Research report

Because of the strikingly large long-term fiscal gaps being projected recently for the United States, researchers have searched for hidden assumptions underlying revenue projections that might be biasing the results. This paper addresses the extent to which alternative projections of tax-...

July 26, 2004
Alan J. Auerbach, William G. Gale, Peter Orszag
Research report

For the last several years, Congress has been on a spending spree unlike any in the nation’s history — a turnaround of about 7 percent of gross domestic product in going from surplus to deficit. In addition to size, what made this spree unique was that tax cuts, defense increases, large...

December 6, 2004
C. Eugene Steuerle
Research report

Tax programs that provide deductions to homeowners or credits to both builders and owners, greatly exceed direct federal outlays on housing. The beneficiaries of these tax programs tend to be middle-to-upper income families who own their homes while the recipients of outlays tend to be lower...

February 28, 2005
Adam Carasso, C. Eugene Steuerle, Elizabeth Bell
Research report

Despite substantial attention given to fiscal policy concerns in recent years, the federal government's fiscal status has continued to deteriorate, with the enactment of tax cuts, a massive new Medicare entitlement, increased spending on defense and homeland security, and related economic...

April 17, 2006
Alan J. Auerbach, William G. Gale, Peter Orszag
Research report

The Tax Increase Prevention and Reconciliation Act of 2005 will extend the low tax rates on capital gains and dividends through 2010, grant temporary relief from the individual alternative minimum tax through 2006, and extend several expiring business tax breaks. To prevent Senators from raising...

May 11, 2006
Leonard E. Burman
Research report

In a tax code with no shortage of ironies, the alternative minimum tax (AMT) stands out. Created by Congress in 1969, it was aimed at millionaires, but relatively few millionaires pay it. It is billed as a low-rate levy, but most of its victims face higher taxes because of it. It undermines two...

October 29, 2007
Leonard E. Burman
Research report

In this article, C. Eugene Steuerle explores the political and budgetary pressures facing Charles Rangel, the House Ways and Means Committee Chairman, with regard to the Alternative Minimum Tax (AMT). He further analyzes various options to fix the AMT, the ramifications for Rangel, and the path...

January 18, 2008
C. Eugene Steuerle
Research report

Much of the state tax policy discussion during the past decade has centered on the performance of corporate income taxes and ways to restructure them. This report focuses on state responses to the weak corporate tax collections during the 2000-2003 period as well as to the revenue performance...

January 29, 2008
William F. Fox, LeAnne Luna, Matthew N. Murray
Research report

Relative to previous recessions, the 2001 recession was short and not very deep. Even so, it had a significant effect on the fiscal condition of state and local governments. This report examined how the recession affected state and local government spending on K-12 education in the three years...

January 30, 2008
James Alm, Robert D. Buschman, David L. Sjoquist
Research report

Tax and fiscal policy will loom large in the next president's domestic policy agenda. Nearly all of the tax cuts enacted since 2001 expire at the end of 2010 and the individual alternative minimum tax (AMT) threatens to ensnare tens of millions of Americans. While a permanent fix palatable to...

July 23, 2008
Leonard E. Burman, Surachai Khitatrakun, Greg Leiserson, Jeffrey Rohaly, Eric Toder, Roberton C. Williams