Appendix Table A2

Fiscal multipliers of various spending and tax provisions

Spending increases
Temporary increase in food stamps 1.70
Temporary financing of work-share programs 1.64
Emergency unemployment insurance benefits 1.52
Increased infrastructure spending 1.44
General government spending 1.40
General aid to state governments 1.31
Low-income home energy assistance 1.13
Refundable tax credits (mix of spending and tax cuts)
Child Tax Credit, Recovery Act expansion 1.38
Earned Income Tax Credit, Recovery Act expansion 1.23
Refundable lump-sum tax rebates 1.22
Making Work Pay tax credit 1.19
American Opportunity Tax Credit, Recovery Act expansion* 1.09
Temporary tax cuts
Payroll tax cut for employees 1.25
Hiring tax credit 1.20
Payroll tax cut for employers 1.04
Nonrefundable lump-sum tax rebate 1.01
Across-the-board tax cut 0.98
Housing tax credit 0.82
Accelerated depreciation (bonus depreciation) 0.29
Loss carryback 0.25
Permanent tax cuts
Extend alternative minimum tax patch 0.53
Make capital gains and dividend tax cuts permanent 0.39
Make Bush tax cuts permanent 0.35
Make corporate income tax cut permanent 0.32
Make upper-income Bush tax cuts permanent* 0.25
Economic Policy Institute

* Imputed from Zandi multipliers as detailed in Bivens and Fieldhouse (2012a)

Sources: Zandi (2011a), Zandi (2011b), and Bivens and Fieldhouse (2012a)

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