Federal Budget and Economy: Research report

Congress Spends More to Increase Number of Uninsured

Congress continues to let the cost of a tax subsidy grow without bound. Perhaps one day Congress will take on the broader issue of entitlement reform, forcing all entitlement programs to go through some of the hurdles required of discretionary programs. Then those programs would be allowed to
April 12, 2004C. Eugene Steuerle
State and Local Issues: Research report

State Earned Income Tax Credits

The federal earned income tax credit (EITC) was established in 1975 as part of the individual income tax to offset payroll taxes for low-income working families. After several expansions, the refundable tax credit is now the largest federal cash assistance program for low-income families. A growing
March 29, 2004Deborah Kobes
Federal Budget and Economy: Testimony

Health Savings Accounts and Tax Preferences for High Deductible Policies Purchased in the Non-Group Market

Potential Impacts on Employer-Based Coverage in the Small Group Market
This testimony was presented before the the House Small Business Subcommittee on Workforce, Empowerment, and Government Programs. Linda Blumberg addresses Health Savings Accounts (HSAs) and HR 3901, a proposal to make private non-group premiums for the high-deductible health plans associated with
March 18, 2004Linda J. Blumberg
Federal Budget and Economy

T04-0008 - Combined Effect of EGTRRA and JGTRRA: Distribution of Individual Income Tax Change by Cash Income Class, 2004

2004 Distribution by cash income class of the individual income tax provisions in both the 2001 and 2003 tax acts (EGTRRA and JGTRRA).
March 17, 2004
Federal Budget and Economy

T04-0009 - Combined Effect of EGTRRA and JGTRRA: Distribution of Individual Income Tax Change by Cash Income Percentiles, 2004

2004 Distribution by cash income percentile of the individual income tax provisions in both the 2001 and 2003 tax acts (EGTRRA and JGTRRA).
March 17, 2004
Federal Budget and Economy

T04-0010 - Combined Effect of EGTRRA and JGTRRA: Distribution of Individual Income Tax Change by Cash Income Class, 2006

2006 Distribution by cash income class of the individual income tax provisions in both the 2001 and 2003 tax acts (EGTRRA and JGTRRA).
March 17, 2004
Federal Budget and Economy

T04-0012 - Combined Effect of EGTRRA and JGTRRA:Distribution of Individual Income Tax Change by Cash Income Class, 2008

2008 Distribution by cash income class of the individual income tax provisions in both the 2001 and 2003 tax acts (EGTRRA and JGTRRA).
March 17, 2004
Federal Budget and Economy

T04-0013 - Combined Effect of EGTRRA and JGTRRA: Distribution of Individual Income Tax Change by Cash Income Percentiles, 2008

2008 Distribution by cash income percentile of the individual income tax provisions in both the 2001 and 2003 tax acts (EGTRRA and JGTRRA).
March 17, 2004
Federal Budget and Economy

T04-0014 - Combined Effect of EGTRRA and JGTRRA: Distribution of Individual Income Tax Change by Cash Income Class, 2010

2010 Distribution by cash income class of the individual income tax provisions in both the 2001 and 2003 tax acts (EGTRRA and JGTRRA).
March 17, 2004
Federal Budget and Economy

T04-0015 - Combined Effect of EGTRRA and JGTRRA: Distribution of Individual Income Tax Change by Cash Income Percentiles, 2010

2010 Distribution by cash income percentile of the individual income tax provisions in both the 2001 and 2003 tax acts (EGTRRA and JGTRRA).
March 17, 2004
Federal Budget and Economy

T04-0011 - Combined Effect of EGTRRA and JGTRRA: Distribution of Individual Income Tax Change by Cash Income Percentiles, 2006

2006 Distribution by cash income percentile of the individual income tax provisions in both the 2001 and 2003 tax acts (EGTRRA and JGTRRA).
March 17, 2004
: Current Law

T04-0006 - Projected Wages and Salaries, 2004-2010

Projected distribution by AGI of wages and salaries for the 2004-10 calendar years.
March 11, 2004
: Current Law

T04-0007 - Projected Number of Individual Income Tax Returns, 2004-2010

Projected distribution by AGI of the number of individual income tax returns to be filed in the 2004-10 calendar years.
March 11, 2004
Federal Budget and Economy: Research report

Should the President's Tax Cuts be Made Permanent?

This paper examines the economic impacts of the Bush Administration's proposal to make its recent tax cuts permanent. Making the tax cuts permanent would be regressive and would dig a fiscal hole over the next 75 years that is as big as the combined social security and medicare trust fund
March 8, 2004William G. GalePeter Orszag
Federal Budget and Economy: Research report

President Turns to IRS to Raise Levels of Math Education

The president's effort to "leave no child behind" has run into opposition on a variety of fronts. The Congress complained that the money was too little, insisted that the president spend less to reduce the deficit, and then passed the Omnibus Reconciliation and Giveaway Acts of 2003 and 2004. In
March 1, 2004C. Eugene Steuerle
State and Local Issues: Research report

State and Local Receipts and Business Cycles

The behavior of state and local receipts around the end of a business cycle is historically mixed, but the last three recessions exhibit a common trend: receipts trail expenditures during the recession, and even a year or two afterwards.
March 1, 2004C. Eugene SteuerleAdam Carasso
Federal Budget and Economy: Research report

The President's 2005 Budget: First Impressions

On February 2, the Bush administration released its budget proposals for fiscal years 2005-2009. This article provides initial analysis of the budget, with several interesting conclusions.
February 23, 2004Peter OrszagWilliam G. Gale
Federal Budget and Economy: Repeal Elements of 2001 and 2003 Tax Acts

T04-0005 - Options to Repeal Portions of the 2001 and 2003 Tax Cuts Affecting Upper-Income Families Static Individual Income Tax Revenue Impact in $ Billions, 2005-2014

2005-14 calendar and fiscal-year static revenue impacts of repealing elements of the the 2001 and 2003 Tax Acts (EGTRRA and JGTRRA) that benefit upper-income taxpayers.
February 18, 2004
Campaigns, Proposals, and Reforms: Repeal Elements of 2001 and 2003 Tax Acts

T04-0003 - Roll Back Top Two Individual Income Tax Rates: Static Revenue Impact ($ billions), 2004-13

2004-13 calendar and fiscal year static revenue impacts of rolling back the top two individual income tax rates from 33 and 35 percent to 36 and 39.6 percent, effective 01/01/04
February 16, 2004
Campaigns, Proposals, and Reforms: Repeal Elements of 2001 and 2003 Tax Acts

T04-0004 - Roll Back Top Two Individual Income Tax Rates: Distribution of Income Tax Change by AGI Class, 2004

2004 Distribution by AGI of rolling back the top two individual income tax rates from 33 and 35 percent to 36 and 39.6 percent.
February 16, 2004
Federal Budget and Economy: Research report

Reversal in Budget Policy

Bush's First vs. Proposed Second Term
Much of the discussion over President Bush's 2004 submission of a proposed budget for fiscal year 2005 and beyond has focused on what it is not. It is not an agenda for major reform. It is not a budget that Congress appears to take seriously, especially given the number of days it is scheduled to
February 16, 2004C. Eugene Steuerle
Federal Budget and Economy: Research report

Foreign Holdings of Federal Debt

When federal outlays exceed tax receipts, the government typically borrows money from domestic or foreign creditors. When national saving is low relative to national investment, government debt is more likely to be purchased by foreigners. The share of public debt held by foreigners rose from 15
February 16, 2004William G. Gale
Federal Budget and Economy: Research report

The Budget Outlook: Updates and Implications

The Congressional Budget Office (2004) has released new baseline budget projections, covering fiscal years 2005-2014. This article examines the baseline CBO projections, adjusts the official data in ways that more accurately reflect the current trajectory of tax and spending policies, and discusses
February 16, 2004Peter OrszagWilliam G. Gale
Federal Budget and Economy: 2003 Tax Act: Jobs and Growth Tax Relief Reconciliation Act

T04-0002 - Repeal EGTRRA and JGTRRA Distribution of Income Tax Change by AGI Class, 2009

2009 Distribution by AGI of repealing the individual income tax provisions in both the 2001 and 2003 tax acts (EGTRRA and JGTRRA). The baseline assumes the provisions of these bills are extended as proposed by the Administration's Fiscal Year 2005 budget.
February 9, 2004
Individual Taxes: Research report

Key Thoughts on RSAs and LSAs

In his FY2005 budget, released Monday, President Bush proposes a set of new tax-preferred saving accounts (which were first presented in last year's budget). Under the Administration's proposal, two new types of individual accountscalled Lifetime Saving Accounts (LSAs) and Retirement Saving
February 4, 2004Leonard E. BurmanWilliam G. GalePeter Orszag