If Congress does not act soon, millions of taxpayers will see their tax bills rise after 2010 as key provisions of the 2001 and 2003 tax acts expire. Worse still, millions more Americans will experience a slower economy and slimmer job prospects as the economy adjusts to the higher tax burden on… Read more

The President's fiscal year (FY) 2007 budget sub­mission to Congress includes a number of important initiatives. Among them is a plan to create a Dynamic Analysis Division within the Office of Tax Analysis (OTA) in the U.S. Department of the Treasury. Dynamic analysis gauges the impact on federal… Read more

The President's budget for fiscal year 2007 in­cluded a number of proposals to extend expiring tax provisions. The most significant involved ex­tending the lower marginal rates on ordinary in­come enacted under the 2001 Economic Growth and Tax Relief Reconciliation Act (EGTRRA) and the preferential rates on individual net capital… Read more

The recent publication of "A Dynamic Analysis of Permanent Extension of the President's Tax Relief"[1] marks an important and informative de­parture for the Office of Tax Analysis (OTA) in the U.S. Department of the Treasury. It is the OTA's first public attempt to do a… Read more

Tables included in this report Table 1: The Economic Effects of the Katrina Emergency Tax Relief Act of 2005   Introduction Hurricane Katrina has dealt a serious blow to the Gulf Coast and New Orleans. Initial estimates from state and local authorities suggested that losses of human… Read more

Members of AARP must be feeling a bit whipsawed by their Washington leaders these days. On the one hand, AARP leadership says that private accounts in Social Security, which could be invested in the stock market, are like gambling. On the other hand, AARP encourages its members to invest their retirement savings in the… Read more