Tax Policy Center

taxmageddon

Federal Budget and Economy: TaxVox
This afternoon, I moderated an Urban Institute panel on taxes and the fiscal cliff. The fundamental question on the table: Will Congress have to tumble over the precipice in order to build the political consensus it needs to do a budget deal? To put it another way, will it take the fear of a
October 2, 2012Howard Gleckman
Federal Budget and Economy: TaxVox
If Congressional gridlock sends the U.S. government tumbling over the fiscal cliff later this year, Americans could face an average tax hike of almost $3,500 in 2013. Nearly 9 of every 10 households would pay higher taxes. Every income group would see their taxes rise by at least 3.5 percent, but
October 1, 2012Howard Gleckman
Federal Budget and Economy: TaxVox
By now, you know the great taxmageddon story: At the end of the year, a lame duck Congress and a new or newly re-elected president will face the confluence of three extraordinary challenges—the 2001/2003/2010 tax cuts expire , the automatic spending cuts adopted in 2010 begin to bite, and the
May 24, 2012Howard Gleckman