Taxing Times on the Campaign Trail

First Tuesday Forum

April 6, 2004
Urban Institute
2100 M Street, NW
12:00-1:30 p.m.

Fourth in the Urban Institute's First Tuesday Series Examining Key Election Issues

Panelists:

• Jodie Allen, managing editor, U.S. News and World Report (moderator)
• Michael Bloomfield, executive vice president and managing director, The Mellman Group and consultant to Senators Jon Corzine (D-NJ) and Harry Reid (D-NV)
• Leonard Burman, senior fellow, Urban Institute and co-director,Urban-Brookings Tax Policy Center
• Jane Gravelle, senior specialist in economic policy, Congressional Research Service
• Others to be announced

Between 2001 and 2004, President Bush has signed into law tax cuts totaling more than $1.7 trillion. His fiscal 2005 budget proposed additional cuts of $1.1 trillion through 2014. House Ways and Means Chairman Bill Thomas sought $128 billion in tax cuts over ten years for businesses, especially those engaged in manufacturing and overseas operations. The cost would be partially offset by $60 billion in anti-tax shelter provisions. Meanwhile, Democratic presidential candidate John Kerry was campaigning to repeal the Bush tax cuts for people earning more than $200,000 a year, institute a new $4,000-per-year tuition tax credit, and boost tax incentives for domestic businesses and those that increase hiring.

The Urban Institute's special 2004 First Tuesday series scrutinized significant economic and social policy issues confronting voters continues with a focus on taxes. This panel asked questions such as:

• What role does the tax system play in the flight of jobs overseas?
• Do rich and poor pay their fair share of the tax burden?
• Should tax increases be part of the solution to our budget deficits or are further tax cuts in order?
• How will candidates respond on the campaign trail?