Tax Policy Center

corporate tax

: TaxVox
Alabama’s GOP Governor wants higher taxes on car and cigarette sales. Robert Bentley released details on how he’d close the state’s $700 million budget shortfall. And $587 million would come from new revenues. He’d raise an estimated $200 million by doubling the state sales tax on automobiles from
March 2, 2015Renu Zaretsky
: TaxVox
Tax Expirers: On to the Senate. On a roughly party-line vote, the House restored 55 expired tax provisions and extended them for… three weeks. Now the Senate gets to decide whether to go along or to amend the bill, most likely by extending the measures through 2015. And the world turns… Shouldn’t
December 4, 2014Renu Zaretsky
: TaxVox
Will the EPA’s proposal to curb greenhouse gas emissions allow state-based carbon taxes? The new regulations would give states broad flexibility to require power plants to meet tough emissions standards, including creating new cap-and-trade systems. But the 645-page proposal never uses the word “
June 3, 2014Renu Zaretsky
Individual Taxes: TaxVox
Covering the revenue loss from deep individual income tax rate cuts while maintaining the income tax’s current progressivity is difficult, as Howard Gleckman explained here last week. It turns out that paying for corporate tax rate cuts is even harder. And new Tax Policy Center estimates show that
August 13, 2013Roberton C. Williams
Individual Taxes: TaxVox
A new analysis by the Government Accountability Office finds that in 2010 large U.S. corporations paid an average effective tax rate on their worldwide income of 22.7 percent and U.S. federal tax of only about 16.6 percent. The federal rate was less than half of the 35 percent statutory rate. Large
July 2, 2013Howard Gleckman
Campaigns, Proposals, and Reforms: TaxVox
Finland’s government recently announced a broad fiscal reform package that cuts corporate tax rates—financed in part by higher taxes on corporate dividends. The plan makes sense for Finland and is worth considering here at home. Finland will lower the corporate rate to 20 percent in 2014, down from
April 1, 2013Benjamin H. Harris
Individual Taxes: TaxVox
Suppose someone proposed a special tax on businesses that make their ownership shares publicly available in affordable, easy-to-sell units. Such an idea would probably generate a lot of push-back. Efficiency advocates might complain that it taxed the very attributes that make equity markets
December 29, 2012Chris Sanchirico
Campaigns, Proposals, and Reforms: TaxVox
Despite evidence to the contrary, there is a lingering view that Mitt Romney’s tax plan would primarily help middle-income households and not favor the rich. Yet TPC’s analysis of the plan clearly showed that high-income households would win big and others would do less well. Poor families would
January 30, 2012Roberton C. Williams
Federal Budget and Economy: TaxVox
While there seems to be growing agreement in Washington that the U.S. needs to cut its tax rate on corporations, there is (surprise) no consensus at all on how to pay for this. One way: Raise taxes on capital gains and dividends. This idea was one element of the broad tax reforms proposed last year
March 29, 2011Howard Gleckman
Individual Taxes: TaxVox
In his speech yesterday to the U.S. Chamber of Commerce, President Obama doubtless pleased many in his audience by repeating the business community’s favorite mantra about U.S. taxes: “Another barrier government can remove,“ he said, “is a burdensome corporate tax code with one of the highest rates
February 8, 2011Howard Gleckman