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Part A—Respond to the following questions regarding fiscal policy in complete sentences:
1. Define fiscal policy. Include the goals and tools of fiscal policy and the entity that controls it. [ financial coverage refers to the tax and
spending rules of the federal authorities. financial coverage choices are determined through the Congress and the administration; the
Fed plays no position in determining fiscal policy.
2. Should Congress create a law mandating a balanced federal budget? Support your position with evidence from the lesson. [Proponents
say balancing the price range protects destiny generations in addition to social applications like Social protection. Many mainstream
economists don't believe the U.S. government should balance its budget because any drastic action should derail the economy.]
Part B: Scan reputable news sites for recent articles relating to fiscal policy from within the last month. For example, you might find that
Congress is currently debating a new spending bill or just agreed to a tax cut. This list of search terms will help your search. Once you find
and read the article, fill in the requested information and respond to the four questions that follow in complete sentences. [ the continuing tax reduce of
greater than $one hundred fifty million includes growing the corporate and character flat tax charge of five.eight% starting next yr. The company tax charge
is presently 6%, the equal fee for the country’s maximum income bracket. beneath the bill, the primary $2,500 of earnings for individuals and $5,000 for
people submitting collectively might be exempt from taxes.The bill bolsters k-12 public faculties and submit-secondary schooling with $410 million yearly
from sales taxes beginning subsequent 12 months. Of the $410 million, $330 million is proposed for okay-12 and $eighty million for what lawmakers are
calling in-demand occupations. How all that education cash is spent may be decided by using destiny lawmakers.]
Article title/headline: Idaho Governor Signs Massive Tax Cut, Education Bill
Source (URL): u.s news
Date of publication: Thursday, Sept. 1, 2022.
1. Describe the fiscal policy action that is discussed in the article, including its status (such as under debate, approved, or rejected).[ The ongoing tax
cut of more than $150 million involves creating the corporate and individual flat tax rate of 5.8% starting next year. The corporate tax rate is
currently 6%, the same rate for the state’s highest income bracket. Under the bill, the first $2,500 of income for individuals and $5,000 for people
filing jointly would be exempt from taxes.]
2. Would the fiscal policy action discussed in the article promote price stability, full employment, and/or economic growth? Explain.[ The bill bolsters
ok-12 public faculties and publish-secondary schooling with $410 million annually from sales taxes starting next yr. Of the $410 million, $330 million
is proposed for ok-12 and $80 million for what lawmakers are calling in-call for occupations. How all that schooling cash is spent might be decided
by means of future lawmakers.]
3. Would the fiscal policy action discussed in the article, if approved, contribute to creation of a budget surplus or a budget deficit?
Would this likely increase, decrease, or not affect the national debt? Explain. [An initial version of the invoice made public last week covered an
annual growth of three% within the schooling spending, but that stricken a few Republican lawmakers and it turned into cut from the invoice added
Thursday morning. however the bill nonetheless retained aid amongst Democrats.]
4. Do you approve or disapprove of the fiscal policy action described in the article? Explain your response and identify at least one
tradeoff for your choice. [economic policy is using authorities spending and taxation to steer the financial system. Governments normally use fiscal
coverage to promote strong and sustainable increase and decrease poverty. The role and objectives of monetary policy gained prominence
throughout the recent global economi]

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Date of publication: Thursday, Sept. 1, 2022.

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