Tax Policy Center

tax extenders

: TaxVox

ACA Tax Provisions Still Under Fire

Together again: The US Supreme Court, the IRS, and the Affordable Care Act. Two years ago, the Court ruled that the ACA health care mandate is a constitutional tax. Now, it has decided to consider whether the IRS has overstepped its authority by providing premium tax credits to enrollees in
November 10, 2014Renu Zaretsky
: TaxVox

Mid-Term Monday: The Calm Before The Storm?

Congress returns next week. We’ll resume our regular schedule on Wednesday, November 5, after tomorrow's elections. State ballot initiatives offer clues on how much voters are willing to pay for government services. There are 16 tax-related initiatives on state ballots tomorrow. TPC’s Kim Rueben
November 3, 2014Renu Zaretsky
: TaxVox

Will Tax Reform See Light at the End of the Next Tunnel?

Jack Lew on corporate inversions: “Action is going to be taken.” Treasury Secretary Jack Lew says that ”any company considering an inversion is now on notice that there is action that is going to be taken.” Administrative curbs would limit the economic benefits of inversions but only congressional
September 19, 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
: Daily Deduction

Taxes Take Center Stage This Week—At Least on the House Floor

Shutting down talk of a shutdown… The House is expected to vote on a continuing resolution to fund the government—including the IRS—through December 11. The resolution would include an extension of the Internet Tax Freedom Act, which bars states from taxing Internet access. Unless Congress acts,
September 15, 2014Renu Zaretsky
: TaxVox

Tax Action: The Quick, the Clever, and the Familiar

Treasury calls for quick Congressional action, because Congress is known to be… quick. Secretary Jack Lew asked top congressional tax writers to act now to end corporate inversions, and make such legislation retroactive to May of this year, giving Congress time to reform the corporate tax system .
July 17, 2014Renu Zaretsky
Individual Taxes: TaxVox

Nothing New Under the Sun: The Sad History of the Tax Extenders.

Nice piece by Tax Notes reporter Lindsey McPherson describing the recent history of the tax extenders. Four take-aways: There is always last-minute drama over bringing them back, most are repeatedly extended, they are almost never paid for, and they are frequently rolled into a bigger bill. In 2004
July 16, 2014Howard Gleckman
Individual Taxes: TaxVox

The Corker-Murphy Gas Tax Hike: A Good Idea Spoiled

Senators Bob Corker (R-TN) and Chris Murphy (D-CT) deserve enormous credit for having the courage to do what few of their colleagues would: Propose to pay for transportation projects by raising the gas tax. It’s too bad they’d ruin such a sensible, straight-forward idea with a ridiculous budget
June 19, 2014Howard Gleckman
: TaxVox

Penalties, Subsidies, and Tax Exemption “Gooooooals”

As expected, the House passed more tax extenders. The House voted to make permanent $75.2 billion worth of tax breaks yesterday—small business expensing of up to $500,000 in qualifying equipment per year, and rules regarding basis adjustments to the stock of S corporations making charitable
June 13, 2014Renu Zaretsky
: TaxVox

Tax Extenders, Administration and Reform Are On Deck; State Revenues Are Up

This week: The House will vote on tax extenders. In his June policy memo to House Republicans, Majority Leader Eric Cantor notes that there will be votes on three tax extender bills this week. The bills would make permanent (1) small business expensing of up to $500,000 in qualifying equipment per
June 9, 2014Renu Zaretsky