Distributional analyses play a prominent role in policy discussions. Both tax and transfer policy have important distributional consequences, but traditionally they have been examined separately. This report describes a new methodology for integrated distributional analysis that imports results...
Bill Gale discusses the current tax reform initiatives by Congress and the Administration and outlines some issues Republicans may face when trying to pass tax legislation in this...
This paper presents estimates of the macroeconomic effects, and resulting dynamic impact on revenues, of the House GOP tax plan announced in June 2016. The estimates were produced in two ways. One set of estimates uses a combination of TPC’s Keynesian model (to project short-run effects on...
Bad framing of fiscal policy contributes to a poor allocation of money collected and spent. Almost all real growth in government goes automatically to health, retirement and tax subsidies, while spending on children, the work force, and infrastructure are scheduled for decline as a share of...
We usually think of lame ducks as politicians who have lost influence to their successors, but the next president could enter office with his or her influence already lost to his or her predecessors. The growing revenues that accompany economic growth traditionally provide a way for government...
Former CBO director Doug Elmendorf recently argued that Congress should account for macroeconomic feedback when scoring major tax and spending policies. In this brief, Donald Marron agrees, arguing that CBO and JCT can implement such dynamic scoring in an objective, nonpartisan manner. Dynamic...
Many elected officials emphasize reforms that would promote opportunity, but until they define how success would be measured, progress is unlikely. The federal government is scheduled to spend close to $15,000 more per household annually in another 10 years, but little of that increase goes to...
Many elected officials emphasize reforms that would promote opportunity, but until they define how success would be measured, progress is unlikely. The federal government is scheduled to spend close to $15,000 more per household annually in another 10 years, but little of that increase goes to...
We examine how tax policies alter investment incentives, with a particular focus on startup and innovative businesses. Consistent with prior work, we find that existing policies impose widely varying effective tax rates on investments in different industries and activities, favor debt over...
The United States has a worldwide system that taxes the dividends its resident multinational corporations receive from their foreign affiliates, while most other countries have territorial systems that exempt these dividends. This report examines the experience of four countries – two with long-...
A Methodology for Integrated Distributional Analysis of Taxes and Transfers
Distributional analyses play a prominent role in policy discussions. Both tax and transfer policy have important distributional consequences, but traditionally they have been examined separately. This report describes a new methodology for integrated distributional analysis that imports results...
Can Republicans Thread the Needle on Tax Policy?
Bill Gale discusses the current tax reform initiatives by Congress and the Administration and outlines some issues Republicans may face when trying to pass tax legislation in this...
Dynamic Analysis of the House GOP Tax Plan: An Update
This paper presents estimates of the macroeconomic effects, and resulting dynamic impact on revenues, of the House GOP tax plan announced in June 2016. The estimates were produced in two ways. One set of estimates uses a combination of TPC’s Keynesian model (to project short-run effects on...
How Budget Offices Should Reframe Our Long-Term Budget Problems
Bad framing of fiscal policy contributes to a poor allocation of money collected and spent. Almost all real growth in government goes automatically to health, retirement and tax subsidies, while spending on children, the work force, and infrastructure are scheduled for decline as a share of...
A Lame Duck President in 2017?
We usually think of lame ducks as politicians who have lost influence to their successors, but the next president could enter office with his or her influence already lost to his or her predecessors. The growing revenues that accompany economic growth traditionally provide a way for government...
Thoughts on Dynamic Scoring of Fiscal Policies
Former CBO director Doug Elmendorf recently argued that Congress should account for macroeconomic feedback when scoring major tax and spending policies. In this brief, Donald Marron agrees, arguing that CBO and JCT can implement such dynamic scoring in an objective, nonpartisan manner. Dynamic...
Prioritizing Opportunity for All in the Federal Budget: Executive Summary
Many elected officials emphasize reforms that would promote opportunity, but until they define how success would be measured, progress is unlikely. The federal government is scheduled to spend close to $15,000 more per household annually in another 10 years, but little of that increase goes to...
Prioritizing Opportunity for All in the Federal Budget: A Key to Both Growth in and Greater Equality of Earnings and Wealth
Many elected officials emphasize reforms that would promote opportunity, but until they define how success would be measured, progress is unlikely. The federal government is scheduled to spend close to $15,000 more per household annually in another 10 years, but little of that increase goes to...
Tax Policy and Investment by Startups and Innovative Firms
We examine how tax policies alter investment incentives, with a particular focus on startup and innovative businesses. Consistent with prior work, we find that existing policies impose widely varying effective tax rates on investments in different industries and activities, favor debt over...
Lessons the United States Can Learn From Other Countries' Territorial Systems for Taxing Income of Multinational Corporations
The United States has a worldwide system that taxes the dividends its resident multinational corporations receive from their foreign affiliates, while most other countries have territorial systems that exempt these dividends. This report examines the experience of four countries – two with long-...