We provide new estimates of the federal budget outlook over 10-year and long-term horizons under three sets of assumptions: the Congressional Budget Office baseline, which assumes no changes in current law; an extended policy scenario, in which it is assumed that future Congresses act more or...
This study simulates - for 23 metropolitan areas - the change in equilibrium housing prices due to the Obama Administration's recently-proposed tax reforms. While none of the President's proposed tax reforms are directed at changing the value of housing, it is clear that under certain...
The Roadmap for America's Future Act of 2010 is a detailed reform package that overhauls Social Security, Medicare, Medicaid, and the U.S. federal tax system. In a January 27, 2010, report, the Congressional Budget Office (CBO) analyzed the spending provisions of the plan. This paper presents...
In 2010, 45 percent of tax returns will either remit no federal income tax or receive a net tax refund. But this figure overstates the share of taxpayers who would be unaffected by higher income tax rates. Raising all rates by 1 percent would hold only 34 percent of tax returns harmless; others...
Eric Toder testified before the Senate Committee on Finance on how recently proposed incentives for small business may help economic recovery. These incentives are only a small component of broader policies to accelerate recovery from the deep recession we have experienced in the past two years...
The Tax Policy Center has examined the key tax proposals in President Obama's 2011 budget. Separate discussions below describe each of the proposals including current law, proposed changes, and, when appropriate, the distributional effects. The budget as presented by the president lacks complete...
In August 2009, the Congressional Budget Office (CBO, 2009) projected that the federal budget deficit would total $7.1 trillion over the 2010-2019 decade-under current law. That outcome would require the 2001 and 2003 tax cuts to sunset as scheduled in 2011 and Congress to stop "patching" the...
William Gale and Benjamin Harris give the president a B, noting their approval of the administration's aggressive use of tax and fiscal policy in pursuing the paramount goal of saving the economy-but also concern about the resulting lack of progress in efforts to reform the tax and fiscal system...
Political theater? Such is the label many have attached to the tax reform task force headed by Paul Volcker. But I heard the same claim made about President Reagan's State of the Union request for a tax reform study from the Treasury Department to be made only after the 1984 election was over....
Dj Vu All Over Again
We provide new estimates of the federal budget outlook over 10-year and long-term horizons under three sets of assumptions: the Congressional Budget Office baseline, which assumes no changes in current law; an extended policy scenario, in which it is assumed that future Congresses act more or...
The Effect of Proposed Tax Reforms on Metropolitan Housing Prices
This study simulates - for 23 metropolitan areas - the change in equilibrium housing prices due to the Obama Administration's recently-proposed tax reforms. While none of the President's proposed tax reforms are directed at changing the value of housing, it is clear that under certain...
Preliminary Revenue Estimate and Distributional Analysis of the Tax Provisions in A Roadmap for America's Future Act 2010
The Roadmap for America's Future Act of 2010 is a detailed reform package that overhauls Social Security, Medicare, Medicaid, and the U.S. federal tax system. In a January 27, 2010, report, the Congressional Budget Office (CBO) analyzed the spending provisions of the plan. This paper presents...
Held Harmless by Higher Income Tax Rates?
In 2010, 45 percent of tax returns will either remit no federal income tax or receive a net tax refund. But this figure overstates the share of taxpayers who would be unaffected by higher income tax rates. Raising all rates by 1 percent would hold only 34 percent of tax returns harmless; others...
Tax Issues Related to Small Business Job Creation
Eric Toder testified before the Senate Committee on Finance on how recently proposed incentives for small business may help economic recovery. These incentives are only a small component of broader policies to accelerate recovery from the deep recession we have experienced in the past two years...
Tax Proposals in the 2011 Budget
The Tax Policy Center has examined the key tax proposals in President Obama's 2011 budget. Separate discussions below describe each of the proposals including current law, proposed changes, and, when appropriate, the distributional effects. The budget as presented by the president lacks complete...
Desperately Seeking Revenue
In August 2009, the Congressional Budget Office (CBO, 2009) projected that the federal budget deficit would total $7.1 trillion over the 2010-2019 decade-under current law. That outcome would require the 2001 and 2003 tax cuts to sunset as scheduled in 2011 and Congress to stop "patching" the...
The Status Report: Obama and the Tax System
William Gale and Benjamin Harris give the president a B, noting their approval of the administration's aggressive use of tax and fiscal policy in pursuing the paramount goal of saving the economy-but also concern about the resulting lack of progress in efforts to reform the tax and fiscal system...
Real Tax Reform is Always Hard: Some Advice for the Task Force
Political theater? Such is the label many have attached to the tax reform task force headed by Paul Volcker. But I heard the same claim made about President Reagan's State of the Union request for a tax reform study from the Treasury Department to be made only after the 1984 election was over....
Tax Cuts for New Hires: Not Yet Ready for Prime Time
Brookings Institution. Gary Burtless discusses the tax cut for new hires.