Tax Policy Center

EITC

: TaxVox

Extender Drama: Some Movies Just Aren’t Worth Seeing

Coming soon to a theater near you: The House embraces a one-year “tax extender” package. It would restore retroactively for 2014 tax breaks affecting all manner of taxpayers—from research-heavy corporations, multinationals, teachers, commuters, and green energy producers, to NASCAR race tracks
December 3, 2014Renu Zaretsky
Individual Taxes: TaxVox

Tax Deals: Will Everything Old Be New Again?

Dave Camp on tax reform: “It can be done.” Retiring House Ways & Means Chair Dave Camp remains optimistic . The Hill reports that a deal to extend expiring tax breaks could give Camp’s successor, Paul Ryan, a chance to secure broad GOP support for a tax reform plan. About that tax extender deal
December 1, 2014Renu Zaretsky
: TaxVox

“Dead Reform Walking:” On Fairness, Immigration, and Spending

A Senator says “ no way ” to a bill that won ’ t see December ’ s light of day. As far as the lame-duck Congress is concerned, the Marketplace Fairness Act is dead: House Speaker John Boehner assured as much last week . Senator Ted Cruz has added his two cents (tax-free) insisting it is the “height
November 19, 2014Renu Zaretsky
: TaxVox

A Billionaire Saves, Two Words Disappear, and Three Provisions Protect

There’s more than one way to skin a cat (and reduce taxes). Warren Buffett, chairman of Berkshire Hathaway, has made a swap for Procter & Gamble’s interest in Duracell. The “cash-rich split-off” means that Berkshire Hathaway bought Duracell in exchange for its appreciated P&G stock, worth $
November 14, 2014Renu Zaretsky
Campaigns, Proposals, and Reforms: TaxVox

What Ronald Reagan Didn’t Say About the EITC

I like the Earned Income Tax Credit (EITC). It encourages work and allows millions of low-wage workers and their kids to escape a life of poverty . Democrats support it as a critical part of the safety net. Republicans back it because it rewards work and family. Just last week, House Budget
July 30, 2014Leonard E. Burman
Federal Budget and Economy: TaxVox

President Obama’s FY 2015 Budget

When President Obama proposed his 2015 budget last March, he vowed to cut taxes for working class Americans while making sure high income households pay their "fair share." New Tax Policy Center estimates show that, like it or not, Obama would do pretty much as he promised. Low-income households
July 2, 2014Roberton C. Williams
Campaigns, Proposals, and Reforms: TaxVox

The Many Moving Parts of Camp’s Tax Reform for Low-Income Families

House Ways & Means Committee Chair Dave Camp’s tax reform plan would make many changes to the two major refundable tax credits aimed at assisting...
March 11, 2014Elaine Maag
Individual Taxes: TaxVox

Incoming Senate Finance Chair Wyden Outlines His Tax Agenda

Senator Ron Wyden (D-OR), about to become the new chairman of the Senate Finance Committee, said Friday that he aims to eventually rewrite what he...
February 10, 2014Howard Gleckman
Campaigns, Proposals, and Reforms: TaxVox

Questions About Expanding the Childless EITC

As the idea of expanding the “childless EITC” gathers steam, it’s time to start thinking about what the next generation of worker credits should look...
February 5, 2014Elaine Maag
State and Local Issues: TaxVox

Variation in EITC Take-up, County by County

The Earned Income Tax Credit (EITC) is one of our nation’s most effective anti-poverty policies, bringing 10.1 million families out of poverty in 2012 ...
January 31, 2014Benjamin H. Harris