381. Options to Finance the Additional War Costs
- Author:
- Leonard E. Burman and Jeff Rohaly
- Publication Date:
- 09-2003
- Content Type:
- Working Paper
- Institution:
- Urban Institute
- Abstract:
- The President has requested an additional $87 billion to finance the war and reconstruction costs in Iraq. Commentators and some members of Congress have expressed an interest in options to offset these additional costs so as not to add on to the burgeoning budget deficit, which CBO estimates to be $480 billion in fiscal year 2004. This note considers four options to raise approximately enough revenue to finance the additional war costs. The estimates are approximate because they do not account for additional tax avoidance that higher rates might provoke, a significant factor in official revenue estimates.
- Topic:
- Government, Political Economy, and War
- Political Geography:
- United States and Iraq