Tax Policy Center

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William G. Gale

Codirector

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Research report

The existence of small and inactive accounts is a largely inevitable feature of the US retirement saving system, which features employer-based retirement plans, individually managed accounts, and automatic enrollment. We consider the issues raised by these accounts, including the...

September 21, 2021
David C. JohnJ. Mark IwryChristopher PulliamWilliam G. Gale
Brief

The existence of small and inactive accounts is a largely inevitable feature of the US retirement saving system, which features employer-based retirement plans, individually managed accounts, and automatic enrollment. We consider the issues raised by these accounts, including the...

September 21, 2021
J. Mark IwryChristopher PulliamWilliam G. GaleDavid C. John
Research report

The Tax Cuts and Jobs Act of 2017 (TCJA) instituted the most substantial changes in taxation in decades and was designed to boost the economy via supply-side incentives. This paper reviews these changes and examines the impacts on economic aggregates through 2019. The Act clearly reduced revenue...

July 6, 2021
William G. GaleClaire Haldeman
Brief

This policy brief shows that the COVID-19 pandemic and associated policy responses substantially raised federal deficits, but only on a temporary basis. We project that the debt-to-GDP ratio, currently 98 percent, will rise to 190 percent in 2050 under current law, compared to a pre-COVID...

November 23, 2020
Alan J. AuerbachWilliam G. Gale
Brief

The future fiscal and economic health of the United States depends on its ability to increase revenues. With high and rising public debt, an aging population that will place increasing demands on federal spending, and a need for new investments in infrastructure, research and development, and...

October 2, 2020
William G. Gale
Research report

To raise revenue in a progressive, efficient, and administrable manner, this chapter proposes a new national consumption tax: a broad-based credit-invoice value-added tax (VAT). Th e proposal comes with several qualifications: the VAT should complement, not substitute for, new direct taxes on...

September 30, 2020
William G. Gale
Brief

This policy brief summarizes the impact of traditional individual retirement accounts and Roth individual retirement accounts on personal choices and on government finances. Although the accounts are equivalent under certain circumstances, in practice they often differ in important ways for both...

September 5, 2019
Leonard E. BurmanWilliam G. GaleAaron Krupkin
Research report

In this report, we examine the different ways that Roth individual retirement accounts (IRAs) and traditional IRAs affect their investors and the government. People who want to shelter more income per dollar deposited in the account, provide larger bequests, or eliminate uncertainty about how...

September 5, 2019
Leonard E. BurmanWilliam G. GaleAaron Krupkin
Testimony

On February 27, 2019 William G. Gale testified in front of the 116th U.S. House of Representatives Committee on the Budget for a hearing entitled, "2017 Tax Law: Impact on the Budget and American Families."

February 27, 2019
William G. Gale

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