The Tax Policy Center Newsletter
January 29, 2008
Economic Stimulus: What Will Work, and What Will Not
Thursday, January 31, 2008, 9:00 AM to 10:30 AM
Urban Institute, 5th Floor
2100 M Street, N.W., Washington, DC
A stimulus bill is moving rapidly through the House and the Senate. But in their rush to get a bill passed, are lawmakers pursuing the most effective ways to both stabilize the economy and get money to those who need it most? The Tax Policy Center has brought together some of Washington’s top tax experts to discuss the impact of stimulus on families, businesses, state and local governments, and the overall economy. These experts take a hard look at the plan offered by President Bush and the House as well as a competing proposal coming out of the Senate. This panel of experts will answer these and other questions:
- Is fiscal stimulus warranted and likely to be effective?
- What role, if any, should tax cuts for individuals play?
- How do corporate tax cuts fit into a package?
- Should assistance to state and local governments be included?
Panelists will include:
- Nada Eissa, Associate Professor, Georgetown University; Visiting Fellow, Tax Policy Center
- Doug Elmendorf, Senior Fellow, Brookings Institution
- Doug Holtz-Eakin, former Director, Congressional Budget Office Economic adviser, McCain for President
- Kim Rueben, Senior Research Associate, Tax Policy Center
- Moderator: Howard Gleckman, Senior Research Associate, Tax Policy Center Editor, TaxVox
A light breakfast will be served.
Please register online or contact Julianna Koch at 202-261-5538 or info@taxpolicycenter.org.
Updated tables for the House stimulus proposal and new tables for the Senate proposal have been posted. See the tables.
This testimony urges Congress to enact a stimulus package quickly and elaborates on the following points:
- A well-designed stimulus package is needed now as an insurance policy to reduce the risk of recession or mitigate its severity if it occurs
- The compromise worked out by the President and Speaker Pelosi is well-designed to stimulate spending quickly, because it focuses on low- and moderate income people, and should be enacted as soon as possible
- The Congress should resist the temptation to delay the package by adding other elements, however worthy, at this time
- Risks posed by the package—that it will aggravate inflation or add to the long-run deficit—are worth taking to help stabilize the economy in the months ahead
Read the testimony
Six months ago, states were predicting balanced budgets and surpluses. Virtually all had surpluses at the end of fiscal year 2007 and more than half had ending balances equaling at least 10 percent of their general funds. Governors and legislatures were happily talking about property tax relief and expanding medical coverage to the uninsured. How times have changed. According to the Center on Budget and Policy Priorities about half of all states now expect a budget shortfall in FY '09, with the number growing as more states release their budgets for the coming year.
Continue reading at TaxVox
newsletter archive
