponsored, such as 401(k) plans, and others are established by individual employees, such as Individual Retirement Accounts (IRAs). This report describes the primary features … Read more

The Constitution of the United States – Related Materials

The United States Constitution and The Declaration of Independence Pocket Constitution – Related Materials TCNCRM.com / TCNCAM.com If you have suggestions for additional Constitution-related items that should be referenced, please contact us. Thanks to the people who have made suggestions: Prof. W. B. Allen, Prof. Robert McDonald, Toby Dorsey.   Antonin Scalia – On American … Read more

Crony Capitalism / Rent-Seeking / Corporate Welfare / Revolving Door (CongressionalGlossary.com)

Crony Capitalism / Rent-Seeking / Corporate Welfare / Revolving Door Corporate welfare refers to subsidies and regulatory protections that lawmakers confer on certain businesses and industries. When considering budget issues, federal policymakers are supposed to have the broad public interest in mind. Unfortunately, that is not how the federal budget process usually works in practice. … Read more

Zero Based Budgeting (CongressionalGlossary.com)

From the Congressional Glossary – Including Legislative and Budget Terms “Zero Based Budgeting is a method of budgeting in which all expenses must be justified for each new period. Zero-based budgeting starts from a ‘zero base,’ and every function within an organization is analyzed for its needs and costs. Budgets are then built around what … Read more

Deflation / Inflation / Real Dollar (CongressionalGlossary.com)

From the Congressional Glossary – Including Legislative and Budget Terms Deflation / Inflation / Real Dollar Whip Inflation Now (WIN) Deflation: A sustained decrease in the general price level. Deflator: An index used to adjust a current dollar amount to its real dollar counterpart, that is, to remove the effects of inflation. Inflation: A rise … Read more

“Emergency” Spending / Emergency (CongressionalGlossary.com)

From the Congressional Glossary – Including Legislative and Budget Terms “Emergency” Spending / Emergency photo credit: vonderauvisuals Spending with the “emergency” designation does not count against budget caps. While often used for one-time, unforeseen events, this designation has also been used to circumvent budget limits. For example, spending for the census has been designated as … Read more

The Onerous Compliance Cost of the Internal Revenue Code

More IRS 16th Amendment How to Contact Congress Citizen’s Handbook to Influencing Elected Officials The Federal Budget Process “There’s no fairness in taxing e-sales,” by Jeff Jacoby, The Boston Globe, April 17, 2011 Related PostsThe Constitution of the United States: Amendment 13 (Thirteenth Amendment – Abolition of Slavery) Recent CRS Reports – June 2013 The … Read more

The Commerce Clause – Article I Section 8, Clause 3 of the Constitution

The United States Constitution The Commerce Clause is one of Congress’ enumerated powers found in the Constitution of the United States, Article. I. Section. 8., clause 3: (Clause 3 – Commerce power) [The Congress shall have Power] To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes;   The … Read more