Debate:Solving the deficit
In late 2012 and early 2013, public policy debate is focusing on balancing the federal budget. This page is to provide CP editors with an opportunity to express their views on how Congress could balance the budget over the long term. The page is divided into two sections: revenue enhancements and spending reductions. This is an opportunity for the "best of the public" to share their suggestions. Please sign your comments.
- End the tax exclusion for municipal bond interest income. If a state or local government wants to borrow money, it should pay market rates rather than be subsidized by federal taxpayers. Existing bonds would have to be grandfathered.
- End all local revenue set-asides. All federal revenues should go into the Treasury and be allocated by Congress. For example, the oil & gas royalties from the federal offshore should not be shared with Louisiana, Alabama and Mississippi. The excise tax on rum should not be shared with Puerto Rico and the Virgin Islands. Wschact 10:46, 2 January 2013 (EST)
- Greatly reduce federal block grants to the states. If a state wants to impose a tax to fund its services, it may do so, but it should not expect the Congress to fund state programs with federal tax dollars.
- End federal subsidies of air travel (including airports). Wschact 10:46, 2 January 2013 (EST)