This paper examines how the Tax Cuts and Jobs Act (TCJA) will affect the US energy sector. It combines qualitative analysis of a range of TCJA provisions with estimates from the Tax Policy Center’s Investment and Capital Model of how a narrower set of provisions will change marginal effective...
Because of the small share of the population currently eligible for itemized tax deductions for charitable giving, many charities have argued that a more universal charitable deduction or tax credit should exist. A more universal subsidy could (but would not necessarily) increase significantly...
This report describes the Tax Policy Center (TPC) Microsimulation Model’s revamped home mortgage interest deduction (MID) module. The TPC tax model uses the module for simulating proposals that reform the MID. The new MID module improves upon the prior one in accounting for potential changes in...
Federal tax law provides several tax benefits for homeowners. This chartbook focuses on the home mortgage interest deduction. We provide updated estimates of the distributional effects of the home mortgage interest deduction, show how those estimates could change if people pay down their home...
In this brief, we estimate the revenue and distributional effects of former vice president Joe Biden’s 2020 campaign tax proposals, based on information released by the Biden campaign and conversations with campaign staff. We analyze Biden’s proposals as of February 23, 2020...
Until now TPC’s basic distributional analysis did not separately examine charitable contributions. As part of this research project, we have created a new module that extends the capacity of our microsimulation model to simulate the effect of proposed policy changes on charitable contributions....
This chartbook explores the implications of current-law income tax incentives for charitable donations along with several alternatives for tax deductions that are more universally available.
Reforming the mortgage interest deduction (MID) could raise federal tax revenue and make the tax system more progressive. But some taxpayers, especially those with high...
A new paper and brief explore how estate and inheritance taxes (or wealth transfer taxes) affect entrepreneurs and would-be entrepreneurs. It is a contentious issue...
The Senate’s last-minute decision to preserve the corporate alternative minimum tax (AMT) has drawn strong opposition from business and its advocates. Its fate now lies...
Both Hillary Clinton and Donald Trump have proposed tax changes that would result in less charitable giving. While the effects are indirect, the Tax Policy...
