Published 1988 by U.S. G.P.O., For sale by the Supt. of Docs., Congressional Sales Office, U.S. G.P.O. in Washington .
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Download Implications of current federal fiscal policy on state and local infrastructure financing
Get this from a library. Implications of current federal fiscal policy on state and local infrastructure financing: hearing before the Subcommittee on Investigations and Oversight of the Committee on Public Works and transportation, House of Representatives, One Hundredth Congress, first session, Septem [United States.
Congress. The United States enacted a series of fiscal relief and stimulus bills in recent weeks, centered around the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
The current fiscal response shares key similarities to the fiscal stimulus enacted during the Great Recession. Research over the past 10 years on the macroeconomic impact of that stimulus thus has important implications.
The implications of federal grants-in-aid to state and local governments are far reaching. It raises questions over Congress’s ability to attach conditions to federal grants-in-aid for other purposes.
For individual states to continue to qualify for federal funds for projects, they have to abide by certain federal rules or regulatory controls. Fiscal policy, measures employed by governments to stabilize the economy, specifically by manipulating the levels and allocations of taxes and government expenditures.
Fiscal measures are frequently used in tandem with monetary policy to achieve certain goals. Learn more about fiscal policy in this article. Rueben is an expert on state and local public finance and the economics of education.
Her work examines issues of state and local public finance and focuses on state budget and tax issues, intergovernmental relations, fiscal institutions, and the economics of education, including federal and state financing of both K–12 and postsecondary.
U.S. local governments play a key role in funding, operating, and maintaining local roads, bridges, airports, transit facilities, drinking water and sewer systems, and other types of infrastructure. However, local governments across the United States are facing a serious infrastructure deficit and are exploring new ways to finance needed expansions, upgrades, and repairs.
In the fourth section, we focus on the implications for fiscal policy in terms of budget transparency and accountability. While the GASB does not set budget principles for state and local governments, the accounting and financial reporting standards that it sets, have implications.
infrastructure. Tax-exempt bonds are the primary financing mechanism for state and local infrastructure projects—they have been used for more than years and provide essential funding for states, counties and localities. Three-quarters of all public infrastructure projects in the U.S.
are built by states and localities, and tax-exempt. Currently, many local governments in developing countries face the near-impossible task of funding the infrastructure and services required to meet the basic needs of growing urban populations, while forward-looking capital investments are not possible for financial reasons.
Local financial management frequently suffers from. Fiscal policy, public debt management and government bond markets inIndonesia the fiscal constraints on monetary policy; (ii) the impact of local currency bond markets on central bank policies; and (iii) the role of central banks in public are not characteristically very different from monetary financing.
The implications of these. The public sector and fiscal policyThe public sector, which involves government spending, revenue raising, and borrowing, has a crucial role to play in any mixed purpose of government expenditureGovernment spends money for a variety of reasons, including:To supply goods and services that the private sector would fail to do, such as public goods, including.
Fiscal Deficit Impact on the Economy. Economists and policy analysts disagree about the impact of fiscal deficits on the economy.
Some, such as. By analyzing transportation spending bills, other archival materials, original interviews with federal, state, and local agencies, transport policy organizations, and lobbyists, this article.
To fight recessions, of course, we rely on a combination of monetary policy and fiscal policy. In each of the past three recessions, the Federal Reserve has cut the federal funds rate by 5 or more percentage points.
However, most current projections of the federal funds rate imply that the rate will stay below 5 percent in the years ahead. spending on infrastructure and economic growth enabled many economists to believe that government investment in infrastructure is a reliable policy to improve the economy and to recommend this as part of stimulus packages.
However, another group of economists believes that additional govern. This book is based on a conference, the ‘Practitioners' Conference on Mobilizing Urban Infrastructure Finance in a Responsible Fiscal Framework: Lessons from Brazil, China, India, Poland and South Africa’.
1 The conference sought to examine two potentially conflicting policy goals: the first, maintaining fiscal discipline, and the second.
The Center for State and Local Finance is a collaborative effort of the Andrew Young School’s nationally ranked faculty to provide research on issues affecting the future of state and local public finance and to educate the next generation of leaders in public financial management. The Economic Policy Institute provides convenient tabulations of these data.
For data throughsee Economic Policy Institute (), State of Working America Data Library (Washington: EPI, March), table ("Wages by Percentile"). Fiscal policy refers to the use of the government budget to affect the economy including government spending and levied taxes.
Find out how the policies adopted have. Book Description. This title was first published in Investigating the impact of federal structure on fiscal policy-making in four country cases, this book answers the question as to what extent federal structures hinder or, on the contrary, enhance a state's decision and co-ordination capacity in the field of fiscal policy.
Generally, the Bill seeks to promote fiscal equity by mitigating instances of regressive taxation, reform domestic tax legislation in line with global best practices, and introduce tax incentives particularly for investments in infrastructure and thereby engender, to an extent, the legislative framework necessary for the development and growth.
policy guidelines. The analysis and state profiles can help inform state decision-making about whether, when, and how to assist municipalities facing fiscal stress, the likely outcomes of various approaches, and the implications for cities, counties, states, and taxpayers.
For example, the median long-run real federal funds rate reported in the Federal Reserve's Summary of Economic Projections prepared in connection with the December meeting of the Federal Open Market Committee has been revised down about 1/2 percentage point over the past three years to a level of /2 percent.
5 As shown in the figure, a. State and local governments should prepare and adopt comprehensive, fiscally sustainable, and multi-year capital plans to ensure effective management of capital assets. Infrastructure, technology, and major equipment are the physical foundation for providing services to constituents.
The following principles should guide school finance reform based on quality at the federal, state, and local levels, but states must drive reform to school funding systems, as local and state.
Helping localities detect fiscal distress. In Nebraska, state and local officials engaged in conversations about improving fiscal policy, but lawmakers have not yet enacted reform legislation.
Early in the year, state leaders considered the Fiscal Stress Management Act, which aims to monitor the fiscal condition of Nebraska’s local governments. Fiscal Reform 10 LOCAL AND STATE INFRASTRUCTURE ISSUES 11 Top Local and State Infrastructure Priorities 11 Local Infrastructure Priorities 12 Approval Ratings of Infrastructure Planning 14 State Bond Ballot Measures 15 Appendix A.
City Officials’ Survey Methodology 17 Appendix B. City Officials’ Survey Questionnaire 19 - i. William Gale offers 12 facts that inspire the analysis and proposals in his new book Fiscal Therapy, which looks at the trouble looming – in the form of rising government debt, and in the way we.
In many ways the proposal of a FIB hinges on a debate that has long been at the center of American policy: which decisions should lie with the states and which with the federal government.
The States’ Way. In the National Highway System Designation Act established a pilot program for State Infrastructure Banks (SIB). In the words of the IMF, infrastructure investments “require coordination among federal, state, and local governments and have to go through a long process of planning, bidding, contracting.
Infrastructure Spending Is Down Across Government. Federal infrastructure investment has fallen by half ― from 1 percent to percent of GDP ― over the last 35 years, leaving more of the task to state and local governments.
For example, federal spending on transportation and water infrastructure has fallen in real terms sinceand the federal gas tax has not been. The “public” consists of individuals, corporations, state and local governments, FRB, foreign governments, and other entities outside the federal government.
Back to Content) 4 Present values recognize that a dollar paid or collected in the future is worth less than a dollar today because a dollar today could be invested and earn interest.
WASHINGTON — The United States federal budget deficit jumped 26 percent in the fiscal year to $ billion, reaching its highest level in seven years as the government was forced to.
local unemployment funds.7 Coupled together, these factors force local governments to increase taxes, decrease expenditures, or both increase taxes and decrease spending.
In addition to these factors, the budgets of local governments are directly and indirectly affected by fiscal issues at the federal and state. This book offers research that bears on new and incipient pressure points.
It evaluates some ways of coping at the state level, and suggests some approaches to recasting Federal policy. This book’s contributions are of two types. The first speaks to background topics in state fiscal policy. The fiscal policy of a government has a direct influence on that country's economy.
The government is involved in fiscal policy any time that it makes payments, purchases goods and services, or even collects taxes. Any change in the government's fiscal policy affects the economy as well as individuals. Fiscal Issues Illustrated All of these issues have significant fiscal implications and are important to our future economy.
As part of our nonpartisan mission to educate and engage Americans, the Peterson Foundation is launching a series of infographics to facilitate an informed conversation about the policy areas under discussion.
California’s State and Local Revenue System On November 3,Californians will vote on Proposit also known as the California Schools and Local Communities Funding Act of The proposition would require commercial and industrial properties to be taxed based on their market value rather than on their purchase price.
State and Local Government Financial Analysis and Management provides students with an understanding of the fundamental fiscal issues confronting state and local administrators and policymakers, and with the basic technical knowledge and skills required of entry-level professionals in budget and finance offices, legislative agencies, and other organizations associated with the state-local.
As a result of the global COVID pandemic and the accompanying economic shutdown to slow its spread, US real gross domestic product (GDP) declined at a percent annual rate in the first quarter of For the second quarter, the Congressional Budget Office (CBO) projects a grim percent drop in real GDP in the second quarter compared with the first quarter of the year.
This works. Financing deficits or disposing of surpluses: The method used influences fiscal policy effect. Financing deficits can be done in two ways.
Borrowing: The government competes with private borrowers for funds and could drive up interest rates; the government may "crowd out" private borrowing, and this offsets the government expansion. The Fiscal Gap and the Cost of Delaying Fiscal Policy Reform.
The year fiscal gap is a measure of how much primary deficits must be reduced over the next 75 years in order to make fiscal policy sustainable.
That estimated fiscal gap for is percent of GDP (compared to percent for ).The New Americans (National Research Council,p. ) identifies two other reasons why estimates of current and long-run fiscal impacts are important to policy: First (as discussed in Section below), immigration may create taxpayer inequities across states and local areas; specifically, regions that receive disproportionate shares of.