Research report

The federal government channels much of its support for asset building through the tax code. Asset-building tax subsidies, primarily for homeownership and retirement saving, totaled $384 billion in 2013. This report reviews federal tax expenditures for housing, retirement, savings, business...

March 7, 2014
Benjamin H. Harris, C. Eugene Steuerle, Signe-Mary McKernan, Caleb Quakenbush, Caroline Ratcliffe
Research report

Senator Mike Lee's Family Fairness and Opportunity Tax Reform Act (S.1616) would significantly expand tax benefits for children, repeal the alternative minimum tax, and repeal the Affordable Care Act surtaxes on earnings and net investment income. To partially offset the cost of these provisions...

March 4, 2014
Leonard E. Burman, Elaine Maag, Georgia Ivsin, Jeffrey Rohaly
Research report

In 1975, the federal income tax code joined the "War on Poverty" with the enactment of the earned income tax credit (EITC). Today, tax credits form some of the largest and most effective anti-poverty programs in the US. In 2012, the Census Bureau estimated that tax credits cut poverty (under a...

January 7, 2014
Leonard E. Burman, Elaine Maag
Research report

This study analyzes the effect of tax reforms on housing prices in selected cities. Using a model that incorporates transaction costs, the study finds (1) the presidents proposed limit on itemized deductions would have a minimal impact on housing prices; (2) eliminating itemized deductions...

June 5, 2013
Benjamin H. Harris
Research report

Although the recently passed American Taxpayer Relief Act instituted meaningful deficit reduction relative to previous policy, it still left the budget a far distance from any sustainable path. Under a plausible scenario, deficits never fall below 3.4 percent of GDP and rise to 5.4 percent of...

January 29, 2013
C. Eugene Steuerle, Benjamin H. Harris, Caleb Quakenbush
Research report

Surrounding many of the debates about the public sector has been one about which government level should be involved in performing which functions. As an empirical matter, both centralization and decentralization have occurred together throughout U.S. history. The vast majority of federalism...

November 28, 2012
C. Eugene Steuerle, Edward Gramlich, Hugh Heclo, Demetra Smith Nightingale
Research report

Recent economic research has improved our understanding of who bears the burden of the corporate income tax. One key finding is that returns to corporate capital are substantially "supernormal," returns in excess of the "normal" riskless return to waiting. The other key result is that...

September 13, 2012
James R. Nunns
Research report

Gas prices have increased substantially since the beginning of this year, continuing their upward trend since 1990. American drivers are pushing the federal and state governments to implement policies to lower gas prices. But gasoline taxes have not contributed to the increase in gas prices....

April 24, 2012
Kim S. Rueben
Research report

Realized income is a widely accepted measure of well-being. This paper examines the relationship between realized income and wealth and economic income, using a national sample of income tax returns matched with estate tax returns to compare the realized property income of individuals with the...

December 8, 2011
C. Eugene Steuerle
Research report

This article was published as part of the Tax Note series "The Legacy of the TRA '86." As current budget pressure forces us to consider tax reform as a means of raising revenue, past reforms provide us some valuable lessons. Reforms typically begin with a consensus that something is broken and...

October 20, 2011
C. Eugene Steuerle