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Student debt forgiveness, residential energy credits, and equity

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  • Smith, V. Kerry

Abstract

Based on Internal Revenue Service data in 2019, the ranking of the estimated distributions for the median adjusted gross income (AGI), using binned data at the state level, indicates the highest income levels for those claiming energy tax credits and next highest for those with student loan interest deductions. The average of each group’s median income exceeds that of all taxpayers by at least $10,000. As a result, neither of these new programs can be supported on purely equity grounds.

Suggested Citation

  • Smith, V. Kerry, 2023. "Student debt forgiveness, residential energy credits, and equity," Economics Letters, Elsevier, vol. 222(C).
    • Handle: RePEc:eee:ecolet:v:222:y:2023:i:c:s0165176522004244
    DOI: 10.1016/j.econlet.2022.110950
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    References listed on IDEAS

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    1. Daniel Mangrum & Joelle Scally & Crystal Wang, 2022. "Three Key Facts from the Center for Microeconomic Data’s 2022 Student Loan Update," Liberty Street Economics 20220809, Federal Reserve Bank of New York.
    2. V. Kerry Smith & Michael P. Welsh & Richard Carson & Stanley Presser, 2022. "Using Administrative Data to Impute Income Non-Response in Household Surveys," NBER Working Papers 30420, National Bureau of Economic Research, Inc.
    3. Bruce D. Meyer & Wallace K. C. Mok & James X. Sullivan, 2015. "Household Surveys in Crisis," Journal of Economic Perspectives, American Economic Association, vol. 29(4), pages 199-226, Fall.
    4. Christian Kleiber, 2008. "A Guide to the Dagum Distributions," Economic Studies in Inequality, Social Exclusion, and Well-Being, in: Duangkamon Chotikapanich (ed.), Modeling Income Distributions and Lorenz Curves, chapter 6, pages 97-117, Springer.
    5. Carbone, Jared C. & Smith, V. Kerry, 2008. "Evaluating policy interventions with general equilibrium externalities," Journal of Public Economics, Elsevier, vol. 92(5-6), pages 1254-1274, June.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Student debt relief; Energy efficiency tax credits; Incomes of gainers;
    All these keywords.

    JEL classification:

    • H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
    • H24 - Public Economics - - Taxation, Subsidies, and Revenue - - - Personal Income and Other Nonbusiness Taxes and Subsidies

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