Revenue Sharing and the City

By Walter W. Heller; Richard Ruggles et al. | Go to book overview

A SYMPATHETIC REAPPRAISAL OF REVENUE SHARING

Walter W. Heller*

Looking beyond current rising Vietnam costs, big deficits, and contingent tax increases, one can visualize an $8 billion annual automatic growth in federal revenues generating new leeway for fiscal dividends--tax cuts, tax sharing, program increases --if Vietnam demands level off. If rising revenues are not to hold the economy back under such circumstances, we need to get our bets down promptly on the competing entrants in the fiscal drag race.

If contingency fiscal planning is to be meaningful, it has to move from academic discussion to the hard process of defining the alternatives more sharply and setting the dollar or percentage priorities that flow not just from our assumptions about projected conditions of the U.S. economy but from our ordering of policy objectives and values.

____________________
*
Professor of Economics, University of Minnesota; former Chairman, Council of Economic Advisers.

I wish to acknowledge Richard P. Nathan's valued assistance in the preparation of this paper, especially the section dealing with the pass-through to local government. Also, since my "reappraisal" here is not really at odds with my appraisal in Chapter 3 of New Dimensions of Political Economy ( Harvard University Press) published in 1966, the reader will not be surprised to learn that this paper owes a considerable debt to that chapter.

-3-

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Revenue Sharing and the City
Table of contents

Table of contents

  • Title Page iii
  • Contents v
  • Preface vii
  • I THE PAPERS 1
  • A SYMPATHETIC REAPPRAISAL OF REVENUE SHARING 3
  • THE FEDERAL GOVERNMENT AND FEDERALISM 39
  • II THE DISCUSSION 73
  • REFLECTIONS ON THE CASE FOR THE HELLER PLAN 75
  • FEDERAL GRANTS TO CITIES, DIRECT AND INDIRECT 92
  • COMMENTS ON BLOCK GRANTS TO THE STATES 100
  • REBUTTAL COMMENTS 107
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