ABSTRACT

Efficient and Targeted Tax Policy During the Coronavirus Pandemic   [open pdf - 236KB]

From the Document: "The coronavirus pandemic has inflicted severe damage in a multitude of forms, including loss of life, loss of employment and income, and forgone education. […] The US economy has begun to recover from the brunt of the economic shock associated with the pandemic, but the recovery is challenging for many workers and segments of the economy. […] Enacted on March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was the largest single economic relief package in American history. The CARES Act included the Paycheck Protection Program (PPP), enhanced unemployment insurance payments, direct recovery payments to households, and a multitude of other relief and emergency funding programs and tax provisions. […] Given the magnitude of fiscal relief already provided, the preliminary improvements in the economy, and the appropriate role of other policy measures in addressing the consequences of the pandemic, a tax package that is smaller and more targeted than what is proposed in the HEROES [Health and Economic Recovery Omnibus Emergency Solutions] Act is more appropriate."

Author:
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Date:
2020-09-11
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Copyright:
American Enterprise Institute
Retrieved From:
American Enterprise Institute: https://www.aei.org/
Format:
pdf
Media Type:
application/pdf
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