Research report

Increased demand for better use of evidence in policymaking has sparked bipartisan support for better evaluation of federal spending programs. Tax expenditures, spending-like subsidies embedded in the tax code, cost taxpayers roughly as much as domestic discretionary programs, yet receive little...

July 10, 2018
Benjamin H. Harris, C. Eugene Steuerle, Caleb Quakenbush
Research report

This paper examines the Tax Cuts and Jobs Act (TCJA) of 2017, the largest tax overhaul since 1986. The new tax law makes substantial changes to the rates and bases of both the individual and corporate income taxes, cutting the corporate income tax rate to 21 percent, redesigning international...

June 13, 2018
William G. Gale, Hilary Gelfond, Aaron Krupkin, Mark J. Mazur, Eric Toder
Research report

These tables show the expected present value at age 65 of benefits received in retirement and taxes paid over a career for households with different wage and marriage histories. The underlying data come from the Social Security Administration and Centers for Medicare and Medicaid Services (CMS...

June 5, 2018
C. Eugene Steuerle, Caleb Quakenbush
Research report

The Tax Cuts and Jobs Act of 2017 leaves many promises of tax reform unfulfilled. In this paper, we examine the plan’s prospects to boost future growth, and discuss fundamental reforms that would boost the stock of capital and generate sustained, long-term growth. After making the case that the...

May 24, 2018
Benjamin H. Harris, Adam Looney
Research report

The Tax Policy Center (TPC), in conjunction with the Internal Revenue Service Office of Research, Applied Analytics and Statistics (RAAS), has recently developed distributional estimates of individual compliance costs for tax filers. This paper describes the process used by TPC to incorporate...

May 9, 2018
Daniel Berger, Eric Toder, Victoria L. Bryant, John L. Guyton, Patrick Langetieg
Research report

We examine the budget outlook, given new Congressional Budget Office (CBO) projections that reflect the recently enacted tax bill and spending deals. The prospect of routine trillion-dollar deficits has dominated public response to CBO’s report, but the underlying problem is even more serious....

April 23, 2018
Alan J. Auerbach, William G. Gale, Aaron Krupkin
Research report

Children under age 6 experience the highest rates of poverty of any age group and are particularly vulnerable to poverty’s lasting effects. The child tax credit (CTC) provides a $2,000 per child credit for children under age 17 (along with a credit of up to $500 per dependent 17 and older). But...

April 1, 2018
Elaine Maag, Chye-Ching Huang, Emily Horton, Chloe Cho,
Research report

The Tax Cut and Jobs Act (TCJA) will reduce individual income taxes on average for all income groups and in all states. Unlike prior Tax Policy Center reports, this analysis focuses on the distribution of the individual income tax changes, and does not include changes in the corporate income tax...

March 28, 2018
Frank Sammartino, Philip Stallworth, David Weiner
Research report

Despite its relatively small role in the federal taxation system—accounting for less than 1 percent of revenues—the estate and gift tax is controversial. This paper surveys evidence on the effect of estate and inheritance taxes on entrepreneurship and presents some new evidence. We use the...

March 5, 2018
Leonard E. Burman, Robert McClelland, Chenxi Lu
Research report

This paper provides new estimates of the number and characteristics of same-sex married couples after Supreme Court rulings in 2013 and 2015 established rights to same-sex marriage. Treasury and the Internal Revenue Service (IRS) subsequently ruled that same-sex spouses would be treated as...

February 28, 2018
Robin Fisher, Geof Gee, Adam Looney