Tax Policy Center

Tax Policy Center

Business Taxes: TaxVox
In a speech today at the Tax Policy Center, Treasury Secretary Jack Lew said the agency will decide “in the very very near future” how it will respond to the recent wave of tax-motivated corporate inversions. Lew strongly urged Congress to curb the practice on its own, but suggested Treasury might
September 8, 2014Howard Gleckman
Business Taxes: TaxVox
In case you missed it, The New York Times’ political and policy blog The Upshot published a fascinating debate throughout August on the question: Should the corporate income tax be abolished? It’s a query that may be raised on Monday morning, when Treasury Secretary Jack Lew speaks at the Tax
September 4, 2014Howard Gleckman
Individual Taxes: TaxVox
Corporate inversions have been the topic of the summer for tax wonks (beats jellyfish and beach traffic, I suppose), but the issue is a classic bit of Washington misdirection. Instead of focusing on the real disease—an increasingly dysfunctional corporate income tax—we are obsessing over a symptom—
August 26, 2014Howard Gleckman
Individual Taxes: TaxVox
Reducing tax rates is a guiding principal of most tax reform plans. Even Democrats who see reform partly as a tool to boost revenues agree that some money generated by eliminating tax preferences ought to go to rate reduction. But how much does Treasury lose when Congress reduces individual tax
August 21, 2014Howard Gleckman
Campaigns, Proposals, and Reforms: TaxVox
In an extensive new analysis of House Ways & Means Committee Chair Dave Camp’s tax reform plan, my Tax Policy Center colleagues confirm his proposal would raise about the same amount of money over 10 years as current law and impose roughly the same tax burden across income groups as today's
July 8, 2014Howard Gleckman
Individual Taxes: TaxVox
How can a company headquartered in Minneapolis merge with a competitor run out of Mansfield, Massachusetts in order to pay taxes in Ireland? It’s just another day in corporate inversion-land, where an opportunity to cut taxes is once again driving key business decisions. This time, the buyer is
June 17, 2014Howard Gleckman
Individual Taxes: TaxVox
In their zeal to provide a legal alternative to banned marriage for same-sex couples, some states may have created a new tax shelter for heterosexual couples. By choosing domestic partnership or civil union over marriage, opposite-sex couples are able to avoid paying a federal income tax marriage
June 5, 2014Howard Gleckman
Individual Taxes: TaxVox
EPA’s proposed tough new standards for power-plant emissions of greenhouse gasses opens the door to new state or regional cap-and-trade systems to limit carbon discharges. It is less clear whether it would go the next step and permit states to impose their own carbon tax. The proposed EPA rules,
June 2, 2014Howard Gleckman
Individual Taxes: TaxVox
A carbon tax has great appeal. It could reduce the risk of climate change by building emissions costs into market prices, thus discouraging the use of carbon-based fuels. And it would make a lot of revenue available for a broad range of purposes including reducing other taxes, new spending, or
May 27, 2014Howard Gleckman
Individual Taxes: TaxVox
Following the recent offer by U.S drugmaker Pfizer to acquire British pharmaceutical firm AstraZeneca, congressional Democrats are proposing new limits on the ability of U.S.-based firms to establish foreign residence as a way to cut their U.S. corporate tax bill. Even before this latest flap, the
May 20, 2014Howard Gleckman