About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

1 Budget Performance Gets Bad Grades from Tax Foundation's Shadow Budget Committee [i] (1987)

handle is hein.tera/bupegetsg0001 and id is 1 raw text is: 'I II I111 TITw TAX FOUNDATION D 4 One Thomas Circle, N.W. A Washington, D.C. 20005 (202) 822-9050 FOR IMMEDIATE RELEASE CONTACT: Bill Wilson (202) 822-9050 BUDGET PERFORMANCE GETS BAD GRADES FROM TAX FOUNDATION'S SHADOW BUDGET COMMITTEE WASHINGTON, D.C., October 27, 1987 - The President and the U. S. Congress would have to repeat the year, if legislative performance were graded the way academic ouput is, according to a recent review by Tax Foundation's Shadow Committee on the Federal Budget. The deficit reduction measures taken to date are totally inadequate, charged Robert C. Brown, President of the Washington-based fiscal watchdog organization. The recent volatility in the financial markets only serves to underline the need for real budget control and the lack of any real progress toward deficit reduction so far. Brown went. on to enumerate some of the shortcomings in recent performance: * The tax increases just adopted by the tax writing committees are mostly anti-business and are unlikely to help market confidence. 9 Increasing the Medicare tax on upper income groups and employers - as the Finance Committee bill does - achieves nothing toward correcting the deficit in the administrative budget, where the real problem lies. a What are being touted as spending cuts are mainly changes in baseline definitions and do not reflect any real savings. e As for the grades themselves - and note that these were given before the October 19 free-fall in the stock market - this is how the Shadow Budget Committee rated performance by the White -Iouse and the Congress: Economic Conditions, A-; Policy Leadership, F; Deficit Reduction, B for appearance and D for substance; Truth in Budgeting, F; Completion of Required Budget Tasks, F. Additional copies of the Budget Report Card - 1987 are available from the Tax Foundation for $1.00, plus $1.00 postage/handling. Call or write: Tax - MORE-

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most