- On Capitol Hill
- On Wall Street
- In the Press
- Policy Reform Work
Our projects are designed to empower policy makers to create positive change. With a focus on collaboration and outreach, we provide original, standards-based research on key policy issues.
SCEPA joined with the Economic Policy Institute on Capitol Hill to brief congressional staff and policy experts on tax expenditures, or incentives given through the tax code without scrutiny by Congress.
SCEPA economists are working on the prospects for a more progressive economic order to emerge from the shock of the recession. They have published papers and documents that place current events in a longer-term context as well as policy proposals to deal with short-term concerns. They are also documenting the emerging discussion of how the discipline of economics is reacting to the Great Recession and the questioning of conventional economic analysis.
Lance Taylor, a SCEPA Faculty Fellow, presents an overview of his new book, Maynard’s Revenge, in a Google Tech Talk.
The book, published this November by Harvard University Press, is a timely analysis of mainstream macroeconomics, posing the need for a more useful and realistic economic analysis that can provide a better understanding of the ongoing global financial and economic crisis.
The government spends $143 billion through tax breaks in an effort to expand pension coverage and security. Yet, over half of the American workforce does not have a pension. Retirement insecurity hurts business plans, workers’ lives and retiree well-being. Reform is needed.
SCEPA’s Guaranteeing Retirement Income Project, sponsored by the Rockefeller Foundation and in collaboration with Demos and the Economic Policy Institute, has a plan to guarantee safe and secure retirement income for all Americans.
by Rick McGahey, SCEPA Fellow
Like most economists with public policy experience (I served as Executive Director of the Congressional Joint Economic Committee in the 1990s), I've always assumed the debt ceiling would be raised before the U.S. goes into default. Although there is a good deal of political posturing, and a hard core of Tea Party diehards who actually think it would be all right to default, in the end I figured that cooler heads would prevail—or Wall Street and business leaders would convince Republicans not to take the economy over the brink.
But now I think default is possible, and getting more probable each day. The House Republicans are dominated by their hard-liners, who this morning announced they would reject the latest plan offered by their own Republican Speaker of the House John Boehner, who apparently cannot deliver votes from his own caucus.
SCEPA has published the Working Paper "Wall Street's Stake in Pension Reform" by SCEPA Director Teresa Ghilarducci and Research Assistant David Stubbs as part of our Guaranteeing Retirement Income Security Project, which is generously supported by the Rockefeller Foundation. The paper identifies the challenges and opportunities reform presents to pension fund managers in the United States.
Notably, this is the first study to examine how major pension proposals will affect Wall Street firms. As this report was being prepared in the summer of 2011, America’s institutional investors continued to face significant regulatory uncertainties as policy makers – including the National Commission on Fiscal Responsibility and Reform and President Biden’s Middle Class Task Force – work to address the nations’ retirement crisis. Any change to the system will greatly affect the nation’s financial industry, as 21% of assets under management are retirement assets.
Judy Woodruff of PBS's NewsHour leads a debate over the Consumer Financial Protection Bureau's role, responsibilities and funding with SCEPA Fellow Jeff Madrick and David Hirschmann of the U.S. Chamber of Commerce.