What’s So Good about America’s Tax Package?
The tax package agreed to by Barack Obama and his Republican opponents in the US Congress represents the right mix of an appropriate short-run fiscal policy and a first step toward longer-term fiscal prudence. Yet it remains highly uncertain how much it will boost investment and consumer spending.
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CAMBRIDGE –The tax package agreed to by President Barack Obama and his Republican opponents in the United States Congress represents the right mix of an appropriate short-run fiscal policy and a first step toward longer-term fiscal prudence. The key feature of the agreement is to continue the existing 2010 income-tax rates for another two years with no commitment about what will happen to tax rates after that.