This week at CBPP, we focused on state budgets and taxes, food assistance, the federal budget and taxes, Social Security, and the economy.
On state budgets and taxes, Michael Mazerov lauded a new rule from the Governmental Accounting Standards Board that will provide much-needed transparency on tax breaks that state and local governments give to businesses. Michael Mitchell identified state cuts in higher education funding as the primary driver of recent college tuition hikes.
On food assistance, Becca Segal and Zoë Neuberger dispelled the notion that community eligibility leads to inaccurate counts of low-income students. Brynne Keith-Jennings described how SNAP has responded as designed to increased need.
On the federal budget and taxes, Bryann DaSilva, Vincent Palacios, Arloc Sherman, and Chye-Ching Huang noted that 2.6 million families in rural areas will lose some or all of their Earned Income Tax Credit (EITC) and Child Tax Credit (CTC) if Congress fails to save key provisions of the credits that are slated to expire at the end of 2017. Chuck Marr, Vincent Palacios, and Bryann DaSilva detailed the occupations of the 19 million workers who will lose all or part of their EITC or CTC if the provisions expire.
On Social Security, Kathy Ruffing examined the 2015 Social Security trustees’ report and identified key recommendations for reform.
On the economy, we updated our chart book on the legacy of the Great Recession.