Research Report President-Elect Obama's Tax and Stimulus Plans
Roberton C. Williams
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During the presidential campaign, Barack Obama proposed a comprehensive tax plan that would raise taxes on high-income taxpayers, cut taxes for low- and middle-income households, and lose $2.9 trillion dollars of revenue over ten years. Obama will take office with the economy in sharp recession and a deteriorating fiscal situation, made worse by new spending on a bailout plan. Faced with those crises, Obama says he will pursue both his campaign tax plan and additional tax-related proposals addressing problems created by the downturn. This paper examines revenue and distributional effects of the tax plan and describes some stimulus proposals.
Research Areas Economic mobility and inequality Aging and retirement Taxes and budgets
Tags Fiscal policy Economic well-being Individual taxes Federal budget and economy Campaigns, proposals, and reforms Income and wealth distribution Federal tax issues and reform proposals
Policy Centers Urban-Brookings Tax Policy Center