This is the second of a series of posts that look behind the debate over continuing a federal program that provides emergency unemployment benefits and explain what’s at stake for jobless workers and the economy.
BEYOND THE NUMBERS
While states that provide special tax breaks for seniors regardless of their income may appear attractive places to retire, those tax breaks will become significantly more costly over the next few decades as the elderly’s share of the population grows, as my colleague Nick Johnson noted in a recent U.S. News & World Report blog post. Those growing costs will make it harder and harder for these states to maintain high-quality public services, which can have a big impact on quality of life in a state.
Yesterday, the Republican Study Committee issued a press release announcing one of its first ideas for tackling spending: eliminating the TANF Emergency Fund, which the RSC says would save $25 billion over the next decade “by restoring welfare reform.” There are so many problems with this proposal that it’s hard to know where to begin. Here are the facts:
As I mentioned recently, over the next few weeks we will issue a series of posts that look behind the debate over continuing a federal program that provides emergency unemployment benefits and explain what’s at stake for jobless workers and the economy. Here’s the first in the series:
Today’s employment report contains much better news on job creation than was expected, but it does not change the underlying fact that the economic recovery remains weak and the economy needs a boost. Below are some charts to show how the new figures look in historical context; see our statement with analysis.
When Congress returns to work in two weeks, it faces an important decision: whether to let federal emergency unemployment insurance (UI) benefits, which are helping 5 million jobless workers and their families, expire even though unemployment is near 10 percent and expected to stay above 9 percent through 2011.
As newly elected governors confront their states’ grim fiscal reality, one promise that some of them made during the campaign should go in the trash along with the yard signs and the balloons from last night’s victory celebrations: cutting or eliminating their state’s corporate income tax.
Voters in more than half of the states elected new governors yesterday — the first time that’s happened since 1938, according to Stateline.org. But one thing hasn’t changed: states still face massive revenue problems resulting from the recession. Next year will be states’ worst budget year ever. So what will the new governors do about it?
In this podcast we will discuss how in some states people will vote today on ballot initiatives today that will significantly affect public services. I’m Shannon Spillane and I’m joined by the Deputy Director of the Center’s State Fiscal Project, Jon Shure.