Research report

Political leaders and commentators frequently claim that the policies they favor will make the United States more competitive, without defining what competiveness between countries means. This paper defines competitiveness as a contest between nations for scarce and mobile resources and explores...

September 19, 2012
Eric Toder
Research report

We present new estimates of the budget outlook, incorporating the latest projections by the Congressional Budget Office. Although the official budget figures have improved relative to a year ago (primarily as a result of last summer's debt-limit deal and lower interest rate projections),...

February 17, 2012
Alan J. AuerbachWilliam G. Gale
Research report

The paper describes the current U. S. fiscal problems showing that without significant changes in revenue and spending policies, the country is headed for a sovereign debt crisis similar to that afflicting countries in Southern Europe. Various options for stabilizing the debt-GDP ratio are...

October 16, 2012
John L. PalmerRudolph G. Penner
Research report

This paper examines the fiscal outlook and tax reform options in the United States. The major conclusions include: the United States faces a substantial fiscal shortfall in the medium- and long-term; both spending cuts and tax increases should contribute to the solution; tax increases need not...

November 29, 2012
Samuel BrownWilliam G. Gale
Research report

The fiscal cliff debate culminated in the passage of the American Taxpayer Relief Act of 2012 (ATRA). ATRA makes permanent most of the tax cuts enacted in 2001 and 2003, permanently patches the alternative minimum tax, extends for five years the enhancements to individual income tax credits...

January 8, 2013
James R. NunnsJeffrey Rohaly
Research report

The Congressional Budget Office released its latest Budget and Economic Outlook earlier this week. As always, the Outlook provides insight into the fiscal status of the federal government. The Outlook shows that, while we do not face an imminent budget crisis, we are not out of the woods. The 10...

February 7, 2013
William G. Gale
Research report

The Bipartisan Policy Center asked TPC to estimate a proposal to replace the excise tax on high-cost health insurance plans with a limit on the exclusion for employer-provided health benefits and repeal of medical flexible spending accounts. TPC estimates the BPC proposal would increase revenues...

July 17, 2015
Gordon B. MerminEric Toder
Research report

Consider an employer who bears an equal cost for their employees and must choose between the proposed subsidy for those on the exchange and the current subsidy for those who get employer-provided health insurance. What are the consequences for the employee? This article discusses the results for...

December 16, 2009
Stephanie RennaneC. Eugene Steuerle
Research report

Unless Congress changes the law, the federal estate tax will disappear on January 1, 2010. For the first time since the 1916 inception of the tax, the estate of anyone dying in 2010 will go to heirs tax free, a result of the 2001 tax law that phased out the estate tax over 10 years. But that law...

December 23, 2009
Roberton C. Williams
Research report

William Gale and Benjamin Harris give the president a B, noting their approval of the administration's aggressive use of tax and fiscal policy in pursuing the paramount goal of saving the economy-but also concern about the resulting lack of progress in efforts to reform the tax and fiscal system...

January 20, 2010
William G. GaleBenjamin H. Harris