Congress

Dynamic Scoring Forum: The Dangers of Dynamic Scoring

This is one of a series of TaxVox guest blogs discussing dynamic scoring . One of the strengths of the US budgeting system is that proposals are held accountable through a relatively open process of scoring the costs and benefits. This process, as run by the Congressional Budget Office and others,

March 6, 2015Simon Johnson

Individual Taxes: TaxVox

Dynamic Scoring Forum: Now We Really Need More Information

This is one of a series of guest TaxVox blog posts discussing dynamic scoring House Ways & Means Committee Chairman Paul Ryan has claimed that the House dynamic scoring rule would generate more information. But the new rule asks for an official cost estimate that reflects only a single estimate

February 25, 2015Chye-Ching Huang

Federal Budget and Economy: TaxVox

Tax Vox Will Host an Online Policy Forum on Dynamic Scoring

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

Lawmakers Talk Tax Reform But Keep Pushing New Tax Subsidies

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

Is Dynamic Scoring of Tax Bills Ready For Prime Time?

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

What To Make of the Senate Finance Committee’s Tax Reform Workgroups

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

Nine Tax Stories to Watch in 2015

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 War on the IRS

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

Kudos to Sandy Levin For Speaking Out For Fiscal Responsibility

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

Why Does Congress Pay For Some Tax Cuts and Not Others?

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