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Federal Budget and Economy Archive

The Short Run Growth and Inflation Effects of Build Back Better Are Likely to Be Very Modest

TweetShareSharePin0 Shares A key issue in the congressional debate over President Biden’s Build Back Better (BBB) plan is how it would affect the economy over the next couple of years. Identifying precise effects is unusually difficult due to the economic circumstances stemming from the pandemic. But the bill’s overall short-run effects on both growth and

The Short Run Growth and Inflation Effects of Build Back Better Are Likely to Be Modest

TweetShareSharePin0 Shares A key issue in the congressional debate over President Biden’s Build Back Better (BBB) plan is how it would affect the economy over the next couple of years. Identifying precise effects is unusually difficult due to the economic circumstances stemming from the pandemic. But the bill’s overall short-run effects on both growth and

Settling the Dust of the Coal Industry

TweetShareSharePin0 Shares Coal miners increasingly are victims of a cruel paradox. Even as production declines, more are suffering from deadly black lung disease. Yet falling production and growing efforts to combat climate change will slash the federal funds to support sick workers and their families. This problem can be resolved, but it will require policymakers

Why Progressivity in Tax Policy Is Not A Simple Matter

TweetShareSharePin0 Shares Policymakers and even policy analysts often consider the progressivity of specific proposals independently from the broader systems in which they operate. Consequently, they often leave the public with a misleading impression of how those proposals affect various income groups. Here are four examples of how specific programs might appear to be regressive yet

TPC: The Ways & Means Reconciliation Bill Would Raise Taxes On High Income Households, Cut Taxes On Average For Nearly Everyone Else

TweetShareSharePin0 Shares All major provisions of the House Ways & Means Committee’s budget reconciliation tax bill would cut 2022 taxes on average for households making $200,000 or less. At the same time, the bill would raise taxes substantially for those making $1 million or more, according to a new analysis by the Tax Policy Center.

Congress’s Fiscal Drama Isn’t What It Seems

TweetShareSharePin0 Shares Welcome to Fall. The season where, predicably, the weather gets cooler, the leaves change color, and Congress puts on its annual fiscal crisis. This year, we all get to watch a quadruple-header: Will Congress pass a $1 trillion—or perhaps $552 billion– infrastructure bill? Will Congress approve a massive social spending bill including major
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