2021 Budget and Tax Briefing: Federal Policy, Budget and Revenue Outlook

Government services, structures and systems are an essential foundation for a healthy economy where opportunity and prosperity are broadly and equitably shared. The twin pandemics of COVID-19 and systemic racism have exposed and deepened our current economy’s structural weaknesses and inequalities and spurred a new moment of national reckoning on racial justice. During this webinar, invited speakers explored the key provisions in the federal budget and recovery package, upcoming budget debates, and strategies to advance worker justice, social protections and an economy that works for all. 

• Marcia Egbert, Program Director, The George Gund Foundation (Moderator)
• Dr. Michael McAfee, President and CEO, PolicyLink
• Sharon Parrott, President, Center on Budget and Policy Priorities

 

         

Webinar Recap: On April 8, 2021, Economic Opportunity Funders hosted the first program of the 2021 Virtual Budget and Tax Briefing to explore the challenges and opportunities presented by the federal policy budget and revenue outlook. We were joined by Dr. Michael McAfee, President and CEO, PolicyLink and Sharon Parrott, President, Center on Budget and Policy Priorities—two of our country’s resident experts on the power of government investment to improve lives. The discussion was moderated by Marcia Egbert, program director for thriving families and social justice at The George Gund Foundation.  We’ve long acknowledged budgets as the most critical policy document the government produces. But in this moment, we are also reminded that they are first and foremost moral documents, conveying a governing philosophy that can transform people’s lives for good or ill.  The proposed Rescue Plan takes seriously who has been adversely impacted by the twin pandemics of COVID-19 and systemic racism, and it targets resources in important ways to those individuals and groups. It also presents a remarkable opportunity to realign our Government structures to a different set of values, making central a redesign for equity. And, the work is not done. Unless civil society and corporate America join with the federal government, we will not be able to get the results that we want. The polls indicate that there is public will, yet these are seismic shifts, and philanthropy has important roles to play too: funding advocacy in bold ways— getting people engaged in the conversation and engaged in “unbridled” ways; supporting successful implementation so that it can be demonstrated that states and communities can be good partners with funds received; ensuring that community voice is elevated; that good temporary policies are made permanent; and finally, working on the revenue side, demanding that sustainable equitable investments worthy of a 21st century nation, are supported by a 21st century revenue system.  

		“It’s time for us to get to equity by design, whether we’re talking about revenue structures, whether we’re talking about the harm that systems are doing, or just the legal and regulatory framework that we think would be most liberating for the nation.” — Dr. Michael McAfee, President and CEO, PolicyLink
		“The American Rescue Plan sets a new standard for how to respond to a crisis. But we can’t solve permanent problems with temporary solutions, and that’s what the Rescue Plan is. And it doesn’t pretend to be otherwise, so it’s not a criticism, it’s just the reality.” — Sharon Parrott, President, Center on Budget and Policy Priorities
		“Philanthropy is not the scaling structure for this nation. It is the federal government. It is our state government. It is our local government.” — Dr. Michael McAfee, President and CEO, PolicyLink
		“At the end of the day, sustainable equitable investments that are worthy of a 21st century nation, really require a 21st century revenue system. And one that’s far more adequate, far more equitable, and far more sustainable than our current revenue system that has seen two decades of tax cuts that have hollowed out our revenue sources for investment.” — Sharon Parrott, President, Center on Budget and Policy Priorities

 

Video Recording: The video recording for this session is available by request to grantmakers who work for a qualifying philanthropy. Contact Cema Siegel at [email protected] for more information.

Related Resources:

• Biden Details $1.52 Trillion Spending Proposal to Fund Discretionary Priorities, By Jim Tankersley, The New York Times, April 9, 2021.
• Implementing the American Rescue Plan, Center on Budget and Policy Priorities, April 8, 2021.
• Building an Equitable Recovery Requires Investing in Children, Supporting Workers, and Expanding Health Coverage, By Sharon Parrott, Chuck Marr, Arloc Sherman, and Judith Solomon, Center on Budget and Policy Priorities, March 24, 2021.
• American Rescue Plan Act Will Help Millions and Bolster the Economy, Center on Budget and Policy Priorities, March 15, 2021.
• Executive Order On Advancing Racial Equity and Support for Underserved Communities Through the Federal Government, January 21, 2021
• Racial Equity Governing Agenda, Policy Link (November 2020): PolicyLink is calling on government leaders to harness the energy on the streets and during the election cycle by committing to a Racial Equity Governing Agenda. It describes principles that will begin to create a fully inclusive society and an accountable, responsive democracy.

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Virtual Watch Parties: Since 2014, local watch parties have been organized to expand our reach by live streaming our federal budget and tax outlook session. Typically, watch parties are organized as two-hour programs, where participants come together to view the federal budget and tax outlook presentation (live or as a recording on a later date) and then engage in a discussion with local experts on how the current federal landscape impacts critical programs and services in their state and communities. We are thrilled to expand our reach of our 2021 program through eight virtual watch parties.  Thank you to our Watch Party Hosts who made this possible! Interested in learning more about virtual watch parties? Contact Cema Siegel at [email protected].   Many thanks to our terrific planning committee for their time and leadership in shaping this event!

• Ethan Frey, Ford Foundation
• Kit Judge, The Annie E. Casey Foundation and EOF Steering Committee
• Nisha Patel, Powered by Shakti
• Padmini Parthasarathy, Walter & Elise Haas Fund