ECONOMISTS TO DISCUSS HIGH COST AND INEFFECTIVENESS OF TAX SUBSIDIES FOR PRIVATE RETIREMENT PLANS

Call on National Commission on Fiscal Responsibility and Reform
to Reform Ineffective and Regressive Tax Breaks

Washington, DC - On Monday, October 18th, The New School's Schwartz Center for Economic Policy Analysis (SCEPA) and The Economic Policy Institute (EPI) will present "Federal Budgeting for Retirement Security: Examining Tax Expenditures for 401(k)s and Other Retirement Plans." The briefing will discuss the limitations and costs of tax expenditures for private pension funds and present responsible budgetary reforms for consideration by President Obama's National Commission on Fiscal Responsibility and Reform.

The panel will include three brief presentations. David Walker, president and CEO of the Peter G. Peterson Foundation and former US Comptroller General, will discuss the need to re-examine tax expenditures in the federal budget. Eric Toder, fellow at The Urban Institute, will present his research showing that current retirement tax expenditures largely benefit higher-income individuals. Teresa Ghilarducci, director of the Schwartz Center for Economic Policy Analysis (SCEPA) at The New School, will present her reform proposal for guaranteed retirement accounts to provide for both universal coverage and economic growth. Lawrence Mishel, President of the Economic Policy Institute, will moderate.

WHAT: Federal Budgeting for Retirement Security: Examining Tax Expenditures for 401(k)s and other Retirement Plans

WHO: Lawrence Mishel, Economic Policy Institute
David Walker, Peter G. Peterson Foundation
Eric Toder, Urban Institute and Urban-Brookings Tax Policy Center
Teresa Ghilarducci, Schwartz Center for Economic Policy Analysis

WHEN: Monday, October 18, 2010, 8:30 a.m.−10:30 a.m.

WHERE: Committee on Ways and Means Hearing Room
1100 Longworth House Office Building
Washington, DC.

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ABOUT THE SCHWARTZ CENTER FOR ECONOMIC POLICY ANALYSIS (SCEPA)
SCEPA works to focus the public economics debate on the role government can and should play in the real productive economy - that of business, management, and labor - to raise living standards, create economic security, and attain full employment. With a focus on collaboration and outreach, SCEPA provides original, standards-based research to engage the public, opinion leaders and elected officials in the discussion of how to create a more stable, equitable, and prosperous economy. For more information, visit www.newschool.edu/scepa.

ABOUT THE ECONOMIC POLICY INSTITUTE
The Economic Policy Institute (EPI) is an independent, nonprofit, nonpartisan research institute - or "think tank" - that researches the impact of economic trends and policies on working people in the United States and around the world.

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