Donald Marron

Donald Marron is the Director of Economic Policy Initiatives, Institute Fellow, Urban Institute; Director Emeritus of the Tax Policy Center. Marron previously served as a member of the President’s Council of Economic Advisers, as acting director of the Congressional Budget Office, and as executive director of Congress’s Joint Economic Committee. Before his government service, he taught economics and finance at the University of Chicago Graduate School of Business and served as chief financial officer of a health care software start-up. Marron was also a visiting professor at the Georgetown Public Policy Institute. Twitter: @dmarron

Everything You Should Know about Taxing Carbon

By :: June 25th, 2015

Climate change is hot. From the pope’s encyclical to the upcoming United Nations conference in Paris, leaders are debating how to slow and eventually stop the warming of our planet. We economists think we have an answer: put a price on carbon dioxide and the other gases driving climate change. When emissions are free, businesses, […]

Read More

Dynamic Scoring Forum: Three Things You Should Know About Dynamic Scoring

By :: February 27th, 2015

This is one of a series of guest TaxVox blog posts discussing dynamic scoring. The House recently changed the rules of budget scoring: The Congressional Budget Office and the Joint Committee on Taxation will now account for macroeconomic effects when estimating the budget impacts of major legislation. Here are three things you should know as […]

Read More

Bigger, Cleaner, and More Efficient: A Carbon-Corporate Tax Swap

By :: November 21st, 2014

The Cato Institute has organized an online forum to debate pro-growth economic policy reforms. Tax Policy Center scholars Bill Gale, Donald Marron, and Eric Toder have each contributed to the discussion. The United States could reduce its contribution to global climate change and increase domestic prosperity by taxing emissions of carbon dioxide and other greenhouse […]

Read More

Spin Alert: DOE Loans Are Losing Money, Not Making Profits

By :: November 17th, 2014

The Department of Energy snookered the media last week with a report that seems to show that its clean energy lending programs are profitable. “Remember Solyndra? Those loans are making money,” went a typical headline. Unfortunately, that’s not true. Taxpayers are losing money on DOE lending. Less than originally expected, and less than you would […]

Read More

A "Normal" Budget Isn't Really Normal

By :: October 20th, 2014

Treasury closed the financial books on fiscal 2014 last week. As my colleague Howard Gleckman noted, the top line figures all came in close to their 40-year averages. The $483 billion deficit was about 2.8 percent of gross domestic product, for example, slightly below the 3.2 percent average of the past four decades. Tax revenues […]

Read More

The $300 billion question: How should we budget for federal lending?

By :: September 29th, 2014

Lending programs create special challenges for federal budgeting. So special, in fact, that the Congressional Budget Office estimates their budget effects two different ways. According to official budget rules, taxpayers will earn more than $200 billion over the next decade from new student loans, mortgage guarantees, and the Export-Import Bank. According to an alternative that CBO […]

Read More

Does the Export-Import Bank Make or Lose Money?

By :: September 11th, 2014

Suppose your aunt decides to start a business making pizza ovens. She will design and build the ovens, and her daughter will manage operations. A bank is ready to lend her $100,000 to get started, but it wants someone to co-sign and be on the hook if she misses any payments. She offers to pay […]

Read More

Seven Tax Issues Facing Small Business

By :: April 9th, 2014

Today I had the chance to testify before the House Small Business Committee on the many tax issues facing small business. Here are my opening remarks. You can find my full testimony here. America’s tax system is needlessly complex, economically harmful, and often unfair. Despite recent revenue gains, it likely will not raise enough money […]

Read More

Time to Fix the Budget Process

By :: November 4th, 2013

Congressional negotiators are trying to craft a budget deal by mid-December. Fareed Zakaria’s Global Public Square asked twelve experts what they hoped that deal would include. My suggestion: it’s time to fix the budget process: Odds are slim that the budget conference will deliver anything big on substance. No grand bargain, no sweeping tax reform, […]

Read More

Should We Eliminate the Extraordinary Measures?

By :: October 11th, 2013

You’ve probably heard that Treasury will hit the debt limit on October 17 and soon thereafter it won’t be able to pay all of America’s bills. That second part is true: Congress needs to act soon—preferably before the 17th—so Treasury doesn’t miss any payments. But the first part isn’t: Treasury actually hit the debt limit […]

Read More