Tax Policy Center

2016 budget

Federal Budget and Economy: TaxVox
While Republican presidential hopefuls were debating in Las Vegas, congressional leaders announced they had agreed to restore and extend dozens of special interest tax cuts—many permanently. And those GOP candidates for the White House? They’ve promised to repeal nearly all of the tax breaks
December 16, 2015Howard Gleckman
Federal Budget and Economy: TaxVox
For years, Congress has struggled with what to do with scores of temporary tax breaks that have come to be known as the “tax extenders .” The usual resolution: Lawmakers fiddle for months. Then, sometime in December, they mindlessly continue the immortal mostly-business tax breaks for another year
November 30, 2015Howard Gleckman
Federal Budget and Economy: TaxVox
Headline in this morning’s Washington Post : “In a Slog Forward, Congress Passes Budget.” I’ll leave it to others to parse what a slog forward is, but rest assured Congress has not passed a budget. Congressional Republicans, with no support from Democrats, have approved a budget resolution. But
May 7, 2015Howard Gleckman
Federal Budget and Economy: TaxVox
DOA budgets are hardly new. But House tax writers seem to be ignoring their own party’s fiscal plan. The House Budget Committee’s fiscal framework would not change expected revenues over the next 10 years. While it recommends enormous (though unspecified) spending cuts in an attempt to eliminate
March 19, 2015Howard Gleckman
Federal Budget and Economy: TaxVox
Two takeaways from the House Budget Committee’s 2016 fiscal plan : A) It is impossible and B) It is the latest example of the challenges of trying to include macroeconomic effects of tax and spending choices in budget scoring. Let’s start with A. Like most budget resolutions, this one builds only a
March 17, 2015Howard Gleckman
Campaigns, Proposals, and Reforms: TaxVox
President Obama’s latest tax package, which he’ll unveil in detail next week along with his new budget, would lower taxes for low-income households and significantly raise taxes for the highest income 1 percent—those making $663,000 or more, according to new Tax Policy Center estimates . Middle-
January 28, 2015Howard Gleckman