The federal government invests more than $500 billion annually in children through direct cash payments, including tax credits, and in-kind goods such as childcare, education, food subsidies, and healthcare coverage. This represents about 10 percent of the federal budget. Research shows these...
Benefits from the earned income tax credit (EITC) and child tax credit (CTC) play an important role in the financial lives of low- and moderate-income families. Determining how much credit a family qualifies for can be complicated, depending primarily on the number of eligible children, income,...
Medicare faces serious short-term and long-term financial pressures. This report examines the revenue and distributional effects of options to increase revenues for Medicare and discusses their relative pros and cons. We use the Tax Policy Center microsimulation model to estimate the effect of...
With Congress unable to secure an agreement on border security, Ukraine aid, and other issues, the federal government is headed toward a shutdown starting the...
Detroit Mayor Mike Duggan (D) recently proposed raising the city’s tax on vacant or undeveloped land while reducing taxes on buildings by 30 percent. The...
About one year ago, the US Supreme Court struck down the constitutional right to abortion in Dobbs v. Jackson Women’s Health Organization . Since then,...
The Biden administration’s plan for broad-based student loan forgiveness of up to $20,000 per individual won’t affect borrowers’ federal tax bills, but it could have...
As President Biden and congressional Democrats make another push to reach a compromise on a social spending, climate change, and tax bill, a key issue...