Institute fellow Eric Toder testified before the US Senate Committee on Finance during a hearing entitled “Navigating Business Tax Reform.” In his testimony, Toder presented his research on the state of the corporate income tax and a review of current legislative proposals. He outlines two...
Presidential candidate Bernie Sanders proposed a financial transaction tax to finance universal access to higher education. TPC estimated that it would raise $52 billion in its first year while Pollin, Heintz, and Herndon estimated it would raise $300 billion. This brief reconciles those...
Presidential candidate Bernie Sanders proposes significant increases in federal income, payroll, business, and estate taxes, and new excise taxes on financial transactions and carbon. New revenues would pay for universal health care, education, family leave, rebuilding the nation’s...
Hillary Clinton proposes raising taxes on high-income taxpayers, modifying taxation of multinational corporations, repealing fossil fuel tax incentives, and increasing estate and gift taxes. Her proposals would increase revenue by $1.1 trillion over the next decade. Nearly all of the tax...
This paper reflects on changes in tax policy in past decades and predicts how tax policy may change under a new president in 2017. The author examines the potential of implementing a carbon tax as a means to raise government revenue and reduce carbon gas emissions.
How should governments use the considerable revenue carbon taxes can raise? There are many options for cutting other taxes, increasing spending, or reducing borrowing. We organize the options into four goals: offset the new burdens that a carbon tax places on consumers, producers, communities,...
Presidential candidate Ted Cruz’s tax proposal would (1) repeal the corporate income tax, payroll taxes for Social Security and Medicare, and estate and gift taxes; (2) collapse the seven individual income tax rates to a single 10 percent rate, increase the standard deduction, and eliminate most...
Marco Rubio’s tax proposal would convert the federal income tax into a consumption tax by not taxing investment income of individuals and by converting the corporate income tax into a cash-flow consumption tax. It would replace most deductions and exemptions with a universal credit; eliminate...
NOTE: TPC updated its analysis of Donald Trump's tax plan on October 18, 2016. The revised analysis is available here . The estimates in this 2015 report should no longer be cited. Please use...
This paper analyzes presidential candidate Jeb Bush’s tax proposal. It would reduce individual and business marginal tax rates, curtail tax expenditures, and convert the corporate income tax into a cash-flow consumption tax. The proposal would cut taxes at all income levels, reducing federal...
Approaches to Business Tax Reform
Institute fellow Eric Toder testified before the US Senate Committee on Finance during a hearing entitled “Navigating Business Tax Reform.” In his testimony, Toder presented his research on the state of the corporate income tax and a review of current legislative proposals. He outlines two...
A Comparison of TPC and the Pollin, Heintz and Herndon Revenue Estimates for Bernie Sanders's Financial Transaction Tax Proposal
Presidential candidate Bernie Sanders proposed a financial transaction tax to finance universal access to higher education. TPC estimated that it would raise $52 billion in its first year while Pollin, Heintz, and Herndon estimated it would raise $300 billion. This brief reconciles those...
An Analysis of Senator Bernie Sanders's Tax Proposals
Presidential candidate Bernie Sanders proposes significant increases in federal income, payroll, business, and estate taxes, and new excise taxes on financial transactions and carbon. New revenues would pay for universal health care, education, family leave, rebuilding the nation’s...
An Analysis of Hillary Clinton's Tax Proposals
Hillary Clinton proposes raising taxes on high-income taxpayers, modifying taxation of multinational corporations, repealing fossil fuel tax incentives, and increasing estate and gift taxes. Her proposals would increase revenue by $1.1 trillion over the next decade. Nearly all of the tax...
The Wisdom of a Carbon Tax
This paper reflects on changes in tax policy in past decades and predicts how tax policy may change under a new president in 2017. The author examines the potential of implementing a carbon tax as a means to raise government revenue and reduce carbon gas emissions.
How to Use Carbon Tax Revenues
How should governments use the considerable revenue carbon taxes can raise? There are many options for cutting other taxes, increasing spending, or reducing borrowing. We organize the options into four goals: offset the new burdens that a carbon tax places on consumers, producers, communities,...
An Analysis of Ted Cruz's Tax Plan
Presidential candidate Ted Cruz’s tax proposal would (1) repeal the corporate income tax, payroll taxes for Social Security and Medicare, and estate and gift taxes; (2) collapse the seven individual income tax rates to a single 10 percent rate, increase the standard deduction, and eliminate most...
An Analysis of Marco Rubio's Tax Plan
Marco Rubio’s tax proposal would convert the federal income tax into a consumption tax by not taxing investment income of individuals and by converting the corporate income tax into a cash-flow consumption tax. It would replace most deductions and exemptions with a universal credit; eliminate...
Analysis of Donald Trump's Tax Plan
NOTE: TPC updated its analysis of Donald Trump's tax plan on October 18, 2016. The revised analysis is available here . The estimates in this 2015 report should no longer be cited. Please use...
An Analysis of Governor Bush's Tax Plan
This paper analyzes presidential candidate Jeb Bush’s tax proposal. It would reduce individual and business marginal tax rates, curtail tax expenditures, and convert the corporate income tax into a cash-flow consumption tax. The proposal would cut taxes at all income levels, reducing federal...