Last updated on: 8/6/2013 | Author: ProCon.org

Congressional Budget Office Biography

Position:
Con to the question "Does Lowering the Federal Corporate Income Tax Rate Create Jobs?"
Reasoning:

“The most common form of a general cut in business taxes is a reduction in the corporate tax rate. This approach, however, is not a particularly cost-effective method of stimulating business spending: Increasing the after-tax income of businesses typically does not create an incentive for them to spend more on labor or to produce more, because production depends on the ability to sell output.”

“Options for Responding to Short-Term Economic Weakness,” cbo.gov, Jan. 2008

Theoretical Expertise Ranking:
Organizations/VIPs/Others
Individuals and organizations that do not fit into the other star categories.
Description:

“Since its founding in 1974, the Congressional Budget Office (CBO) has produced independent analyses of budgetary and economic issues to support the Congressional budget process. The agency is strictly nonpartisan and conducts objective, impartial analysis, which is evident in each of the dozens of reports and hundreds of cost estimates that its economists and policy analysts produce each year. All CBO employees are appointed solely on the basis of professional competence, without regard to political affiliation. CBO does not make policy recommendations, and each report and cost estimate discloses the agency’s assumptions and methodologies. All of CBO’s products apart from informal cost estimates for legislation being developed privately by Members of Congress or their staffs are available to the Congress and the public on CBO’s website.”

“Overview,” cbo.gov (accessed July 23, 2013)

Mission:

“CBO is responsible for providing nonpartisan and thoughtful analysis to the Congress, and the agency is proud that its success in carrying out that mission, for more than 35 years, is widely acknowledged both on and off Capitol Hill. CBO has the utmost confidence in the objectivity of the work it produces, and the agency devotes considerable time and energy to explaining the basis for its findings as clearly as possible.”

“Our Transparency and Objectivity,” cbo.gov (accessed July 23, 2013)

Other:
Legislative agency
Contact Info:
Phone
202-226-2602
Email
communications@cbo.gov
Website
www.cbo.gov
Quoted in:
Pro & Con Quotes: Does Lowering the Federal Corporate Income Tax Rate Create Jobs?