Tax Policy Center


Individual Taxes: TaxVox
Last December, President Obama signed into law the Achieving a Better Life Experience (ABLE) Act . ABLE looks a lot like a state-run 529 college savings plan, but for individuals diagnosed with disabilities before age 26. Family and friends can contribute up to $14,000 annually in after-tax income
December 2, 2015Renu Zaretsky
: TaxVox
Be careful what you wish for. Businesses have backed an overhaul of the US tax code for quite some time, but their tune changes when it comes to corporate tax reform in other countries. The Base Erosion and Profit Shifting project, or BEPS, is an effort by the Organization for Economic Cooperation
May 14, 2015Renu Zaretsky
Individual Taxes: TaxVox
The latest flap over the implementation of the Affordable Care Act involves the ability of the IRS to verify the income people use to calculate their health exchange subsidy. While critics of Obamacare warn darkly that this will cause massive cheating, it appears that there is much less to the
July 16, 2013Howard Gleckman
Federal Budget and Economy: TaxVox
With 10 days to go until the dreaded sequester—the automatic across-the-board spending cuts that most lawmakers profess to hate—the Washington drama machine is starting to get in gear. Today, President Obama stood in front a group of uniformed first responders and warned darkly of layoffs if the
February 19, 2013Howard Gleckman
Federal Budget and Economy: TaxVox
You can tell when Congress and the President have tough choices to make. That’s when they trot out the euphemisms—all aimed at making what they are about to do sound as benign as possible. Case in point: the impending fiscal cliff. If you listened to President Obama and House Speaker John Boehner’s
November 13, 2012Howard Gleckman
Individual Taxes: TaxVox
We’ve all seen the articles in Forbes, Kiplingers , or U.S. News trumpeting the best states to live in retirement. A key measure for them all: Low taxes. What you may not know is that states actively compete with one another to provide tax breaks to older residents—especially to wealthy seniors.
February 9, 2012Howard Gleckman
Federal Budget and Economy: TaxVox
The bipartisan deficit reduction plan proposed by the so-called “Gang of Six” senators includes very few specifics. Oddly, one would repeal the Community Living Assistance Services and Supports (CLASS) Act. CLASS , a national, voluntary long-term care insurance program, was included as part of the
July 21, 2011Howard Gleckman
Federal Budget and Economy: TaxVox
Imagine for a moment you walk into a dealership to buy the vehicle of your dreams. The salesman asks what you want to pay. You say $50. He counters with $50,000. The good news is you have begun a negotiation. The bad news is, you’ve got a lot of talking to do before you can drive that honey off the
April 13, 2011Howard Gleckman
Federal Budget and Economy: TaxVox
If you view a budget as a vision of government, the House GOP’s fiscal map unveiled today charts a profound course correction for Washington and its relationships with both its citizens and the states. In this new world, individuals and families would receive only limited assistance from government
April 5, 2011Howard Gleckman
Federal Budget and Economy: TaxVox
The Community Living Services and Supports (CLASS) Act is an extraordinary case study in both budget and health care politics, and in the toxic political environment in which those of us in Washington live. And it puts a critical question into stark focus: Exactly how do we, as a society, want to
March 24, 2011Howard Gleckman