COMMITTEE ON THE BUDGET EDMUND S. MUSKIE, Maine, Chairman WARREN G. MAGNUSON, Washington HENRY BELLMON, Oklahoma FRANK E. MOSS, Utah ROBERT DOLE, Kansas WALTER F. MONDALE, Minnesota J. GLENN BEALL, JR., Maryland ERNEST F. HOLLINGS, South Carolina JAMES L. BUCKLEY, New York ALAN CRANSTON, California JAMES A. MCCLURE, Idaho LAWTON CHILES, Florida PETE V. DOMENICI, New Mexico JAMES ABOUREZK, South Dakota JOSEPH R. BIDEN, JR., Delaware SAM NUNN, Georgia DOUGLAS J. BENNET, JR., Staff Director JOHN T. McEvoy, Chief Counsel (UI) CONTENTS Page II. Costs and prices under direct Federal control: A. The Administration's budget proposals for fiscal 1977.. B. Direct price effects of other Government programs- III. The effect of the budget on inflation and unemployment: B. The impact of an income tax cut on inflation and unemploy- C. The impact on inflation and unemployment of direct cuts in Appendix... Inflation and unemployment on the 2 CBO growth paths. Estimated effect on price level and unemployment of various programs 18 A. The problem.. B. Goals. C. Basic approaches and decisions. II. Growth: How fast?.. III. The "direct response" of the Federal budget to unemployment: A. A variety of instruments ---- B. Enhanced employability and incentives - C. Income maintenance for the employable- D. Direct employment.-- (III) 30 30 31 36 41 44 49 IV Page Unemployment and employment under two economic growth paths.. Difference in employment by age, sex, and race by achieving 6 percent rather than 5 percent average real output growth... Unemployment rates by race, sex, and age during the current recession. Federal anti-employment instruments--- The Federal direct response to unemployment. “Direct response" budget (Path A)- “Direct response" budget (Path B)- Demographic changes in the labor force and unemployment rolls ---- Outlays from income support programs for the employable, 1976–1981. Changes in characteristics of unemployment... Changes in the budget's direct response to unemployment from a targeted public employment program.. Charts and graphs: Distribution of the civilian labor force and recession-induced unem- ployment among age groups. 32 FEDERAL ASSISTANCE TO STATE AND LOCAL GOVERNMENTS 63 65 66 70 1 Preface. I. Introduction and summary-- II. Current programs and the President's proposals ... III. Objectives of Federal assistance----- IV. Fiscal year 1977 budget issues and options: A. General revenue sharing- B. Anti-recession assistance.-- C. Law enforcement assistance.. D. Exclusion from Federal income taxes of interest on municipal bonds --- E. The President's proposals for categorical grants. V. Conclusion.. 74 75 80 81 82 85 Tables: 67 Federal grants to State and local governments (outlays) ments, fiscal years 1967 and 1976.--. Federal grants-in-aid outlays by function. Comparison of anti-recession programs.-- Comparison of President's policy for block grants proposals --- 68 70 77 83 |
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