Michigan

: TaxVox

Tax Relief for the Few, Tax Increases for All… or None

Everything is bigger in Texas, except tax relief for its low-income residents. Tax cuts are a sure bet in the Lone Star state this year, but it’s hard to provide tax relief to everybody without a state income tax. TPC’s Richard Auxier explains that Texas’ reliance on sales and property taxes makes

May 7, 2015Renu Zaretsky

: TaxVox

A Little March Madness on the Hill

The “doc fix” passes the House. The House overwhelmingly approved the Medicare “ doc fix ” to replace automatic payment cuts (that Congress has delayed every year since 2003) with a temporary 0.5 percent annual hike in physician reimbursements. But the bipartisan deal, which CBO figures would add $

March 27, 2015Renu Zaretsky

: TaxVox

Tax Subsidies, Cuts, and Consequences

There are tax information troubles for ACA enrollees. When it comes to the Affordable Care Act and filing taxes, “sorting through all the necessary paperwork is hard to do, even for those of us whose day jobs are in tax policy,” writes TPC’s Ellen Steele , a tax-preparing volunteer with Community

February 23, 2015Renu Zaretsky

: TaxVox

No Hitting the Brakes for Tax Breaks…

Some House GOPers want to help millionaires save for college. Yesterday the House Ways and Means Committee approved a bill to expand the Sec. 529 college savings plan and rejected a Democratic amendment to limit the plans for people earning more than $3 million a year. Bloomberg reports that the

February 13, 2015Renu Zaretsky

: TaxVox

A Replacement, A Vision, and Promises

An Obamacare replacement? Senate Finance Committee chair Orrin Hatch, House Energy and Commerce chair Fred Upton, and GOP Senator Richard Burr have released their health reform plan, called the Patient CARE Act. The proposal, similar to a bill Hatch and Burr introduced last year, would repeal the

February 6, 2015Renu Zaretsky

: TaxVox

Congress May Just “Let It Go” … Until Next Year

Congress might really be home for the holidays. Finance Committee Chairman Ron Wyden told reporters today that the Senate won’t amend the House-approved bill to revive over 50 expired tax breaks for 2014 only. An up-or-down Senate vote could be held within days. Lawmakers must still sort out what

December 5, 2014Renu Zaretsky

: Daily Deduction

Clicks, Pumps, Dreams and Time… How Many May See Their Taxes Rise?

Cyber Monday will live to hear another click. Speaker of the House John Boehner has at least temporarily killed the Marketplace Fairness Act. The bill, which would allow states to require out-of-state websites to collect Internet sales tax, passed the Senate last year with bipartisan support . Tax

November 12, 2014Renu Zaretsky

: TaxVox

Income Inequality and Time for State Action

Income inequality may shrink state tax revenues. A new report from Standard & Poor’s tells the tale. Incomes have grown rapidly among the wealthy, but have barely kept pace with inflation for many others. But high income earners both shelter their income from taxes and save more, reducing state

September 16, 2014Renu Zaretsky

Business Taxes: TaxVox

How Michigan Blocked a $1 Billion Tax Windfall for Corporations

For all the talk of political gridlock, it is amazing how quickly a state legislature can act when $1 billion in unexpected corporate tax refunds are at stake. The lawmakers are in Michigan. And their pistons were fired up following an unfavorable state Supreme Court decision in a lawsuit brought

September 15, 2014Norton Francis

: TaxVox

Inversions, Loopholes, Taxes and TIFs: What’s a Revenue Service to Do?

Inversions: The waiting is the hardest part. At yesterday’s TPC event Treasury Secretary Jack Lew promised an anti-inversion decision “soon,” but committed to no other details . While everybody agrees corporate inversions are done largely to avoid taxes, does Treasury have the authority to prevent

September 9, 2014Renu Zaretsky