In Case You Missed It…

This week at CBPP, we focused on the federal budget, federal taxes, housing, and poverty and inequality.

• On the federal budget, we released a statement from CBPP President Sharon Parrott on how President Biden’s budget proposal would tackle long-standing problems. Our experts also posted several related tweet threads: see Parrott on its bold approach to building a more equitable economy, Paul Van de Water on how it would restore the federal government’s revenue base, Judy [TK1] Solomon on its health care improvements, Chuck Marr on its important corrective tax policies, Zoë Neuberger on its far-reaching provisions to help children’s nutrition, Kathleen Romig on its ambitious paid leave proposal, our Family Income Support team on its investments in subsidized jobs, Douglas Rice on its housing provisions, and Javier Balmaceda on what it would mean for critical programs in Puerto Rico. We also updated our backgrounder on how many weeks of unemployment compensation are available.
• On federal taxes, Chuck Marr, Kris Cox, Stephanie Hingtgen, and Katie Windham called on Congress to adopt the American Families Plan’s permanent expansions of the Child Tax Credit and Earned Income Tax Credit and to make others permanent. Marr, Samantha Jacoby, George Fenton, and Sam Washington explained how a corporate rate increase would make taxes fairer and help fund an equitable recovery; Fenton summarized the findings in a post.
• On housing, Douglas Rice emphasized that large-scale investment in rental assistance is needed for an equitable recovery. Will Fischer explained how rental markets can absorb many additional Housing Choice Vouchers.
• On poverty and inequality, Samantha Waxman, Arloc Sherman, and Kris Cox pointed to research showing how income support is associated with improved health outcomes for children. We updated our fact sheet tracking the COVID-19 recession’s effects on food, housing, and employment hardships.

Chart of the Week — Corporate Tax Revenue Has Eroded

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A variety of news outlets featured CBPP’s work and experts this past week. Here are some of the highlights:

Biden Proposes A Huge Hike In Government Spending In A $6 Trillion Budget
NPR
May 28, 2021

Child Tax Credit: How Much Will You Get Each Month?
CBS Baltimore
May 27, 2021

Keeping the expanded child tax credit would help 65.6 million American kids
CNBC
May 26, 2021

Georgia senators : Expand health coverage even if states balk
AP
May 26, 2021

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