A really interesting way to re-frame the federal debt conversation. Instead of measuring debt as a stock to a flow (debt-to-GDP) measure it as a stock to a stock (debt-to-wealth) Wealth is less well-measured than GDP, but would be great to see more comparative research on this metric

Austin Clemens@austinclemens2.bsky.social · 3d ago

ICYMI – debt-to-GDP has passed 100% and reached WW2 levels, but debt-to-wealth in the US is 20% and ~half WW2 levels. @dsmitch28.bsky.social and I argue the most cited debt statistic doesn't account for all our resources.

Congress appropriated billions of dollars for new transit projects. Why is the Trump administration spending none of it? Why are even transit projects in red states going unfounded? New reporting in @nytimes.com (gift link): www.nytimes.com/2026/07/27/u...

Despite the enactment of the 2021 infrastructure law, total US spending on rail transit/railway construction was lower in 2022–24 than in the previous years, when adjusted for actual construction costs. And while highway spending increased briefly, it's come down again. www.urban.org/research/pub...

Bobby Kogan@bbkogan.bsky.social · last mo.

Finally turning to my next piece. Probably won't get it out till mid-August cause of all the other stuff I have going on simultaneously. I don't think people have really internalized how much non-defense discretionary has fallen in recent years. This has most of our long-term investment funding.

My new @americanprogress.bsky.social post is my tax wish for progressives: Take 50% of the time spent thinking about Taxing Corporations and instead think about taxing a different (Larger! More inequitable! Shadowy!) business type: partnerships www.americanprogress.org/article/busi...

Business Income Has Moved Beyond Corporations, and Tax Policy Must Follow

Since the 1980s, partnerships have displaced traditional C corporations as the largest source of business income, transforming business taxation and contributing to rising economic inequality.

americanprogress.org

At the heart of this is however bad you think corporations are, partnerships (a different type of business) are worse:

My newest proposal in Democracy Journal explains that progressives need to focus less on corporations and more on partnerships. I'm proposing a new "Shell Company Tax" democracyjournal.org/magazine/81/...

Cracking Down on Pass-Throughs

In 2016, a consortium of journalists exposed how a global elite including associates of Russian President Vladimir Putin, the King of Saudi Arabia, drug dealers, and others hid their wealth (legally a...

democracyjournal.org

Yeah this is a cool proposal. As Corey knows the more elaborate academic version for folks who want 20x as many words, via subch K knowitall Michael Love, is here: papers.ssrn.com/sol3/papers....

My newest proposal in Democracy Journal explains that progressives need to focus less on corporations and more on partnerships. I'm proposing a new "Shell Company Tax" democracyjournal.org/magazine/81/...

Cracking Down on Pass-Throughs

In 2016, a consortium of journalists exposed how a global elite including associates of Russian President Vladimir Putin, the King of Saudi Arabia, drug dealers, and others hid their wealth (legally a...

democracyjournal.org

Most federal government spending is historically low and projected to remain so. If you think we have a spending problem then you are talking about Social Security and Medicare Deficits are driven by low tax revenues after successive deep and deeper cuts 🔽

Bobby Kogan@bbkogan.bsky.social · 3mo ago

Do we have a spending problem? I argue no. Short 🧵 Here's a graph of all program spending EXCEPT Social Security and Medicare from 1950-present (with projections through 2056). It's already way below average, moving towards historic lows. So clearly that part of the govt isn't a "problem."

Breaking: Trump considering giving Trump more taxpayer money

The New York Times@nytimes.com · 3mo ago

Breaking News: The Justice Department is said to be considering settling a lawsuit President Trump filed against the IRS over the release of his tax returns.

Republicans are voting to add a billion dollars to the debt for a fancy ballroom for the President? What is this, Versailles? Guess we're at the point of this Administration where its motto is: "government waste is good, actually"

Bobby Kogan@bbkogan.bsky.social · 3mo ago

Final section for the "East Wing Modernization Project" - aka the ballroom Here's the section so you can read, but it provides $1 bn for security-related aspects of the ballroom It makes clear it can't be used for non-security parts of the ballroom Nonetheless, taxpayer dollars for the ballroom

They do this all the time!

David Nir@davidnir.com · 3mo ago

This line in particular makes me feel ill: "The dissent would require that the 2026 congressional elections in Louisiana be held under a map that has been held to be unconstitutional." SCOTUS' Republican majority has long required elections to be held under illegal maps—when it hurts Dems.

absolutely, and it's because we lack statehood. I realize, for obvious reasons, that most people view D.C. statehood in terms of 2 (almost certainly) Democratic senate seats, but the lack of self-governance is a real problem. Imagine if Congress had a de facto line item veto over your state budget.

Alex@alexanotherone.bsky.social · 3mo ago

It seems to me the people of Washington, DC are going through a much more deranged version of the Trump Presidency than the rest of us

Congressional tax hearing tomorrow morning with @usprogressives.bsky.social task force You'll hear @elizabethwwilkins.bsky.social (@rooseveltinstitute.org) @kristencrowell.bsky.social (@fobaction.bsky.social) @chusak.bsky.social (@americanprogress.bsky.social) Liz Watson (@afscme.bsky.social) + me

Representative Becca Balint@balint.house.gov · 4mo ago

Billionaires and large corporations are raking in record profits while working families struggle with rising costs. On Tuesday, I’m bringing together colleagues and advocates to discuss how we can ensure the ultra-wealthy finally pay their fair share. Join us: www.youtube.com/live/4LNs6oK...

Despite repeated Trump promises, Americans aren't getting a $1,000 boost to their tax refunds this year. Here's the numbers. +$335 boost this year, barely more than the +105 last year +$335 is nowhere close to +1,000, or to rising tariff and gas costs www.americanprogress.org/article/the-...

Seems pretty bad!

Catherine Rampell@crampell.bsky.social · 4mo ago

Only 23% of government workers believe they “can report a suspected violation of a law, rule, or regulation without experiencing retaliation.” That's way down form the share the prior year (72%) who said they could report suspected illegal activity without fear www.thebulwark.com/p/two-more-g...

That congestion pricing is working -- like, really really working! -- is important for the larger effort to restore faith in govt. Take big swings, get big results that people can actually feel. www.nytimes.com/2026/03/27/o...

Econ policymakers should study this poll: what do voters actually want them to focus on? Overwhelmingly, young voters say: housing Older voters say: health care all ages say: food and other necessities retirement/transp/education are in there but nothing else really matters

Brendan Duke@brendanvduke.bsky.social · 5mo ago

This point from a NYT-Sienna poll--widely considered the gold standard of published public opinion--on how voters prioritize taxes compared to health, food etc. has implications for elected officials considering spending trillions on middle-class tax cuts vs. other priorities like Medicaid and SNAP.

I'm just imagining Dave McCormick's wife demanding to see his ID whenever he comes into her bedroom

Aaron Rupar@atrupar.com · 5mo ago

Sen. Dave McCormick: "You have to have ID to have a child"

There are so many policy levers we can pull to address the #housing crisis—here's one such idea: 1 Simple Tax Policy To Create Nearly 1 Million New Multifamily Homes www.americanprogress.org/article/1-si... by @chusak.bsky.social via @americanprogress.bsky.social @taxpolicycenter.bsky.social

1 Simple Tax Policy To Create Nearly 1 Million New Multifamily Homes

Changing tax depreciation for rental apartments and duplexes could create up to 1 million new homes for rent over the next decade.

americanprogress.org

Really interesting proposal from Corey, who is deeply knowledgeable on tax policy & worth following. The problem for housing is the issues stem from state/local, so there’s little we can fix at the federal level. Short of directly building housing, this is probably the most bang for buck we can do.

Corey Husak@chusak.bsky.social · 5mo ago

New from myself and Thomas Brosy @taxpolicycenter.bsky.social : A proposal to create 1 million new homes! The housing shortage is causing skyrocketing rents. We need something to build more homes, fast. This is how: www.americanprogress.org/article/1-si...

New from myself and Thomas Brosy @taxpolicycenter.bsky.social : A proposal to create 1 million new homes! The housing shortage is causing skyrocketing rents. We need something to build more homes, fast. This is how: www.americanprogress.org/article/1-si...

1 Simple Tax Policy To Create Nearly 1 Million New Multifamily Homes

Changing tax depreciation for rental apartments and duplexes could create up to 1 million new homes for rent over the next decade.

americanprogress.org

“This is not a progressive tax plan,” Corey Husak, a tax policy expert with the Center for American Progress, told HuffPost in an interview.

HuffPost@huffpost.com · 5mo ago

Democratic senators are pitching massive tax cuts as a way to counter Donald Trump’s populist appeal.

Taxes aren't primarily a punishment for people we dislike. They are a mechanism to fund the programs that make the country less unfair. The govt lifts more than 30 million people out of poverty each year. We can and should do better than that, and we need tax revenue for that.

RM Neal @waysmeanscmte.bsky.social highlights something I've written about with the IRS "ceo" this morning-Ways and Means Republicans are wrong about tax refunds www.americanprogress.org/article/cont...

Contrary to Trump Administration Claims, Americans Won’t Receive an Average $1,000 Extra in Tax Refunds This Year

The White House and congressional Republicans’ own data show that the average 2025 tax refund will increase by much less than $1,000, with most Americans earning less than $100,000 in income seeing no...

americanprogress.org

OBBBA is a tax giveaway to the wealthy at the expense of the poor. Analysis here from @chusak.bsky.social: www.americanprogress.org/article/7-wa...

7 Ways the Big Beautiful Bill Cuts Taxes for the Rich

Overall, the Big Beautiful Bill will harm poor Americans and raise the incomes of rich Americans—driving gains for the rich through cuts to marginal tax rates and the estate tax, along with tax breaks...

americanprogress.org

Everyone should check out Bobby and Jared's new piece on what happened to our debt since 2000/2012. Its bad. Biggest takeaway and graph here

Bobby Kogan@bbkogan.bsky.social · 6mo ago

The Bush tax cuts and the Trump tax cuts are entirely to blame for our fiscal gap. Entirely? Spending projections are down relative to old projections where we didn't have a fiscal gap, not up. That is, relative to projections where there was no problem, spending is down. So it's all revenue loss.

The Bush tax cuts and the Trump tax cuts are entirely to blame for our fiscal gap. Entirely? Spending projections are down relative to old projections where we didn't have a fiscal gap, not up. That is, relative to projections where there was no problem, spending is down. So it's all revenue loss.

First, what happened? I'm looking at the fiscal gap, which measures the average primary (non-interest) deficit reduction needed to keep debt/GDP stable. The Big Beautiful Bill made that 45% worse. And if OB3's temporary provisions are made permanent, it made our fiscal situation 76% worse.

Undertaking a sweeping investigation of almost all federal funding to 14 states & D.C. – all but one led by a Democrat – is a harmful & shameful escalation of the Admin’s corrupt politicization of basic governance & suggests funding freezes may be coming. www.cnn.com/2026/01/22/p...

Trump administration orders review of federal funding in more than a dozen Democratic states | CNN Politics

The Trump administration has ordered a review of federal funding sent to more than a dozen Democratic-led states, according to multiple sources familiar with the matter.

cnn.com