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Research report

President-Elect Obama's Tax and Stimulus Plans

Roberton C. Williams
January 8, 2009
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Abstract

During the presidential campaign, Barack Obama proposed a comprehensive tax plan that would raise taxes on high-income taxpayers, cut taxes for low- and middle-income households, and lose $2.9 trillion dollars of revenue over ten years. Obama will take office with the economy in sharp recession and a deteriorating fiscal situation, made worse by new spending on a bailout plan. Faced with those crises, Obama says he will pursue both his campaign tax plan and additional tax-related proposals addressing problems created by the downturn. This paper examines revenue and distributional effects of the tax plan and describes some stimulus proposals.

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Campaigns, Proposals, and Reforms Individual Taxes Federal Budget and Economy
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Meet the Experts

  • Roberton C. Williams
    Urban Institute Associate
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