Tax Policy Center

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Peter Orszag

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Research report

This paper examines the economic impacts of the Bush Administration's proposal to make its recent tax cuts permanent. Making the tax cuts permanent would be regressive and would dig a fiscal hole over the next 75 years that is as big as the combined social security and medicare trust fund...

March 8, 2004
William G. GalePeter Orszag
Research report

On February 2, the Bush administration released its budget proposals for fiscal years 2005-2009. This article provides initial analysis of the budget, with several interesting conclusions.

February 23, 2004
Peter OrszagWilliam G. Gale
Research report

The Congressional Budget Office (2004) has released new baseline budget projections, covering fiscal years 2005-2014. This article examines the baseline CBO projections, adjusts the official data in ways that more accurately reflect the current trajectory of tax and spending policies, and...

February 16, 2004
Peter OrszagWilliam G. Gale
Research report

In his FY2005 budget, released Monday, President Bush proposes a set of new tax-preferred saving accounts (which were first presented in last year's budget). Under the Administration's proposal, two new types of individual accountscalled Lifetime Saving Accounts (LSAs) and Retirement Saving...

February 4, 2004
Leonard E. BurmanWilliam G. GalePeter Orszag
Research report

In a tax system with increasing marginal tax rates, the tax increase from a boost to income is at least equal to the tax reduction from a decline in income and is larger if the change in income crosses a marginal tax bracket. As a result, people with volatile incomes may pay more tax than people...

November 24, 2003
Peter Orszag
Research report

The Congressional Budget Office's midyear update of the economic and budget outlook, released in late August, provides an opportunity to glean new perspectives on the fiscal status of the federal government. In a prior article, we adjusted the baseline projections to provide more appropriate...

October 6, 2003
William G. GalePeter Orszag
Research report

The CBO's new budget update provides the opportunity to reassess fiscal prospects and reconsider policy options. This paper examines the baseline CBO projections and adjusts the official data in ways that we believe more accurately reflect the current trajectory of tax and spending policies and...

September 22, 2003
William G. GalePeter Orszag
Research report

The effects of income tax changes on the economy and the distribution of after-tax income depend in part on the population that does not file a tax return or that does file a return but owes little or no net income tax liability. These types of tax units featured prominently in the debate over...

August 4, 2003
Peter OrszagMatthew Hall
Research report

A variety of recent studies have found that the United States faces a substantial fiscal gap -- that is, a sizable imbalance between projected federal outlays and receipts. A recent study by Boskin (2003) suggests these findings are overstated because they largely or entirely omit projected...

July 28, 2003
Alan J. AuerbachWilliam G. GalePeter Orszag