Near-term macroeconomic effects of President Obama's fiscal 2013 budget
|Budgetary cost (+) or savings (-) (billions)||GDP impact (% GDP)||Employment impact (thousands of jobs)|
|American Jobs Act tax cuts*||$57||$19||0.2%||0.1%||246||110|
|Upper-income tax provisions||-107||-99||-0.2||-0.1||-202||-178|
|Other tax provisions||-7||7||0.0||0.0||-17||17|
|Net discretionary spending||$11||$2||0.1%||0.0%||117||16|
|American Jobs Act spending*||$92||$50||0.8%||0.4%||994||496|
|Health and other
* With the exception of the payroll tax cut and emergency unemployment benefits, all American Jobs Act provisions have been shifted forward one year.
Note: All policies are scored relative to EPI's current policy baseline. This table presents the impact in calendar years 2013 and 2014.
Source: Authors' analysis of Congressional Budget Office, Office of Management and Budget, and Moody's Analytics data
This chart appears in: