Overview: The U.S. budget trajectory is in uncharted territory. The country faces a structural deficit, accrued the largest increase in debt on record during the current economic recovery, and is expected to surpass its WWII-era debt-to-GDP record of 106 percent within the next 30 years. Gale argues that although historically low interest rates reduce the […]
A national debate about the strength and fairness of American capitalism is taking place against a backdrop of vast levels of income and wealth inequality, growing pessimism about the state of economic opportunity and mobility, increased market concentration in many sectors, and a precarious fiscal situation. Restoring the promise of America’s capitalist system will […]
Amidst a resurgence in COVID-19 caseloads and continuing economic devastation from the pandemic, we urge Congress to enact legislation that focuses on the core measures necessary to provide additional fiscal relief as quickly as possible and no later than the end of this calendar year. A bipartisan relief package should include—first and foremost—additional funding to […]
Overview: Batchelder and Kamin argue the United States must raise new revenue in order to reduce high levels of economic disparity, finance much-needed new services and investments, and address the nation’s long-term fiscal needs They present a range of options that would raise tax revenue and increase the progressivity of the federal tax system. Policymakers […]
The American economic system has always been the foundation of our national strength. But this foundation is showing cracks—from high levels of income inequality, declining economic mobility, and persistent economic insecurity among low- and middle-income Americans.
The American economic system has always been the foundation of our national strength. But this foundation is showing cracks—from high levels of income inequality, declining economic mobility, and persistent economic insecurity among low- and middle-income Americans. Many now conclude that our system is broken. Recent polling data show that trust in capitalism is declining, […]
The federal government’s fiscal and monetary responses to the economic crisis caused by the COVID-19 pandemic have been unprecedented. However, we argue that as many of the enacted fiscal measures begin to expire over the next two months, continued policy action will be needed to promote economic recovery. This report puts forward a set of […]