Tax Policy Center

deficit super committee

Individual Taxes: TaxVox
Welcome to Tax Vox’s fifth annual Lump of Coal Award recognizing 2011’s ten worst moments in fiscal policy. It is hard to imagine so much ugliness crammed into a mere 12 months. But after much thought and debate, the winners are: 10. The rating agency Standard & Poor’s for downgrading U.S. debt
December 22, 2011Howard Gleckman
Federal Budget and Economy: TaxVox
As long as politicians keep squabbling about what to do about the Bush era tax cuts, we are doomed. There will be no serious deficit reduction. There will be no tax reform. There will be nothing but the same old partisan arguments. Don’t believe me? Just listen to the chatter coming out of the
November 22, 2011Howard Gleckman
Federal Budget and Economy: TaxVox
To the surprise of few , Congress’ super committee is on the brink of failure--unable to agree on $1.2 trillion in budget savings as required by last summer's debt limit deal. But the panel was doomed from the start. Here are five reasons why: The parties could not bridge their theological
November 21, 2011Howard Gleckman
Federal Budget and Economy: TaxVox
In the back-and-forth over deficit reduction on Capitol Hill, Republicans have floated the idea of cutting individual tax rates by 20 percent across the board. There is much more to their plan: Crucially, they’d also trim tax subsidies. However, they don’t say how, so my colleagues at the Tax
November 15, 2011Howard Gleckman
Federal Budget and Economy: TaxVox
The other day, I spent a few hours with some of Washington’s most experienced budget experts. The session was off-the-record, so I can’t tell you who they were but I can tell you what they said. In short, don’t count on much real deficit reduction any time soon, despite this summer’s debt limit
August 30, 2011Howard Gleckman