Most policymakers in Washington agree the economy needs help. One problem: The subject dominating the economic policy debate right now — the Bush tax cuts — ranks low among temporary measures that might offer the best bang for the buck. And making the tax cuts permanent without paying for them would be expensive and could constrain the country’s economic growth prospects in the medium- and long-term. Those are two key points that Douglas Elmendorf, director of the Congressional Budget Office, offered to the Senate Budget Committee on Tuesday.
CBO chief: Tax cuts rate low on ways to stimulate economy
September 29, 2010, 10:46am
Jacob Gaffney is formerly Editor-in-Chief of HousingWire and HousingWire.com. He previously covered securitization for Reuters and Source Media in London before returning to the United States in 2009. While in Europe for nearly a decade, he covered bank loans and the high yield market, in addition to commercial paper, student loan, auto and credit card space(s).see full bio
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Jacob Gaffney is formerly Editor-in-Chief of HousingWire and HousingWire.com. He previously covered securitization for Reuters and Source Media in London before returning to the United States in 2009. While in Europe for nearly a decade, he covered bank loans and the high yield market, in addition to commercial paper, student loan, auto and credit card space(s).see full bio