Reports by Robert Greenstein
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Ways and Means Committee Republicans’ Use of Joint Tax Committee Data is Deeply Deceptive
Revised November 12, 2008
In a November 8 press release, Ways and Means Committee Ranking Member Jim McCrery claimed that new estimates from the nonpartisan, highly respected Joint Committee on Taxation (JCT) show that Ways and Means Committee Chairman Charles Rangel’s recently-introduced tax reform bill would raise taxes on 113 million households.[1] The claim is false; the … -
Statement on Senate-Passed Financial Rescue Legislation by Robert Greenstein and Chad Stone
October 2, 2008
The House should quickly approve the financial rescue plan that the Senate approved in strong bipartisan fashion yesterday. Further delay would leave the U.S. economy increasingly vulnerable to a contraction more severe than any since the 1930s — one that could trigger large increases … -
Policy Brief Changing Medicaid and SSI Rules to Encourage Retirement Saving
September 12, 2008
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Removing Barriers to Retirement Saving in Medicaid and Supplemental Security Income
September 12, 2008
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Poverty and Share of Americans Without Health Insurance Were Higher in 2007 - And Median Income for Working-Age Households Was Lower - Than at the Bottom of Last Recession
August 26, 2008
The number of Americans in poverty climbed by 816,000 in 2007, while the poverty rate remained statistically unchanged, overall median income rose modestly, and the number and percentage of Americans without health insurance fell somewhat, according to Census data issued today. But the poverty rate remained higher, median income for working-age … -
Robert Greenstein on Census' 2007 Income, Poverty, and Health Insurance Data
August 26, 2008
Despite modest improvements in overall median income and health insurance coverage, the new Census data are disquieting. Though 2007 was the sixth (and likely the final) year of an economic expansion, 4.4 million more Americans were poor, the median income of non-elderly households was $1,100 lower, and nearly 6 million more Americans were uninsured than in 2001 — … -
What to Watch For in the New Census Income and Poverty Numbers
August 21, 2008
On August 26 the Census Bureau will release findings on household income and poverty for 2007. These figures may well show that median income increased modestly and poverty declined modestly in 2007, the typical pattern for years well into an economic expansion. While improvements in incomes and poverty would … -
A Balanced Approach to Restoring Fiscal Responsibility
July 9, 2008
In a recent paper, “Taking Back Our Fiscal Future,” a group of policy analysts from several Washington think tanks proposed a radical change in budget procedures related to Social Security, Medicare, and Medicaid as a way to address budget deficits projected for future decades. They urged Congress to establish 30-year budgets, or caps, for these programs. The White House would conduct a review every five years. If it projected that expenditures would exceed the caps, the programs would face automatic cuts or related tax increases.
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How Low-Income Consumers Fare in the Senate Climate-Change Bill
June 3, 2008
On June 2, the Senate began consideration of S. 3036, the Lieberman-Warner Climate Security Act of 2008. This is landmark legislation that would establish a cap on U.S. greenhouse-gas emissions — a critical step forward in the fight against global warming. It would do so without endangering future economic growth and … -
Statement by Robert Greenstein, on Misleading Claims That Congressional Budget Plan Calls For "Largest Tax Increase In History"
May 20, 2008
Some claim that the budget plan of the conferees — which the House and Senate are scheduled to consider this week — would constitute “the largest tax increase in history.” This claim is inaccurate, just as the same claim was inaccurate with regard to the budget … -
Statement by Robert Greenstein on the House Supplemental Funding Bill
May 15, 2008
The House supplemental funding bill makes important changes to domestic policy by temporarily extending unemployment benefits and imposing a moratorium on harmful Medicaid regulations. The unemployment measure would provide, on a temporary basis, an extra 13 weeks of jobless benefits to workers … -
How CBO Estimates the Cost of Climate-Change Legislation
May 13, 2008
When the Congressional Budget Office prepares cost estimates for climate-change legislation, those estimates reflect what is known as a “25-percent income and payroll tax offset.” As a result of this offset, the net revenue estimated to be generated by an auction of emissions allowances under a cap-and-trade program or … -
Designing Climate-Change Legislation That Shields Low-Income Households from Increased Poverty and Hardship
Revised May 9, 2008
Efficient, effective policies to reduce greenhouse-gas emissions work in part by raising the prices of fossil-fuel energy products to encourage energy efficiency and the substitution of clean energy sources for fossil fuel. This is essential to prevent extensive environmental and economic damage from climate change. However, it … -
Joint Tax Committee Estimate Shows That Tax Gimmick Being Designed To Evade Senate Budget Rules Would Increase Long-Term Deficits
Revised April 26, 2008
House and Senate conferees negotiating an agreement on the tax reconciliation bill are widely reported to have decided to use a change in Roth IRAs to help “offset” the cost of capital gains and dividend tax cuts in years after 2010. If the tax reconciliation bill increases the deficit after 2010, it would violate a Senate rule that a … -
Testimony of Robert Greenstein, Executive Director, Center on Budget and Policy Priorities at the Hearing on the Tax Aspects of a Cap-and-Trade System, Senate Committee on Finance
April 24, 2008
Strong and effective measures are needed to reduce greenhouse gas emissions and prevent costly and potentially catastrophic environmental and economic damage as a result of climate change. The Center on Budget and Policy Priorities’ area of expertise is not in environmental policy per … -
Tax Foundation Figures Do Not Represent Typical Households' Tax Burdens: Figures May Mislead Policymakers, Journalists, and the Public
April 23, 2008
Each year, the Tax Foundation releases a report projecting “Tax Freedom Day,” which it describes as the day when Americans will have “earned enough money to pay this year’s tax obligations at the federal, state, and local levels.”[1] The Tax Foundation’s “Tax Freedom Day” report is plagued by two major problems. First, its … -
What the 2008 Trustees’ Report Shows About Social Security
March 27, 2008
Executive Summary On March 25, the Social Security Board of Trustees released the 68th annual report on the program’s financial and actuarial status. The report projects that Social Security’s trust fund reserves will be exhausted in 2041, the same as projected last year. In 2041, Social Security will be … -
The Dubious Priorities of the President's FY 2009 Budget
Revised February 7, 2008
The President’s budget would provide more tax cuts heavily skewed to the most well-off while cutting vital services for low- and moderate-income Americans, generating large deficits, and increasing the strain on states already confronting budget problems as a result of the economic downturn. The budget … -
Senate Rebate Proposal Targets More Funds to Low-Income Households, Boosting Stimulus Impact: Lifting Income Cap Reduces Bang-for-the-Buck, But Changes Are an Improvement Overall
Revised February 1, 2008
The stimulus legislation that was adopted by the Senate Finance Committee on Wednesday would make several changes to the House-passed stimulus package, including significant changes to the tax rebate proposal that on balance would make the rebate more effective as stimulus. While retaining the House rebate’s basic structure, the Finance … -
Senate Action Will Not Delay Rebates
January 31, 2008
The facts are clear: Senate action on the stimulus package will not delay the rebates by a single day. The earliest that the IRS can begin to send out rebates is mid-May. No matter how fast Congress enacts the stimulus package, the IRS cannot start issuing the rebates any sooner because it must first process the 2007 … -
Dispelling Confusion on Food Stamps, Tax Rebates, and the Stimulus Package: Speaker's Statement on Food Stamps at National Press Club Was Mistaken
January 26, 2008
House Speaker Nancy Pelosi made tough choices in the stimulus package, securing a tax rebate that includes most low-income working families while dropping provisions for temporary increases in unemployment and food stamp benefits. Unfortunately, in defending those choices at the National Press Club on Friday, she mistakenly provided an inaccurate description … -
Statement by Robert Greenstein: Reported Stimulus Package Would Provide Little Immediate Boost Due to Removal of Most Effective Provisions
January 24, 2008
Changes reportedly made last night in the stimulus package would reduce its effectiveness as stimulus. Although the package includes a reasonably designed tax rebate, the two most targeted and economically effective measures under consideration — a temporary extension of unemployment benefits and a temporary boost in food stamp … -
Administration Stimulus Plan Fails Tests for Achieving
January 17, 2008
The centerpiece of the President’s new stimulus plan — a rebate provided by temporarily eliminating the 10 percent income tax bracket — fails crucial tests for providing the most effective stimulus, because it is not targeted on the tens of millions of families most likely to spend that rebate. In so doing, …
