This is an hour and a half. [background noises] [background noises] hello, welcome everyone. We are delighted you are able to join us today for a conversation about recently released National Academy of sciences consensus report called reducing intergenerationaler poverty. My pleasure this morning is to introduce you to the panelists who will be speaking today pit will first year from three people who are coauthors on the report to will be telling you some Key Highlights from the report. I encourage you to read the report theres a lot of detail in their that we will not be able to cover today. And then we will have a broader discussion. Introducing the report shall be greg duncan he is distinguished professor at the university of california irvine. If he has long researched greatlooking childrens early behavior and skills relate to later life outcome. Heat previously, spent 25 years university of michigan working on the income dynamics with director at one point. Hell be joined by harr
Young was among the speakers. An hour and 45 minutes. Hi, i know everybody is excited about the budget scoring, but im asking to ask everyone to take their seats. Thank you all so much for coming, particularly on an intermittently rainy friday afternoon. We are so excited to be here for the launch of the budget lab. My name is marcy gimble, im with our chief economist and president , our hope is to bring attention to the way that budget scoring is an incredibly important part of the policy process, bring a new perspective with focus on innovation and transparency. Were incredibly excited for danny to get up here shortly and share some of the research that weve been working on. Before i do that, im going to briefly embarrass our team by pointing them out because without them this would not have been possible. We have rich, our director of policy analysis, ernie our director of economics, john rico, associate director of policy analysis, harris epsteiner, associate director of economics.
We would reduce to 22 . The current bill has it at 20 but 22 is just as competitive as 20 . Just like the current bill, it would be lower than the global average rate of 23 and just like the current bill would move us from last place to third place among the g7 countries. So it is just as progrowth. It makes us just as competitive, but it allows us to do the proworker reform that we decimately need. That we desperately need. It allows us to change the Child Tax Credit in the current bill to help working families even more. It would make it fully refundable up to the amount you pay in payroll tax. It would eliminate the marriage penalty, meaning that you would be paying more in taxes if you were a marriedum than you would if you are an individual. Number three, it would index it, the tax credit, to a chained c. P. I. , which means as inflation and the cost of living goes up, the credit doesnt lose its value. The one thing i want to emphasize is, who does this help . I have had some peop
Never worked anywhere in the world, and its not going to work here. Their answer to everything is big government. Well, there are two different points of view here, and i have to tell you i used to be on their side when i was a young fellow, when i was raised in poverty and came up the hard way and learned a trade and became a journeyman metal lather, which was one of the most Skilled Trades at the time. I have to say that these haunting refrains were used by democrats back then too, but look at this country and the mess its in, and its in a mess because of their philosophy. Weve got to change it. I admit with him that the Business Committee isnt always right and they are not always the best to spend our money, but the best to spend our money, but. The senate will soon vote on legislation on the broken tax code. And to provide significantie relief for tens of millions of middleclass families. And as we move to consider this legislation we will take another step that is a bipartisan goa
I recognize the senator from utah. Mr. Hatch i thank the presiding officer. I listened to the minority leaders remarks. If anybody believes that were going to be able to Work Together closely when they just want a they had us right there at the instance of socialism just a month ago and were still right on the cusp of socialism. I hate to say it, but our democratic friends are pushing us towards socialism which has never worked anywhere in the world, and its not going to work here. Their answer to everything is big government. Well, there are two different points of view here, and i have to tell you i used to be on their side when i was a young fellow, when i was raised in poverty and came up the hard way and learned a trade and became a journeyman metal lather, which was one of the most Skilled Trades at the time. I have to say that these haunting refrains were used by democrats back then too, but look at this country and the mess its in, and its in a mess because of their philosophy.