Testimony Policies to Support the Middle Class
Testimony before the Senate Committee on Finance
Leonard E. Burman
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In this testimony before the Senate Finance Committee, Len Burman outlines some of the challenges facing the middle class in 2014 and explores policy options that might help better equip them to meet those challenges, including improving access to higher education and job training and consolidating and targeting education tax subsidies; slowing the growth of spending on health care; eliminating the carried interest loophole; encouraging saving by offering automatic contributions to 401(k)-like accounts for low- and moderate-income households; and replacing automatic price indexing with annual indexation adjustments designed to partially counterbalance changes in the distribution of income on a revenue-neutral basis.
Research Areas Wealth and financial well-being Taxes and budgets
Tags Asset and debts Individual taxes Inequality and mobility
Policy Centers Urban-Brookings Tax Policy Center