The Paycheck Protection Programme: A Tax Expenditure in Reverse?

• Victor Thuronyi ^[1]
  1. [1] International Monetary Fund
• Localización: Intertax, ISSN 0165-2826, Vol. 48, Nº. 8-9, 2020, págs. 787-789
• Idioma: inglés
• Texto completo no disponible (Saber más ...)
• Resumen

  • The Paycheck Protection Programme (PPP) enacted by the US Congress in March 2020 furnishes an example of a spending programme that could have been structured as a tax provision. If it had been enacted as a tax provision, the PPP would almost certainly have been drafted more tightly, in a way that could support a precise revenue estimate. The Internal Revenue Service might have administered the PPP more effectively and at a lower administrative cost than was involved in using private banks. The lack of public hearings before enactment contributed to poor design of the PPP.