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Treasury Department Archive

Economy Loses More than Revenue Gains

TweetShareSharePin0 Shares As Congress debates next steps on the tax provisions in the Build Back Better Act proposed in the House Ways and Means Committee, it is important to consider the economic impacts, which include reduced economic output, wages, and jobs. Due to the plan’s economically costly and inefficient tax increases, we find that long-run

Congress’s Debt Limit Problem Is Toddler Fiscal Policy

TweetShareSharePin0 Shares Partisan congressional squabbling over the nation’s debt limit once again threatens to shut down the federal government and perhaps trigger a worldwide financial crisis. The debt limit as currently structured is toddler fiscal policy. Every parent of a young child knows what I am talking about: Little Peter gets all dressed up in

State Unemployment Trust Funds, 2021

TweetShareSharePin0 Shares Key Findings States have paid out $175 billion in unemployment benefits since the start of the pandemic, with the federal government providing an additional $660 billion. Taking debt into account, state trust funds now have a negative aggregate balance of -$11 billion and are $115 billion shy of minimum adequate solvency levels. States

A Big Vote in the House

TweetShareSharePin0 Shares The House passes the “Extending Government Funding and Delivering Emergency Assistance Act.” House Appropriations Committee Chair Rosa DeLauro introduced the bill that reflects agreement among Senate and House Democrats yesterday afternoon and the House passed it last night. It would continue federal funding through December 3, provide $28.6 billion in disaster relief, and suspend the statutory

Could Collective Defined Contribution Plans Reduce the Risks Associated with Retirement Plans for Both Employers and Their Workers?

TweetShareSharePin0 Shares Saving for retirement is a risky endeavor. A key factor driving the shift over the past four decades from defined benefit (DB) pension plans to defined contribution plans (mainly 401(k) plans) and individual retirement accounts (IRAs) is employers’ desire to avoid the risks associated with providing guaranteed pension benefits to their employees. This

How To Fix the Problem of Small Retirement Accounts

TweetShareSharePin0 Shares Not only do many American fail to save enough for retirement, but many workers are plagued by a different, but related problem: They have collected multiple small job-based retirement accounts such as 401(k)’s. This is a problem because, when changing jobs, workers are more likely to cash out or lose track of small

2021 Spanish Regional Tax Competitiveness Index

TweetShareSharePin0 Shares Note: Below is an excerpt of the 2021 Spanish Regional Tax Competitiveness Index (RTCI), a recent report published in collaboration with Fundación para el Avance de la Libertad. The RTCI for Spain is designed to analyze how well regions structure their tax systems, allows policymakers, businesses, and taxpayers to evaluate and measure how their regions’ tax

Afrique subsaharienne : Un système fiscal plus juste pour un meilleur accès à l’éducation et à la santé

TweetShareSharePin0 Shares La COVID-19 survenue en 2020 a plus que jamais rappelé l’impérieuse nécessité qu’il y a pour les pays, de garantir un accès à des systèmes de santé publique dotés de ressources suffisantes, et accessible de manière équitable pour tous. Aussi, elle a compromis la capacité des pays à poursuivre leurs efforts visant à
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