Fiscal Policy

Analysis of CBO's Budget and Economic Projections and CRFB's Realistic Baseline

January 31, 2012

The Congressional Budget Office (CBO) released its updated budget and economic projections today, showing the appearance of a sustainable debt trajectory over the next ten years. However, these projections do not incorporate the costs of policies lawmakers are very likely to continue, nor do they show the long-term costs of an aging population and growing health care costs beyond the ten year window.

Among our major findings based on the report:

Debate Club: Should Mitt Romney Pay More in Taxes?

  • By
  • Vishnu Sridharan,
  • New America Foundation
February 1, 2012 |

Yes. Making Mitt Romney pay more in capital gains taxes would both help slow the alarming growth of inequality in the U.S. and, if offset by a decrease in the corporate tax rate, help keep capital and investment within our borders.

The Politics of Economic Opportunity: Will Growing Poverty Affect Election 2012?

January 30, 2012
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Engagement with elected leaders by their constituents is a powerful accountability mechanism, and elections are a decisive expression of that function. In a year where poverty and inequality are at historic levels and the prospects for low-income families to improve their circumstances increasingly uncertain, how will these conditions influence both the rhetoric and policy proposals of those seeking elected office and the choices of voters?

A Scalpel, Not a Hatchet

  • By
  • Fred Kaplan,
  • New America Foundation
January 27, 2012 |

The Pentagon revealed a bit more of its defense budget today, and, really, the proposed cuts in spending amount to no big deal. It would be hard to justify not making these cuts. If Congress winds up wanting to cut deeper, there’s plenty of room for more hacking.

First, a word of caution: There are many ways to calculate a “cut,” and some will no doubt invoke a few to claim that the Obama administration’s cuts are severe. Let’s go to the numbers.

Asset Building News Week, 4th Edition

January 27, 2012
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The Asset Building News Week is a weekly Friday feature on the The Ladder, the Asset Building Program blog, designed to help readers keep up with news and developments in the asset building field. This week's topics include alternatives to mainstream banking, EITC awareness, financial literacy, income and wealth inequality, homeownership, bankruptcy, and weakened social protection.

EITC Awareness Day 2012

January 27, 2012

Editor's note: These remarks were delivered at the January 26, 2012 policy briefing, "Promoting the Security of America's Families: A Review of the EITC's Value and Discussion of 2012 Policy Implications" hosted by the National Community Tax Coalition, the New America Foundation, and other partners to commemorate EITC Awareness Day. David Rothstein is a Research Fellow with the Asset Building Program and Project Director with Policy Matters Ohio.

MacGuineas Testimony Before House Rules Committee (Jan 2012)

January 24, 2012

Good morning, Mr. Chairman and members of the Committee. Thank you for the opportunity to testify today on the important topic of fixing the budget process. It is a privilege to appear before the Committee.

The Progressive Case for Corporate Tax Reform

  • By Bruce Stokes, Senior Transatlantic Fellow for Economics, German Marshall Fund
January 26, 2012

In his January 2012 State of the Union address, President Barack Obama called for cutting taxes for companies that produce in the United States, especially high-tech manufacturers. He proposed eliminating deductions for firms that move jobs abroad. And he suggested a minimum tax on all multinational corporations.

What We Hope to See From the Extensions Conference Committee

January 25, 2012

At the end of last year, lawmakers enacted a temporary two-month extension of several policies set to expire, including the temporary payroll tax holiday, expanded unemployment insurance, the doc fix, and various health provisions. Encouragingly, the $33 billion cost of the extensions was fully offset over a ten-year period and a Conference Committee was appointed to determine how any further extensions would be treated.

Asset Building News Week, 3rd Edition

January 20, 2012
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The Asset Building News Week is a weekly Friday feature on the The Ladder, the Asset Building Program blog, designed to help readers keep up with news and developments in the asset building field. This week's topics include taxes, the housing crisis, prepaid cards, public benefits reform, prize linked savings, economic mobility and inequality, and education.

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