Online Simulation Invites the Public to Help Policymakers Set Federal Revenue and Spending Priorities

WASHINGTON, May 16, 2023 /PRNewswire/ -- Today the Bipartisan Policy Center, in collaboration with Balancing Act by Polco, launched an updated version of the Federal Balancing Act budget simulation tool that lets the public try their hand at creating a budget to break through Washington's recurring gridlock over our nation's fiscal challenges.

Found at FederalBalancingAct.com, the free interactive online tool shows the long-term impacts of today's policy choices. Simulation users can increase or decrease federal spending and revenue across several budget categories — from veterans' benefits to taxes on corporate profits — to see both the immediate budget impact and the projected impact 25 years out. With additional information offered throughout, the simulation builds understanding and promotes constructive conversations on federal spending.

"The federal budget simulator gets to the heart of our country's fiscal health by showing participants the tough choices policymakers face, and that we didn't accumulate a $31 trillion-dollar debt overnight," said Rachel Snyderman, senior associate director of economic policy at BPC. "The simulation helps frame a fact-based conversation about the impact of compounding debt or savings across several decades, and the power that voters have to elevate their voice and bring actionable ideas to their elected leaders."

Federal Balancing Act begins with a breakdown of the Congressional Budget Office's outlook for the current fiscal year, which projects a federal budget deficit of $1.5 trillion in 2023. Users can also see the potential impact of changes to policies including raising Social Security's full retirement age or creating a tax on wealth.

"People want to understand the process for collecting and spending their federal tax dollars, and increasingly, they want to participate in decision-making," said Chris Adams, president of Balancing Act.

BPC and Balancing Act plan to report regularly on what is learned about public preferences from the simulator. For more information, visit Federal Balancing Act.

About the Bipartisan Policy Center

The Bipartisan Policy Center is a mission-focused organization helping policymakers work across party lines to craft bipartisan solutions.

About Balancing Act by Polco

Balancing Act by Polco is a maker of award-winning public engagement software enabling government leaders, and public and private stakeholders to tackle complex challenges through productive public input.

CONTACT:
Stacey Hartmann
Keeton Public Relations
[email protected]

SOURCE Polco; Bipartisan Policy Center