Tax Policy Center


Campaigns, Proposals, and Reforms: TaxVox
Yesterday, top Senate Finance Committee Democrat Ron Wyden proposed major changes in the taxation of financial derivatives, contracts such as swaps, options, and forwards that derive their value from an underlying asset or index. The key to his proposal is a requirement that dealers annually mark-
May 19, 2016Steven M. Rosenthal
: TaxVox
Two appeals courts deliver opposing rulings on Affordable Care Act tax subsidies. The DC Circuit Court ruled yesterday that the tax credits can only go to residents in states that run their own health exchanges. In Richmond, VA, the 4th Circuit Court said the ACA language isn’t clear, so the tax
July 23, 2014Renu Zaretsky
Individual Taxes: TaxVox
Today, I testified before the U.S. Senate Permanent Subcommittee on Investigations (the “Subcommittee”) on the abuse of structured financial products by hedge funds, in particular by the Renaissance funds. This is what I told the Subcommittee: Almost a century ago, Congress reduced the tax rate for
July 22, 2014Steven M. Rosenthal
: TaxVox
Another big inversion deal heads to closing. Pharmaceutical giant AbbVie agreed to purchase UK drugmaker Shire , making it the largest US company so far to move its address overseas for lower taxes. The deal, now estimated to be worth about $55 billion, will likely close despite any US action to
July 21, 2014Renu Zaretsky
: TaxVox
A highway bill could soon head down Pennsylvania Avenue. The House Rules Committee plans to send to the floor the Ways & Means panel’s short-term highway funding bill today. After a floor vote sometime this week, it’s seen as the likely version to land on the President’s desk. In the Senate,
July 14, 2014Renu Zaretsky
Federal Budget and Economy: TaxVox
Senate Democrats are circulating a list of a dozen tax “loopholes” they’d like to close as part of a budget package. It is unlikely that Republicans will agree to any of them except as part of broad tax reform, but it is worth taking a quick look at a few on their merits. Some represent good tax
November 13, 2013Howard Gleckman
Individual Taxes: TaxVox
Last week’s draft plan by House Ways & Means Committee Chair Dave Camp (R-MI) to reform the taxation of financial products includes two key changes that would simplify rules, reduce manipulation, minimize compliance burdens, and improve tax administration. The first would require investors to
January 28, 2013Steven M. Rosenthal