Publications by Topic
Topic: Economic Stimulus
What's blocking the recovery (Commentary)
Author(s):
Alan Berube , Karen Dynan , Ted Gayer
The Washington Post. The economy's expansion last quarter, for the first time in more than a year, has prompted much speculation that the recession is over. This turning point, however, simply marks an end to the decline in activity.
Published: 11/20/09
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Personal savings need a boost (Commentary)
Author(s):
Leonard E. Burman
The Washington Times. America's days of economic dominance are numbered because we don't save. The government is borrowing like crazy, and households aren't doing much better. The personal savings rate -- the share of after-tax income that people set aside for a rainy day -- has been falling like a stone since the early 1980s.
Published: 11/10/09
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Activist Fiscal Policy to Stabilize Economic Activity (Research Report)
Author(s):
Alan J. Auerbach , William G. Gale
Facing the most severe recession since the 1930s, and probably the longest as well, the
U.S. government has adopted an aggressive countercyclical fiscal policy stance, beginning with the “Economic Stimulus Act of 2008” in February of that year, shortly after the recession’s designated starting date, and followed one year later by the much larger “American Recovery and Reinvestment Tax Act of 2009.” These two bills, adopted under different presidents, both contained temporary tax rebates for households and temporary investment incentives for firms, indicating at least limited bipartisan acceptance of these approaches to countercyclical stimulus.
Published: 08/24/09
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Here Comes the Next Fiscal Crisis (Commentary)
Author(s):
Alan J. Auerbach , William G. Gale
Los Angeles Times op-ed, July 8, 2009. In the immediate future, policymakers will face a delicate balancing act between encouraging economic recovery and establishing fiscal sustainability. Alan J. Auerbach and William G. Gale examine the economic challenges facing the U.S.
Published: 07/10/09
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Give Up A Benefit, Gain Jobs (Commentary)
Author(s):
Leonard E. Burman
Washington Post op-ed, July 9, 2009. Employer-paid health insurance is entirely tax-free — a break that will cost the Treasury about $250 billion this year. Len Burman looks at tax-free health insurance provided by employers.
Published: 07/10/09
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Who Pays No Income Tax? (Article/Tax Facts)
Author(s):
Roberton Williams
Nearly half of all tax units will pay no income tax in 2009. The fraction of non-taxpayers differs widely, depending on income, tax filing status, and whether the unit is elderly or contains children.
Published: 07/02/09
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An Update on the Economic Crisis and the Fiscal Crisis: 2009 and Beyond (Research Report)
Author(s):
Alan J. Auerbach , William G. Gale
his paper reviews recent economic events and their impact on U.S. fiscal performance and prospects. We highlight the historic nature of the 2009 budget outcomes, the unsustainability of plausible ten-year budget projections, and the increasingly dire long-term fiscal problem. These conditions leave federal policy makers with difficult choices. Over the next several years, as the recession ends and the economy recovers, policy makers will face a delicate balancing act between encouraging economic recovery and establishing fiscal sustainability. Even if a successful recovery ensues, however, medium-term and long-term fiscal problems have become increasingly urgent.
Published: 06/25/09
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The Economic Crisis and the Fiscal Crisis: 2009 and Beyond (Research Report)
Author(s):
Alan J. Auerbach , William G. Gale
In 2009, the federal deficit will be larger as a share of the economy than at any time since the 1940s. After 2009, we project an average deficit of $1 trillion per year for the next 10 years, under optimistic assumptions. The longer-run picture is even bleaker, with a fiscal gap of 7-9 percent of GDP -- between $1 trillion and $1.3 trillion annually in current dollars. Recent trends in credit default swap markets suggest that although fiscal policy problems are usually described as medium- and long-term issues, these problems may be upon us much sooner than previously expected.
Published: 02/19/09
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Tax Stimulus Report Card: Conference Bill (Research Report)
Author(s):
Rosanne Altshuler , Leonard E. Burman , Howard Gleckman , Dan Halperin , Benjamin H. Harris , Elaine Maag , Kim Rueben , Eric Toder , Roberton Williams
This report card evaluates the provisions of the Finance and Ways & Means Committees' conference tax stimulus bill (the "American Recovery and Reinvestment Tax Act of 2009"). The evaluation is preliminary and does not include all of the provisions in the bill most notably we omit provisions related to state and local debt and recovery zone credits. TPC will update the report card if significant changes occur before Congress passes the bill.
Published: 02/13/09
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Tax Stimulus Report Card: Comparing the House and Senate Bills (Research Report)
Author(s):
Rosanne Altshuler , Howard Gleckman , Roberton Williams
This report card compares the provisions of the House and Senate tax stimulus bills (the "American Recovery and Reinvestment Tax Plan of 2009"). The combined evaluation is preliminary and does not include all of the provisions in the bill - most notably we omit provisions related to state and local debt and recovery zone credits. TPC will update the report card as we learn more about specific provisions and as the stimulus bills move through Congress.
Published: 02/03/09
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