The Federal Transit Administration (FTA) annually publishes one or more notices apportioning funds appropriated by law. In some cases, if less than a full year of funds is available, FTA publishes multiple partial apportionment notices. This notice is the first notice announcing partial apportionment for programs funded with Fiscal Year (FY) 2012 contract authority because the current authorization of FTA's programs provides contract authority for the period October 1, 2011 through March 31, 2012. Additionally, the Consolidated and Further Continuing Appropriations Act, 2012, provides full-year funding for FTA's programs funded from the General Fund of the United States Treasury, which are Administrative Expenses, the New Starts and Research programs and grants to the Washington Metropo...
In many settings, markets can be a highly resultive way to organize an economy, efficiently making the most of economic resources. In such a network, agents compare private benefits and private costs, ignoring such external costs of their operations as contamination. There is now a vast literature comparing and contrasting these approaches to controlling contamination. However, the pattern analysis in this literature has tended to take the region, and the administration, as a given. Consequently, it has tended to neglect important distinctions between the geographic scope of different pollutants, the enforcement authority of various levels of administration, the fiscal authority of various levels of administration, and the communications among these factors.
This paper sets out to examine the impact of the fiscal contract system on economic growth in China's different provinces. Empirical testing is conducted using the error components model and pooled cross-section (provinces) and time-series data from 1989 to 1993. The empirical results for the whole sample show an inclination towards convergence of regional economic growth, with any increase in regional tax revenue hindering investment and employment due to excessive taxation, which is unfavorable to economic growth. The same finding applies to extra-budgetary revenue. Ranked by their overall strength, the provinces are divided into economically advanced and backward groups for empirical testing. Comparison of the empirical results using a sample of the top and bottom fifteen, in terms o...
Assessing fiscal policy from the perspective of intergenerational equity presents substantial problems. There are genuine limitations on the ability to measure intergenerational effects and, importantly, a fundamental arbitrariness in defining the relevant framework. Even a perfect measurement of intergenerational effects, however, remains useless without a robust norm of intergenerational equity to evaluate whether those measured effects are fair. And yet the question is overwhelmingly important. Fiscal policy affects people alive today and people who will be alive in the future, and we cannot responsibly make decisions about those policy matters in ignorance or disregard of how they affect future generations. The question of intergenerational equity in fiscal policy is hardly misplace...
Although the Chinese economy has experienced a strong and rapid growth due to the success of its economic reform, the Chinese central government faces a stern fiscal decline. The fiscal problem has undermined the ability of the central government in completing many crucial governing tasks. By examining the institutional root of the fiscal problem, this paper argues that the fiscal decline is part of the ironic corollary of the decentralization strategy of China's economic reform which produces a "weak center, strong local" outcome. To fully address the problem, China should undertake major institutional reforms to redefine as well as institutionalize the fiscal roles of different levels of government.
Late in 2008 Americans saw an unprecedented change in their financial system; that change has resulted in taxpayer funds being used to provide capital to support the businesses comprising their financial system. Given the dramatic flow of capital from taxpayers to financial and other institutions, it is imperative that the federal government not underestimate the importance of the trust and confidence of their citizens. The Federal Accounting Standards Advisory Board plays an important role in helping the Consolidated Financial Report (CFR) become the best report card available. The CFR provides not only the budget results for the year but also information about the assets entrusted to and the liabilities incurred by the government on behalf of the taxpayers. The annual report card shou...
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