Tax policy is frequently considered by policymakers as a tool for boosting economic performance in various ways, and the likely economic effects of tax policy are often hotly debated. A brief overview of the current economic context is thus a good starting point for looking at tax issues facing the current Congress. This report provides an overview of major tax issues. The report begins by describing three aspects of the economic context in which the tax policy debate during 2004 is likely to occur: the general state of the U.S. economy; the position of the federal budget; and the level of taxes in the United States.

This report examines the debate over the future of the Social Security system. It includes discussion of recent developments; background and analysis with information about the basic debate, specific area of contention, reform initiatives; and relevant legislation.

This report discusses various measures being considered by Congress that propose to amend the Endangered Species Act of 1973 (ESA). Major issues in recent years have focused on whether to incorporate further protection for property owners and reduce regulatory impacts, whether to increase the protection afforded listed species, or whether to modify various aspects of the ESA, such as the role of science in decision-making.

This report discusses the conference report on the energy bill which came to the house and senate floor for action the week of November 17, that contains several clean air act provisions. It also points out the most recent developments on clean air act issues.

This report examines the economic arguments for and against small business tax subsidies in the context of current congressional proposals to expand them. It begins with a brief description of current federal tax subsidies for small firms, moves on to consider the principal economic arguments for and against these subsidies, and concludes with a discussion of proposals in the 108th Congress to expand small business tax subsidies and their likely economic effects.