Tax Policy Center

jobs bill

Federal Budget and Economy: TaxVox
House Republicans are right about one thing at least: Extending this year’s payroll tax cut for two months is ridiculous. The trouble is they are largely to blame for the very policy they are criticizing. Congress got itself in this mess because a few dozen self-styled tea partiers have refused
December 20, 2011Howard Gleckman
Individual Taxes: TaxVox
Should Congress extend and expand the payroll tax cut it first passed a year ago? In a bizarre but not unexpected role reversal, Democrats insist that at a time of economic uncertainty, Congress must not only extend this tax cut but make it even more generous. And Republicans seem to have somehow
November 29, 2011Howard Gleckman
Campaigns, Proposals, and Reforms: TaxVox
Senate Democratic Leader Harry Reid’s plan to fund a $445 billion stimulus, err, jobs bill with a 5.6 percent surtax on millionaires is not all bad. After all, Tax the Rich does make a nice campaign bumper-sticker. But it is mostly bad. Why? Here are five reasons. The idea, endorsed today by
October 6, 2011Howard Gleckman
Federal Budget and Economy: TaxVox
It turns out that President Obama’s plan to limit the benefit of itemized deductions is much more than that. Not only would it reduce tax savings for mortgages, charitable gifts, high medical costs, and the like, it would also curb tax breaks for owners of municipal bonds, workers who buy health
September 13, 2011Howard Gleckman
Federal Budget and Economy: TaxVox
When you get right down to it, the jobs plan President Obama proposed before a joint session of Congress last night was built on three elements: A large payroll tax cut, lots of new spending on public infrastructure, and a promise that its $447 billion cost would be paid for with yet-to-be
September 9, 2011Howard Gleckman