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Monday December 1, 2008

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Taxes

RESEARCH AND COMMENTARY

Save to My PortfolioFixing the Tax System: Support Fairer, Simpler, and More Adequate Taxation

William G. Gale, February 28, 2007, Opportunity 08

Fixing the Tax System: Support Fairer, Simpler, and More Adequate TaxationA good tax system raises the revenues needed to finance government spending in a manner that is as simple, equitable, stable, and conducive to economic growth as possible. But the challenge for the next President will be to make reform work not just in the abstract, but in the real world, where special interests often rule the roost. The next President should support reforms that would tax all income once (only) at the full tax rate, simplify and streamline the tax code, and, of course, raise sufficient revenues. Read More

Taxes, Alternative Minimum Tax, U.S. Economy, Tax Reform, U.S. Department of the Treasury

RESEARCH AND COMMENTARY

Save to My PortfolioBridging the Gap: Refundable Tax Credits in Metropolitan and Rural America

Elizabeth Kneebone, April 14, 2008, The Brookings Institution

Bridging the Gap: Refundable Tax Credits in Metropolitan and Rural AmericaIn this report, Elizbeth Kneebone examines the changing distribution of Earned Income Tax Credit (EITC) recipients across large cites and suburbs, smaller metro areas, and rural communities throughout the country. While taxpayers in large cities and rural areas were the most likely to claim the EITC in 2005, more than one-third of EITC filers lived in the suburbs of the nation’s largest metropolitan areas. Read More

Taxes, Earned Income Tax Credit, Income Distribution, Working Poor

RESEARCH AND COMMENTARY

Save to My PortfolioFair and Equitable Tax Policy

Jason Furman, September 06, 2007, House Committee on Ways and Means

Hamilton Project Director Jason Furman testified before the House Ways and Means Committee on fair and equitable tax policy for America's working families. Read More

Taxes, Inequality, Tax Cuts, Tax Reform, U.S. Economy

RESEARCH AND COMMENTARY

Save to My PortfolioThree Keys to Effective Fiscal Stimulus

Douglas W. Elmendorf and Jason Furman, January 26, 2008, Washingtonpost.com

With a weakening economy, most agree that any well-designed stimulus should be timely, temporary and targeted. Douglas W. Elmendorf and Jason Furman advocate that the "three T" principles are critical to ensure that any benefits do not come at the expense of serious long-run harm. Read More

Fiscal Policy, Competitiveness, Macroeconomics, Taxes, U.S. Economy

RESEARCH AND COMMENTARY

Save to My PortfolioCorporate Taxes, in Need of Reform

Jason Furman, October 27, 2007, Washingtonpost.com

The system for taxing business is broken; Ways and Means Chairman Charles Rangel is proposing a fix. Senior Fellow Jason Furman argues that the Rangel plan opens an important discussion that others—including the Bush Administration—should join. Read More

Taxes, Competitiveness, Corporate Taxes, Business

RESEARCH AND COMMENTARY

Save to My PortfolioAchieving Progressive Tax Reform in an Increasingly Global Economy

Jason Bordoff, Jason Furman and Lawrence H. Summers, June 2007, Hamilton Project Strategy Paper, The Brookings Institution

The progressive tax system, and the nation's fiscal system more broadly, have historically played an important role in expanding opportunities for all Americans while reducing inequality. But the same dynamic forces of technological change, financial innovation, and globalization that have contributed to rising income inequality also present new challenges for progressive taxation. Read More

Competitiveness, Taxes, Inequality, Tax Reform, Globalization

PAST EVENT

Save to My PortfolioReforming Taxation in the Global Age

Tuesday, June 12, 2007
9:00 AM to 12:00 PM
Washington, DC

The Hamilton Project at the Brookings Institution hosted a forum and released a new set of policy proposals that address the challenges of reforming the U.S. tax system in an increasingly global economy. Former U.S. Treasury Secretary Lawrence H. Summers opened the discussion by providing an overview of a new Hamilton Project strategy paper that frames the challenges facing the current U.S. system of taxation and offers six guiding principles for progressively reforming the tax code. Read More

Taxes, U.S. Economy, Tax Reform

UPCOMING EVENT

Save to My PortfolioTax Reform’s Challenges and Opportunities

Friday, December 05, 2008
8:45 AM to 4:30 PM
Washington, DC

A new administration presents an ideal opportunity to reshape the nation’s tax code. Improving the equity, simplicity and efficiency of the tax system will help to better prepare taxpayers, businesses and the economy for the challenges that lay ahead. On December 5, Brookings, the Urban-Brookings Tax Policy Center and Tax Analysts co-host a forum that explores timely policy recommendations to the incoming president and his transition team. Read More

The Presidential Transition, Taxes, Tax Reform, Alternative Minimum Tax, The Presidency

RESEARCH AND COMMENTARY

Save to My PortfolioMemo to the President: Fix the Tax System

William G. Gale and Benjamin Harris, December 05, 2008, The Brookings Institution

Memo to the President: Fix the Tax SystemA new administration presents an ideal opportunity to reshape the nation’s tax code. Improving the equity, simplicity and efficiency of the tax system will help to better prepare taxpayers, businesses and the economy for the challenges that lay ahead. Read More

Taxes, The Presidential Transition, Tax Reform, Alternative Minimum Tax, The Presidency

UPCOMING EVENT

Save to My PortfolioThe Scouting Report: Fix the Tax System

Wednesday, December 03, 2008
12:30 PM to 1:30 PM

The Scouting Report: Fix the Tax SystemImproving the equity, simplicity and efficiency of the tax system will help to better prepare taxpayers, businesses and the economy for the challenges that lay ahead. The U.S. tax code is too complex, often supports misguided incentives, and raises inadequate revenue to support government spending. On Wednesday, December 3, at 12:30 PM, Brookings Vice President and Director William Gale will be on hand to answer questions in a live web chat with Politico's Jeanne Cummings, chief lobbying and influence writer, about strengthening and improving our nation’s tax code. Read More

The Presidential Transition, Taxes, Tax Reform, Alternative Minimum Tax, The Presidency

BOOK

Save to My PortfolioUsing Taxes to Reform Health Insurance

Henry J. Aaron and Leonard E. Burman, December 01, 2008

Contributors examine the role taxes currently play, the likely effects of recently introduced health savings accounts, the challenges of administering major subsidies for health insurance through the tax system, and options for using the tax system to expand health insurance coverage. Read More

Health Care, Taxes, U.S. Department of Health and Human Services

VIDEO

Save to My PortfolioObama's Economic Priorities

Jeffrey R. Kling, November 07, 2008

Obama's Economic PrioritiesPresident-elect Obama held his first press conference today, focusing on the economy. Kling commented on Obama’s address saying the nation needs two rounds of stimulus to kick-start the economy—the first to stem recent job losses and help homeowners, and then to focus on longer-term growth.

U.S. Economy, Unemployment, Labor, Infrastructure, Taxes

RESEARCH AND COMMENTARY

Save to My PortfolioTaxes under Obama and McCain

William G. Gale and Benjamin H. Harris, October 30, 2008, The Economists' Voice

Taxes under Obama and McCainWilliam Gale and Benjamin Harris discuss the tax proposals set forth by the presidential candidates Barack Obama and John McCain. Read More

Taxes, Elections, Financial Markets, U.S. Economy

RESEARCH AND COMMENTARY

Save to My PortfolioFed Chairman Signals Support for New Stimulus Package

Martin Neil Baily, October 20, 2008, NewsHour

Fed Chairman Signals Support for New Stimulus PackageWall Street saw a boost Monday as Fed Chairman Ben Bernanke told Congress that a second stimulus bill might help the economy. Martin Baily and William Beach examine the prospects for a new stimulus plan. Read More

Financial Markets, Financial Institutions, Taxes, Unemployment, U.S. Economy

RESEARCH AND COMMENTARY

Save to My PortfolioInsurance Pricing Can Cut Gas Use

Jason E. Bordoff and Pascal J. Noel, July 29, 2008, The Hartford Courant

There is little lawmakers can do in the short run to reduce prices at the pump, argue Jason Bordoff and Pascal Noel. What if there were a way to lower the cost of driving while still encouraging people to drive less and use less oil? The authors examine how pay-as-you-drive auto insurance supports this goal. Read More

Infrastructure, Climate and Energy Economics, Environment, Traffic, Transportation

In Brief

Taxes provide the revenue that finances government programs at all levels. Taxes on income and payroll are the largest federal revenue sources. Under the graduated tax system in the United States, those with larger incomes generally are taxed at higher rates than those with lower incomes. But special tax breaks and loopholes can create complexity and inequity.

Upcoming Events

The Presidential Transition Save to My Portfolio The Scouting Report: Fix the Tax System

December 03, 2008

The Brookings Institution

The Presidential Transition Save to My Portfolio Tax Reform’s Challenges and Opportunities

December 05, 2008

The Brookings Institution

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Featured Experts

William G. Gale

William G. Gale

Vice President and Director, Economic Studies
Arjay and Frances Miller Chair in Federal Economic Policy

Bill Gale, a Brookings vice president and director of the Economic Studies Program, is an expert on tax policy, fiscal issues, pensions, and saving behavior. He is also co-director of the Tax Policy Center and director of the Retirement Security Project.
Read More

Alan Berube

Alan Berube

Fellow, Metropolitan Policy Program

Alan Berube is research director of the Brookings Metropolitan Policy Program. A former policy advisor to the U.S. Treasury Department, he is an expert on metropolitan demographics, low-wage workers, and urban poverty.
Read More

Henry J. Aaron

Henry J. Aaron

Senior Fellow, Economic Studies
The Bruce and Virginia MacLaury Chair

A noted health care expert, Henry Aaron focuses on the reform of health care financing; public systems such as Medicare and Medicaid; Social Security; and tax and budget policy.
Read More

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Spotlight

ExpertMartin S. Indyk

Ambassador to Israel and assistant secretary of state for near east affairs during the Clinton Administration, Martin Indyk directs the Saban Center for Middle East Policy. He currently focuses on the Clinton administration’s diplomacy and the Arab-Israeli conflict.

ExpertRebecca Blank

Rebecca Blank is an expert on the interaction between the macroeconomy, government anti-poverty programs, and the behavior and well being of low-income families. She has just been named the Robert S. Kerr senior fellow at Brookings.

ExpertMauricio Cárdenas

Mauricio Cárdenas is a senior fellow and director of the Latin American Initiative. Formerly minister of Economic Development and Transportation, and director of National Planning of Colombia, his research focuses on international and development economics. He is also the president of the Latin American and Caribbean Economic Association (LACEA).

ExpertSarah A. Binder

Sarah Binder is an expert on Congress and legislative politics.  She is completing a project on the politics of advice and consent, and is at work on the politics of how Congress responds to financial crises.

ExpertJulia B. Isaacs

Julia Isaacs focuses on public investments in children and how children are affected by national budgetary policies. A former federal budget analyst, she also researches the economic mobility of children and families across the income spectrum.

ExpertDouglas W. Elmendorf

Doug Elmendorf, whose government posts have included the Federal Reserve, Treasury, Council of Economic Advisors, and CBO, focuses his research on macroeconomics and fiscal policy. He is co-editor of the Brookings Papers on Economic Activity and director of The Hamilton Project, which develops proposals for shared growth.

ExpertSuzanne Maloney

Suzanne Maloney studies Iran, the political economy of the Persian Gulf and Middle East energy policy. A former U.S. State Department policy advisor, she has also counseled private companies on Middle East issues.

TopicMigration

Migration is an issue that bridges Brookings’s expertise in domestic and foreign policy. In the United States, reforming immigration policy remains a subject of intense political debate. Globally, the unprecedented movement of people across borders raises issues in both industrialized countries and the developing world.

ExpertCarlos Pascual

Carlos Pascual is a former U.S. ambassador to Ukraine. As vice president and director of Foreign Policy, he focuses on post-conflict stabilization and international security policy.

TOPICThe Presidential Transition

During the 77 days from the election to the Inauguration, Brookings experts will offer 12 "Memos to the President" on top policy priorities across the spectrum of domestic and global challenges, plus additional advice on transitioning from campaigning to governing.

Policy CenterEngelberg Center for Health Care Reform

The Engelberg Center for Health Care Reform provides practical solutions to achieve high-quality, innovative, affordable health care with particular emphasis on identifying opportunities on the national, state and local levels.

ExpertEswar Prasad

Eswar Prasad, the Tolani Senior Professor of Trade Policy at Cornell University, is a senior fellow in Global Economy and Development. He was previously head of the Financial Studies Division and the China Division at the IMF.

ExpertHugh B. Price

Former president and chief executive officer of the National Urban League, Hugh Price is an expert on education, civil rights, equal opportunity and criminal justice. His 40-year career spans journalism, philanthropy, the law, and social advocacy.

ExpertDarrell M. West

Darrell M. West is the vice president and director of Governance Studies at Brookings. His studies include campaigns and elections, political advertising, mass media, public opinion, technology policy and electronic government.

ProgramGovernance Studies

Governance Studies explores political institutions of the United States and other democracies to assess how they govern, how their practices compare and how citizens and public servants can advance sound governance.

Research ProjectThe Hamilton Project

The Hamilton Project produces research and policy proposals on how to create a growing economy that benefits more Americans. Their agenda also focuses on enhancing individual economic security and effective public investments. 

Research ProjectLatin America Initiative

The Latin America Initiative provides high-quality, in-depth, and independent research across a range of economic and political issues, and offers policy recommendations aimed at U.S. and Latin American policymakers.

ExpertMark B. McClellan

A medical doctor and economist, Mark McClellan works on promoting high-quality, innovative and affordable health care. Once commissioner of the Food and Drug Administration and administrator of the Centers for Medicare and Medicaid Services, Dr. McClellan now directs the Engelberg Center for Health Care Reform.