Tax Policy Center

Congress

Federal Budget and Economy: TaxVox
The House vote to require the Congressional Budget Office and the congressional Joint Committee on Taxation to include macroeconomic effects in some official budget scores is enormously controversial in the policy world and among economists. To help unpack this complex issue, Tax Vox has asked
February 19, 2015Howard Gleckman
Campaigns, Proposals, and Reforms: TaxVox
It is hard not to notice that while policymakers are talking tax reform they are walking tax deform. The more they vow to lower tax rates and eliminate targeted tax preferences (close loopholes in Congress-speak), the more bills they push to create new subsidies or juice up old ones. Yesterday, the
February 12, 2015Howard Gleckman
Federal Budget and Economy: TaxVox
The House has instructed the Joint Committee on Taxation and the Congressional Budget Office to factor in the macroeconomic effects of tax law changes when calculating the official budget score of revenue bills. But are existing models up to the task of what’s commonly called dynamic scoring? A
January 26, 2015Howard Gleckman
Individual Taxes: TaxVox
The Senate Finance Committee has created five bipartisan working groups to develop ideas for comprehensive tax reform by the end of May. It is a good idea. But it is unlikely to accelerate the panel’s timetable for producing legislation. The task forces won't develop many new ideas. Let’s be honest
January 15, 2015Howard Gleckman
Federal Budget and Economy: TaxVox
So much has changed. Yet, when it comes to taxes, so much has not. Republicans have taken control of Congress and now hold governorships in 31 states. The U.S. economy is finally on solid ground. And presidential hopefuls are gearing up for the 2016 election. But for all that, the top tax stories
January 6, 2015Howard Gleckman
Federal Budget and Economy: TaxVox
The massive 2015 spending bill that President Obama is likely to sign this week continues an ongoing effort to trash the Internal Revenue Service. It is a cynical recipe for a self-fulfilling disaster: Give the agency more and more work. Cut its budget. Blame it for failing to do its job. Repeat.
December 16, 2014Howard Gleckman
Federal Budget and Economy: TaxVox
Rep. Sandy Levin (D-MI), the senior Democrat on the House Ways & Means Committee, stood up on the House floor yesterday and urged Congress to refuse to make permanent three special tax breaks for charitable giving unless their $11 billion cost was paid for. Why were his remarks notable? Because
December 11, 2014Howard Gleckman
Federal Budget and Economy: TaxVox
Can somebody explain to me why the House agreed last week to restore 50+ tax subsidies without paying for them (and thus adding $42 billion to the deficit) and 10 minutes later approved a new tax subsidy that it insisted on paying for? It can’t be the merits of the recipients. By now, TaxVox
December 9, 2014Howard Gleckman
Individual Taxes: TaxVox
For the first time since 2010, Congress may be about to acknowledge that people with disabilities cannot have a decent quality of life with limited financial resources and modest government support. It is on the verge of approving the Achieving a Better Life Experience (ABLE) Act , which would
December 4, 2014Howard Gleckman
Individual Taxes: TaxVox
There are two simple ways to end the tiresome seasonal drama over faux-temporary tax cuts known (with a stunning lack of accuracy) as the extenders. First, call them what they are : Expired tax breaks that have been off the books for nearly a year. Second, make Congress pay for any of the special
December 2, 2014Howard Gleckman