Brief Economic Effects of Making the 2001 and 2003 Tax Cuts Permanent
William G. Gale, Peter Orszag
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All of the provisions of the landmark tax cuts enacted in 2001 and 2003 are scheduled to expire by the end of 2010. This paper analyzes the economic effects of making the tax cuts permanent. We describe the recent tax cuts and the proposals to make them permanent, and explore the consequences of making the tax cuts permanent with regard to the fiscal status of the government, the distribution of after-tax income, and prospects for long-term economic growth.
Research Areas Economic mobility and inequality Taxes and budgets
Tags Fiscal policy Federal budget and economy
Policy Centers Income and Benefits Policy Center