Andrew Samwick

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

Individual Taxes: TaxVox

House GOP Leadership Would Require Dynamic Scoring of Some Tax Bills. Will It Matter?

Last night, the House Republican leadership proposed new rules that would require the Joint Committee on Taxation and the Congressional Budget Office to incorporate macroeconomic effects of “major” legislation into their official budget estimates. But there may be less to these new rules for so-

December 24, 2014Howard Gleckman

: TaxVox

Tax Policy, Tax Outcomes: That’s Entertainment!

Congress is in recess through the mid-term elections. Read the Daily Deduction each Monday until then. “ California, here I come !” It’s official: Democratic Governor Jerry Brown signed into law a $330 million annual incentive program for film and television production. Feature films with budgets

September 22, 2014Renu Zaretsky

: TaxVox

Rules, Reform, Taxes and Wealth: No Harm in Trying?

Maybe the duck will walk again? Lawmakers are putting down their markers on anti-inversion legislation. Top Senate Democrats Dick Durbin and Chuck Schumer have introduced a bill to curb “earnings-stripping” by multinational corporations—a practice where firms maximize U.S. tax deductions for

September 11, 2014Renu Zaretsky

Individual Taxes: TaxVox

Don’t Count on Much Economic Growth From Individual Tax Reform…Or From Tax Rate Cuts

Can individual income tax reform that cuts rates and eliminates subsidies increase economic growth? How about tax cuts by themselves? The answer is: Maybe, but not by much, according to a new paper by the Tax Policy Center’s Bill Gale and Andrew Samwick, director of The Nelson A. Rockefeller Center

September 10, 2014Howard Gleckman

: TaxVox

Inversions, Loopholes, Taxes and TIFs: What’s a Revenue Service to Do?

Inversions: The waiting is the hardest part. At yesterday’s TPC event Treasury Secretary Jack Lew promised an anti-inversion decision “soon,” but committed to no other details . While everybody agrees corporate inversions are done largely to avoid taxes, does Treasury have the authority to prevent

September 9, 2014Renu Zaretsky

: TaxVox

Business Tax Reform: Will Patience Be a Vice?

Treasury speaks on business tax reform at TPC. Tune in this morning. Treasury Secretary Jack Lew will address business tax reform and will be followed by a panel discussion on corporate inversions, a US tax avoidance strategy. The panel includes Sally Katzen of the NYU School of Law, TPC’s Steven

September 8, 2014Renu Zaretsky

: TaxVox

On Credits, Boycotts, and the Economy

Congress is in recess until Monday, September 8. The Daily Deduction will resume its regular schedule when Congress returns. “ There will be credits .” Alaskans like the way oil industry profits are taxed --barely. The state grants a corporate income tax credit for qualified oil and gas service-

September 2, 2014Renu Zaretsky