Tax Policy Center

sales tax

: TaxVox
The drive to a Highway Funding bill heads toward a cliff: The sequel. Congressional Democrats are digging in their heels and insisting that Republicans find a long-term solution to highway funding. That would force the GOP to come up with either tens of billions for a long-term bill or
June 5, 2015Renu Zaretsky
: Daily Deduction
Spenders gonna’ spend, tax-cutters gonna’ cut… The House Budget Committee passed its $3.8 trillion budget, but only after giving in to GOP defense hawks : They got $20.5 billion in defense spending without offsets. Meanwhile, TPC’s Howard Gleckman tries to square the House GOP’s tax cuts with its
March 20, 2015Renu Zaretsky
: TaxVox
Chicago Mayor Rahm Emanuel: Without school pension money from the state, property taxes will jump. Facing a tough runoff in his race for reelection, Emanuel is looking for fiscal help from the state, including from its GOP governor. He wants the state to help fund pensions for Chicago’s teachers as
March 16, 2015Renu Zaretsky
: TaxVox
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
Governor LePage wants big tax cuts for Maine. Republican Paul LePage’s new budget proposal would cut the top income tax rate by 2.2 percentage points to 5.75 percent, and apply it to single tax filers with incomes over $50,000, instead of the current threshold of $21,200. The plan would cut
January 12, 2015Renu Zaretsky
: TaxVox
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
State and Local Issues: TaxVox
Politicians love sales tax holidays as good campaign fodder. Retailers celebrate them with gaudy signs announcing tax-free shopping, and consumers line up to take advantage of the deals. But economists and policy analysts across the ideological spectrum condemn them as poorly targeted tax policy
August 18, 2014Richard C. Auxier
: TaxVox
Gambling with the Highway Trust Fund: The House always wins? As expected , the House rejected the Senate’s four-and-a-half month $8 billion highway funding patch passed earlier this week. The House returned its own 10-month $10.8 billion patch—the one that includes pension smoothing — back to the
August 1, 2014Renu Zaretsky
: 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
State and Local Issues: TaxVox
This week, the District of Columbia City Council approved a major tax reform bill. And, as it happens, some important—but unspoken-- issues of race and class are underlying key changes to the revenue code. Earlier this year, the DC Tax Revision Commission proposed a broad rewrite of the city’s tax
June 26, 2014Howard Gleckman