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CRS86630ENRpage46
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CRS86630ENRpage46
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of the Nation's petroleum consumption in that sector falls within the coalition States. As table 7 reveals, the nationwide average percentage of petroleum input to electric utilities is 6.2 percent. Most of the coalition States falling below that average do so because petroleum consumption in the utility sector is negligible. However, most of the coalition States in New England exceed
CRS86630ENRpage17
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CRS86630ENRpage17
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1 CRS-l3 The excise tax has supporters among those seeking revenue enhancements from an easily administered tax but not wishing to see oil producers profit from an import fee. Adherence to this View hold that the income redistribution which would likely result from domestic oil tracking the price of (taxed) imported petroleum would be regionally unfair and undesirable.. A Btu Tax: The Natural Gas
CRS86630ENRpage12
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., A key assumption underlying this comparison is that lower oil prices will stimulate U.S. oil consumption in 1986 over increases due to expected strong economic growth. Based on recent macro forecasts, an average l986 price of $16.50 is used. Short-run price elasticities are then applied to estimate 1986 consumption under current market conditions. This baseline is then used to approximate how much
CRS86630ENRpage01
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CRS86630ENRpage01
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Policy Division March 24, 1986 Govennnent Pubhcafions Uni? I AUG 02 1994 Washington University Libraries St. Louis, MO 63130
CRS86630ENRpage28
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CRS-24 energy consumption in 1983, the latest year for EIA data. 12/ The effect of this cost increase on 1986 U.S. energy consumption on average would be negligible, but energy intensive industries making commodity items with normal profit margins would be hurt somewhat. For an estimated 1.6 percent increase in 1986 U.S. total energy cost, consumption would be reduced by less than .16 percentage
CRS86630ENRpage22
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forward. For purposes of this assessment, several assumptions will be made and their demand effects analyzed for each of the alternate energy taxes. First, a 1986 average crude oil price of $16.50 per barrel is used as the base on which any tax or fee would be imposed--a reasonable approximation of where
CRS86630ENRpage03
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CRS86630ENRpage03
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Import Fee. Oil Excise Tax. Gasoline Tax. Btu Tax . SUPPLY CONSIDERATIONS. EASE OF ADMINISTRATION . Gasoline Tax. Oil Import Fee. Oil Excise Tax. Btu Tax . EFFICIENCY . EQUITY ISSUES. U1 4>4-\uJt\3I\> IO 12 l3 l6 18 18 22 23 23 23 24 25 25 26 26 27 27 29
CRS86630ENRpage29
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CRS-25 low as $12/bbl at this writing--could cause the output of stripper and other low output wells to decline. The drilling decline represents a long-term concern, since drilling ultimately leads to reserve additions, which supports production in out- years. The nearer term concern centers on the output of low-yield wells. Over a million bbls per day of domestic production comes from stripper
CRS86630ENRpage26
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CRS-22 some short run price responsiveness to total U.S. energy demand, a 37 percent decrease in oil prices would result in at least a 16 percent decrease in total U.S. energy costs. Given a short run price elasticity of -.1, for example, this would suggest a 1.6 percent increase in total Btu consumption over any increases due to l986 economic expansion. Given the above 1986 baseline assumptions
CRS86630ENRpage38
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CRS-34 TABLE 2. States in the Northeast~Midwest Coalition With Above Average Sensitivity to Energy Cost Increases If Per Capita Oil Consumption Per Capita Natural Gas Consumptionn Maine Illinois Delaware Indiana New Jersey Michigan Connecticut I Iowa Massachusetts Oil as a Percent of Total Industrial Energy Use~% Natural Gas a a Percent of Total Industrial Energy Use: Maine Delaware Massachusetts
CRS86630ENRpage06
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CRS-2 ill for future production. Near-term adverse market conditions will also adversely affect the large number of marginal wells that contribute an important part of U.S. oil supply, Some are seriously concerned about long—term resource conservation and dependence on foreign energy suppliers. A tax would help preserve the price structure which has resulted in price- induced conservation. Absent
CRS86630ENRpage48
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: * Real GNP reductions of 0.7 percent in 1987 and 0.7 percent in 1988 result. * The rate of inflation (measured by the GNP deflator) is increased by 0.9 percent in I987 and 0.5 percent in 1988. By l99O the effect of a lower growth and smaller deficits results in a 0.2 percent reduction in prices.
CRS83110EPWpage84
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CRS83110EPWpage84
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CRS-68 17. ASSISTANCE TO REFUGEES (CASE componsmr) T Note: This program supersedes the program of Assistance to Indo- chinese refugees, enacted in 1975, for which FY 1979 and FY 1980 data appear in a summary table at the end of this report. A. Funding Formula The Refugee Act of 1980 authorizes 100 percent federally funded cash assistance for needy refugees during their first years in the United
CRS83110EPWpage79
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CRS83110EPWpage79
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payments of the credit were permitted beginning on July 1, 1979. Since October 1981, P.L. 97-35 has re- quired welfare offices to assume that an AFDC family considered eligible for EITC is receiving it on an advance-basis (as an addition to the paycheck), regardless of whether it is so paid. In FY 1981 earned income credits (generally earned in 1980) totalled $2,008 billion, of which about $1.318 billion
CRS83110EPWpage78
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CRS83110EPWpage78
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CRS-62 14. EARNED INCOME TAX CREDIT (EITC) _1_/ A. Fundin§Formula This benefit is 100 percent federally funded. B. Eligibility Requirements The Earned Income Tax Credit (EITC) is available to a parent_g/ or parents) with earnings whose adjusted gross income is not above $10,000 annually and who maintains a household 3/ for (a) a child who is either under 19 or a student; or (b) a son 5? daughter
CRS83110EPWpage83
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CRS—67 16. FOSTER CARE Note: The program described here started on October 1, 1980, established in a new part (Part IV-E) of the AFDC title of the Social Security Act. Previously, foster care was a separate component of the regular AFDC program. A. Funding Formula The Medicaid matching formula (see program No. 1) decides the Federal funding share in each State. Under the Medicaid formula
CRS83110EPWpage85
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CRS-69 Effective April 1, 1981, only refugees or entrants in the United States three years or less qualify for cash assistance reimbursements. Effective April 1, 1982, the special "refugee cash assistance" made available to those refugees or entrants who are categorically ineligible for AFDC or SS1 ends 18 , months after the individual's entry into the U.S. For the nextm 18 months
CRS83110EPWpage81
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.4 billion, all in non-Federal funds. State and local governments provided an average of $158 monthly in GA to an average of 728,923 cases. In December 1980 payments averaged $161 per case and $130 pen recipient. Enrollment totalled 795,915 cases 1] and the average GA "case" consisted of 1.24 persons, indicating that 2/ Arizona, Delaware, D.C., Georgia, Guam, Louisiana, Maryland
CRS83110EPWpage82
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CRS-66 relatively few family units are enrolled. (For medical aid provided under State-local GA programs, see program No. 3). The Department of Health and Human Services (DHHS) stopped publishing dollar data for GA in 1981. During March 1981, according to reports from 18 States, D.C., and the outlying areas, GA payments averaged $233 per family. Payments in these 22 jurisdictions totalled $88
CRS83110EPWpage86
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) if their counted income is below limits in Federal law and regulations. Countable annual income limits (June 1982-Dec. 1983) are $6,060 for one parent alone and for each of two parents not living together; $8,149 for two parents living together, or for a remarried parent living with his spouse. These amounts are up 7.4 percent from those effective on June 1, 1981, reflecting the rise in the Consumer Price Index

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