Federal, state, and local government officials are increasingly paying attention to reforms of fines and fees. These constitute a small share of total revenues, but they can be particularly harmful because of unjust policing and sentencing practices. This research report first explores how much...
Public benefit programs have the potential to help stabilize families when their income drops and can provide support as parents enter or reenter the workforce. As a family’s earnings rise, though, those earnings increases are often offset by declines in public...
The Urban-Brookings Tax Policy Center (TPC) large-scale microsimulation model produces estimates of how current and proposed tax policies will affect federal revenues and the distribution of tax burdens by income. The model is similar to those used by the Congressional...
President Biden’s fiscal year 2022 budget proposals were big and diffuse. They, and much of what Congress has considered since then, would also often be temporary. Despite once-in-a-generation policy changes, the real growth in federal spending that either administration or congressional...
State tax revenues saw large swings since the onset of the pandemic, in part because of government actions and behavioral responses to mitigate virus exposure.
States reported strong revenue growth in the second quarter of 2021, but that is largely because of the lower base in 2020. Still...
The child tax credit (CTC) has grown to become a core component of American family tax and welfare policy. Temporary expansions made the credit fully refundable in 2021 – even very low-income families could receive the maximum benefit. On a conceptual level, full...
In the wake of the COVID-19 pandemic, city leaders are working to tackle structural inequities in access to wealth and opportunity. An infusion of federal dollars from the Infrastructure Investment and Jobs Act and American Rescue Plan Act provides an opportunity to rethink past budget choices....
By examining federal aid to state and local governments during the Great Recession, we draw lessons that can inform current state and local efforts to build an inclusive economic recovery from the COVID-19 pandemic. We primarily compare the American Recovery and Reinvestment Act of 2009 with the...
The American Rescue Plan Act of 2021 (ARP) temporarily increased the child tax credit (CTC), made the credit fully refundable, and authorized the IRS to issue up to half the credit as an advance monthly payment beginning in July 2021. The IRS reports that nearly 61 million children received the...
Mainstream public finance research has largely ignored racial issues. This paper calls on public finance economists to explore racial issues more extensively. The obvious reasons are to understand the effects of inequitable and inefficient policies, help develop remedies,...
Following the Money on Fines and Fees
Federal, state, and local government officials are increasingly paying attention to reforms of fines and fees. These constitute a small share of total revenues, but they can be particularly harmful because of unjust policing and sentencing practices. This research report first explores how much...
Balancing at the Edge of the Cliff
Public benefit programs have the potential to help stabilize families when their income drops and can provide support as parents enter or reenter the workforce. As a family’s earnings rise, though, those earnings increases are often offset by declines in public...
TPC's 2021 Tax Model Technical Updates
The Urban-Brookings Tax Policy Center (TPC) large-scale microsimulation model produces estimates of how current and proposed tax policies will affect federal revenues and the distribution of tax burdens by income. The model is similar to those used by the Congressional...
How Revolutionary Were President Biden’s Budget Proposals?
President Biden’s fiscal year 2022 budget proposals were big and diffuse. They, and much of what Congress has considered since then, would also often be temporary. Despite once-in-a-generation policy changes, the real growth in federal spending that either administration or congressional...
State Tax and Economic Review, 2021 Quarter 2
State tax revenues saw large swings since the onset of the pandemic, in part because of government actions and behavioral responses to mitigate virus exposure.
States reported strong revenue growth in the second quarter of 2021, but that is largely because of the lower base in 2020. Still...
Issues in Child Benefit Administration in the United States
The child tax credit (CTC) has grown to become a core component of American family tax and welfare policy. Temporary expansions made the credit fully refundable in 2021 – even very low-income families could receive the maximum benefit. On a conceptual level, full...
More Than Fines and Fees: Incorporating Equity into City Revenue Strategies
In the wake of the COVID-19 pandemic, city leaders are working to tackle structural inequities in access to wealth and opportunity. An infusion of federal dollars from the Infrastructure Investment and Jobs Act and American Rescue Plan Act provides an opportunity to rethink past budget choices....
Lessons from the American Recovery and Reinvestment Act for an Inclusive Recovery from the Pandemic
By examining federal aid to state and local governments during the Great Recession, we draw lessons that can inform current state and local efforts to build an inclusive economic recovery from the COVID-19 pandemic. We primarily compare the American Recovery and Reinvestment Act of 2009 with the...
Who Has Received Advance Child Tax Credit Payments, and How Were the Payments Used?
The American Rescue Plan Act of 2021 (ARP) temporarily increased the child tax credit (CTC), made the credit fully refundable, and authorized the IRS to issue up to half the credit as an advance monthly payment beginning in July 2021. The IRS reports that nearly 61 million children received the...
Public Finance and Racism
Mainstream public finance research has largely ignored racial issues. This paper calls on public finance economists to explore racial issues more extensively. The obvious reasons are to understand the effects of inequitable and inefficient policies, help develop remedies,...