Bipartisan Policy Center

The 2017 Tax Cuts and Jobs Act was the most substantial overhaul of the individual tax code since 1986. What most Americans don’t realize is that many rules in the federal tax code will expire at the end of 2025. TCJA made seven major changes for individuals/households, including rates, personal exemptions, the standard deduction, and the child tax credit. It also made eight large changes to businesses, including the corporate tax rate and pass-through deduction. But what do those changes mean? And how could they impact you and/or your business? For help navigating complex tax policy in the U.S., we created an online hub with a 10-part series on TCJA impacts for individuals/households and businesses. Our explainers cover the impact of these changes by area, so you can easily find information about these major policy changes and their impact. https://bit.ly/4c5neg6 #Bipartisan #TCJA #Tax

The Peter G. Peterson Foundation asked us how we can stabilize our national debt. 📈 Here’s our top 3️⃣ recommendations. 1. Pay for TCJA Extension – the $5 trillion elephant in the room that Congress must address next year  2. Broad based tax reform – tax proposals that increase revenue while minimizing harm to workers and businesses and modernize the tax code  3. Strengthen Social Security – a balanced package of cost reductions (gradually increase the full retirement age, indexing cost-of-living adjustments to a more appropriate price index, and capping spousal benefits) and targeted benefit enhancements (progressive benefit formula, robust minimum benefit, and improved survivors' benefits) Our blueprint offers policy proposals to reduce the level of debt-to-gross domestic product and win bipartisan support. Bill Hoagland, Jason Fichtner, Ph.D.,Shai Akabas,Rachel B. Snyderman, Emerson Sprick, and Andrew Lautz

Two weeks ago, we hosted a bipartisan group of U.S. Senators and Representatives to discuss how the U.S. can move forward on climate and trade. We discussed U.S. carbon advantage, merging climate and trade policy, and proposed legislation like the PROVE IT Act. Watch for highlights. #Bipartisan #Climate #Carbon #PROVEITAct #ClimateandTrade #ClimateandTrade24

Telehealth has become a permanent fixture of our nation’s health care delivery.  If Congress doesn’t act, Medicare’s telehealth flexibilities will expire at the end of 2024.  While an extension is likely, it is critical Congress commit to crafting policies that 1. Establish a more sustainable, long-term telehealth reimbursement strategy  2. Ensure high quality virtual care through robust oversight and quality assurance  How do we go about doing that? We researched and interviewed experts in the field to find answers.   To develop a long-term reimbursement strategy: ✅ Congress should require Centers for Medicare & Medicaid Services to study the cost of telehealth, propose a long-term reimbursement strategy, and submit a report on its findings by June 2026.   ✅ CMS should propose new reimbursement models that account for virtual care services delivered as part of a hybrid model of care (in-person, plus virtual).   ✅ CMS should permanently maintain all telehealth flexibilities for providers participating in value-based payment arrangements with two-sided risk. To ensure high-quality virtual care: ✅ Congress should ensure that the HHS Office of Inspector General at the U.S. Department of Health and Human Services (HHS) and CMS have sufficient funding to promote high-quality telehealth and track fraud, waste, and abuse.   ✅ CMS and the Substance Abuse and Mental Health Services Administration (SAMHSA) should work with medical specialty societies and states to develop and promote best practices for prescribing controlled substances via telehealth.   ✅ CMS should require that providers offering audio-only telehealth services attest that they have the capabilities to deliver two-way video visits at the time of service and that they offered the patient the choice of a video visit, but the patient was either unable or unwilling to complete a video visit.   ✅ CMS should promote continuity of care by requiring telehealth providers to have protocols for sharing progress notes with a patient’s usual care team. ✅ CMS should also require that providers offering telehealth services have the capacity to deliver or refer patients to in person care, particularly in emergency situations.   ✅ Congress and CMS should establish guardrails around providers ordering high-cost services for patients via telehealth.   ✅ CMS should enhance its ability to evaluate the cost and quality of telehealth by 1) prohibiting incident to billing by any provider who can bill Medicare directly, and 2) establishing a new modifier or provider category for fully virtual providers. There is a strong case to be made for a permanent telehealth policy where the evidence warrants it. Permanent policy creates stability for patients and providers and offers the certainty needed for health systems and practices to invest in technology.  By following our recommendations, telehealth can continue to be a transformative force in health care.  #Bipartisan #Telehealth

2025 will be the biggest year for tax policy in Washington since the enactment of the 2017 Tax Cuts and Jobs Act (TCJA). With trillions of dollars of tax policies expiring at the end of next year, all eyes will be on the nation's tax code. At Bipartisan Policy Center, we've created a new tax landing page that will serve as a hub for policymakers, staff, media, and the public on all sorts of tax policy questions set to arise this year and next: https://lnkd.in/eiQdyEK5 My colleague Arianna Fano and I have also released a new, 10-part series on TCJA's changes and how they affected the budget and the economy. Have questions about TCJA's impact on individual tax rates? The standard deduction? The Child Tax Credit? The corporate tax rate? Estate taxes? We've got you covered, with much more to come!

We are excited to expand our board with visionary leaders committed to bipartisanship and policy innovation. Welcome Madhu Beriwal (IEM), Hugh Frater (Vessel Technologies, Inc.), Terri Ludwig (Ballmer Group), and Michael A. Nutter. https://bit.ly/4cBixMd #Bipartisan #NewBoardMembers

This has often mistakenly been taken to mean the program will go bust—a fundamental misunderstanding that fueled fears of a full-on collapse in Social Security, according to Jason Fichtner, Ph.D. Read more via Joe Pinsker of The Wall Street Journal. 👇

Bipartisan Policy Center President and CEO Margaret Spellings issued the following statement on the assassination attempt on former President Trump. Read the rest. https://bit.ly/3zItU6r 

In this week's The Note newsletter, BPC President and CEO Margaret Spellings and BPC Action President Michele Stockwell write energy progress, Chevron doctrine’s demise, and the 25th amendment.

🧐 How much do you know about the 25th Amendment?     Check out our explainer for answers to:  1. When and why was the 25th Amendment ratified?  2. What happens if a president is temporarily unable to perform the duties of the office?  3. What happens if a president is permanently incapacitated and unable to perform the duties of the office?  4. How is a vice-presidential vacancy filled?  5. Can a president be removed from office against their will with the 25th Amendment?  6. How many times has the 25th Amendment been invoked? https://bit.ly/4cSDUZ8