Difficult to overstate how profound a failure DOGE was. Spending in FY25 was not only than in FY24 – but higher than it was projected to be when Trump took office.* The little bit of spending DOGE cut has already killed hundreds of thousands and will eventually kill millions.

Paul Krugman takes down the cult of crypto and how it’s interwoven with the cult of Trump.

CNSTAT is a critical part of our federal data infrastructure. It also provides training improve statistical practice in state and local governments and outside government.

One final thought: It's ironic that the people who (rightly) bemoaned far left calls to "defund the police" are defunding our tax police. And also diverting the few remaining compliance resources to support the president's political vendettas. 5/5

As Vanessa says, this is "great news for the nation’s money launderers." It's terrible news for compliant taxpayers. And worse news for our kids and grandkids who will be burdened with even more government debt (from reduced tax collections) and a broken tax system. 4/

There's been a huge exodus of senior staff--the people who know how to write forms and regulations--and IRS dysfunction could lead more staff to resign or retire. The best IRS tax lawyers have far more lucrative opportunities at private firms. 3/

Huge staff cuts and lengthy government shutdown make it likely IRS won't be able to adequately reflect OBBBA tax changes in forms and instructions. If sloppy documentation confuses you about the new law, good luck getting your phone calls answered. 2/

From Vanessa Williamson and Ellis Chen: The IRS has been crippled by the DOGE cuts, the shutdown, diversion of tax enforcement people to catch Metro fare jumpers, politicization, and malign neglect. 2015 tax season will likely be late and slow. 1/

PS, I retired on Friday. Thanks to all my colleagues, friends, and online pen pals who have made this so rewarding and fun. Now I’m looking forward to a life of full leisure.

My final TaxVox blog: Playing Budget Roulette is a Bad Bet. There’s so much we don’t know about how our fiscal profligacy will play out. Unless we change course, a debt crisis is likely, and it could be catastrophic. https://t.co/l8jXWy1M6J

The 2025 reconciliation act increased the Child and Dependent Care Tax Credit (CDCTC). But TPC estimates confirm that relatively few families with children will benefit from these changes, with almost no low-income families benefitting. https://t.co/JrsunJ2yJa

Nobody could see this coming (unless they were vaguely aware of human nature and the history of sport betting scandals). But the sport betting biz is booming, so it's all good. NCAA investigating 13 ex-players, four others over sports betting

For over 50 years, CBO has informed Congress’s budget and economic policy process through nonpartisan expert analysis. TPC is better for having CBO has a role model.

Trump Vows To Nationalize As Many Private Companies As It Takes To Defeat Socialism https://t.co/bhnEW6OP2K

As a staffer in the 1980s, I called CBO's first director "the Blessed Alice" because people always referred to her in hushed, reverential tones. This is the first milestone anniversary since her death. Her legacy for CBO and public policy is eternal. 2/2

The @USCBO is a national treasure. Today, former directors and staff will host a gathering to celebrate its 50th anniversary. CBO has been a huge influence on the @taxpolicycenter. 1/2 https://t.co/UX8x4C7X3h

A careful study of every populist episode since 1900 finds catastrophic consequences, which play out slowly. On average, incomes fall behind by nearly 15% over 15 years. For the U.S., this is a cost of about $13k per person per year. Over a lifetime, that's million bucks.

Visitors to our nation’s capital will now get to experience life in a police state. That might be more disturbing to tourists than seeing the occasional homeless person.

OBBBA will also worsen social security’s solvency problems by reducing the taxes relatively higher-income seniors pay in their benefits (and deporting undocumented workers who pay social security tax but receive no benefits).

Some conservative groups are asking Trump to index the basis of capital gains for inflation by executive order (again). So, I wrote a piece arguing that this is a bad idea (again).