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- Blog Post
Congress recently considered creating a nationwide cap-and-trade program that would limit emissions of greenhouse gases below the levels projected under current law and would allow trading of rights, or allowances, to produce those emissions. The ability to buy and sell allowances would reduce the cost to the economy of meeting the cap by letting market forces determine where, how, and when the associated cuts in emissions would be made.
- Blog Post
Under current policies, the aging of the U.S. population and increases in health care costs will almost certainly push up federal spending significantly in coming decades relative to the size of the economy. Without changes in policy, spending on the government’s major mandatory health care programs as well as on Social Security will increase from the present level of roughly 10 percent of the nation’s output, or gross domestic product (GDP), to about 16 percent over the next 25 years.
- Cost Estimate
Cost estimate for Senate Amendment 4753
- Cost Estimate
Cost estimate for the bill as ordered reported by the Senate Committee on Health, Education, Labor, and Pensions on December 1, 2010
- Report
Letter to the Honorable John McCain
- Report
Evaluating Limits on Participation and Transactions in Markets for Emissions Allowances
- Report
This issue brief analyzes the economic effects of waiting 10 years--from 2015 to 2025--to implement policies that would stabilize the ratio of debt to output.
- Blog Post
In 2009, the expenditures of local governments—including counties, cities, towns, school districts, and special districts—equaled 8.7 percent of gross domestic product, and those governments employed just over 9 percent of the labor force. Those governments, which play a significant role in people’s lives and in the nation’s economy, have not been immune to the weak economic conditions of the past few years. Many are facing significant budgetary challenges (often termed “fiscal stress”) and have been compelled to constrain spending and services.
- Cost Estimate
Cost estimate for the bill as ordered reported by the House Committee on Energy and Commerce on July 21, 2010
- Report
This brief describes the economic conditions and budgeting practices that can lead to significant budgetary challenges--often termed fiscal stress--at the local level.