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Study: Economic Mobility Spending Falls Short

A new study by the Economic Mobility Project – a group of experts from prominent Washington think tanks — finds that the federal government spends more than $700 billion a year to promote mobility, but the funds often exclude lower-income families.
The authors dissected the budget to identify hundreds of tax and spending programs aimed at advancing mobility, ranging from tax breaks on home sales to work training programs to business incentives. In 2006, that amounted to $212 billion in direct spending (1.6% of gross domestic product) and $534 billion in tax subsidies (4.1% of GDP). More than 70% of the combined $746 billion was delivered through work subsidies or savings incentives that favored middle- and higher-income households.
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