2016 election

Could We Get the Tax Code Down to Three Pages? Why Would We Want To?

Republican presidential candidates say they want to slash the tax code. It is too big, too complicated, and too laden with provisions to help special interests. They are right. But in today’s world, cutting the statute to a few pages would only result in ceding massive new authority to the Treasury

November 12, 2015Howard Gleckman

Federal Budget and Economy: TaxVox

The GOP Debate: Squabbles Over Refundable Credits, Deductions, and Conservatisim

Last night’s GOP presidential debates ( here’s a transcript of the main event) highlighted some important tax policy contrasts among the candidates. One thought refundable credits are conservative economic policy while another did not. Nearly all would preserve deductions for mortgage interest and

November 11, 2015Howard Gleckman

Federal Budget and Economy: TaxVox

Tax Reform Is Possible, But It Won’t be Easy

At a Tax Policy Center conference on tax reform yesterday, Jason Furman, the chair of the President’s Council of Economic Advisors, said that a major rewrite of the tax code would make little progress until Congress breaks the current impasse over the treatment of pass-throughs-- firms such as

November 4, 2015Howard Gleckman

Federal Budget and Economy: TaxVox

Would Speaker Ryan Boost the Chances for Tax Reform? Not Until 2018

Paul Ryan has been an enthusiastic supporter of tax reform for years. Will his elevation to House Speaker make reform more likely? Perhaps, but not any time soon. Reform efforts got two big boosts this week. The first was the GOPs decision to choose Ryan to lead the House. The second was outgoing

October 29, 2015Howard Gleckman

Campaigns, Proposals, and Reforms: TaxVox

How Investment Managers (And Maybe You) Would Benefit From Trump’s Tax Plan

Donald Trump says he’d eliminate the tax break on carried interest. What he doesn’t say is he’d give the investment managers who now benefit from that scheme an even bigger tax cut than they get today. And, it turns out, Trump’s new tax regime would not only benefit hedge fund managers, but also

October 1, 2015Howard Gleckman

Campaigns, Proposals, and Reforms: TaxVox

Trump Proposes a Huge Tax Cut

Donald Trump, who likes superlatives, has weighed in with his version of a standard cut-the-rates, broaden-the-base tax reform . And like many other GOP tax rewrite proposals, this one appears to be an enormous tax cut skewed largely in favor of high-income households. While Trump claims the plan

September 28, 2015Howard Gleckman

Campaigns, Proposals, and Reforms: TaxVox

Despite Promises, Jeb Bush’s Tax Plan Wouldn’t Eliminate Marriage Penalties

GOP presidential candidate Jeb Bush offered a tax plan last week that he says “eliminates the marriage penalty.” But it may not help many low-income working families. A married couple is penalized if it pays more tax filing a joint return than if each spouse could file individually. Conversely,

September 16, 2015Roberton C. Williams

Campaigns, Proposals, and Reforms: TaxVox

The Cost of the Bush Tax Cuts, and What It Might Mean

While GOP presidential hopeful Jeb Bush has been reluctant to describe his tax plan as a tax cut, economists close to him have not. And newly-released cost estimates of his tax reform plan -- and their consequences--are worth considering. The very short version: His plan would add at least a

September 10, 2015Howard Gleckman

Federal Budget and Economy: TaxVox

Obama-Era Tax Reform: RIP

If you still thought there was any chance Congress would pass tax reform before the next election, you can officially abandon hope. In an online interview published Sunday on Morning Consult , Senate Majority Leader Mitch McConnell (R-KY) hammered the last nail in the coffin. Asked about his

June 8, 2015Howard Gleckman