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TIF’s self-financing rhetoric can be used to shift risk onto taxpayers.

This research, "How Risk Undermines TIF's Self-Financing Premise: A Case Study of Hudson Yards," expands the evaluation of TIF by questioning the widespread understanding of TIF as a self-financing tool through analysis of its risks and costs to taxpayers. The authors find that disclosing and assigning project risk is necessary before the project’s public approval to provide a robust cost-benefit analysis to municipalities considering TIF implementation and to ensure taxpayers are fully informed.

Authors: Bridget Fisher and Flávia Leite

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Working paper— Contrary to the predictions of theoretical models, working longer does not significantly increase the share of older workers who are financially prepared for retirement. 

Brief— SCEPA's latest research finds that the COVID-19 recession worsens the inequality of job safety among older workers. 

Brief— SCEPA’s latest policy note by Senior Fellow William M. Rodgers III, former chief economist at the US Department of Labor, highlights a potential headwind to recovery from COVID-19. His findings show that states which lean or are solidly Republican re-opened sooner than Democratic states, and their testing and infection data are “trending poorly.”

Working paper— Workers at all earnings levels would benefit from expanding Social Security. SCEPA proposes defaulting workers into “Catch-Up” contributions, where— starting at age 50— they would contribute an additional 3.1% of their salary. The increase in alternative work arrangements among older workers is due to low wages stemming from older workers' decreased bargaining power. 

Brief— Social Security benefits are progressive and reduce the unequal distribution of retirement wealth generated by a broken employer-based retirement systemSocial Security benefits are progressive and reduce the unequal distribution of retirement wealth generated by a broken employer-based retirement system.

Working paper— Social Security benefits are progressive and reduce the unequal distribution of retirement wealth generated by a broken employer-based retirement systeThe Earned Income Tax Credit (EITC) can cause wage declines for workers who do not receive the tax credit. 

Workers in low-wage households are more likely to experience economic shocks and to withdraw from their retirement accounts, exacerbating pre-existing inequalities in the retirement savings system.