Research report

This exercise is a structured analysis to understand the implications that repealing tax expenditures would have for the overall federal tax system. The baseline tax law for the calculations in this exercise is the law in effect before enactment of the Tax Cuts and Jobs Act (essentially the Tax...

February 22, 2018
TPC Staff
Research report

Unemployment insurance (UI) helps workers to smooth their consumption after employment loss, but also diminishes their incentive to quickly find new jobs. While both of these considerations have been extensively studied, little or no attention has been paid to possible implications of UI for...

February 8, 2018
Ryan NunnLaura KawanoBen Klemens
Research report

Taxes defined Congress’s agenda for much of 2017, culminating in passage of the Tax Cuts and Jobs Act (TCJA) in late December. Because of that new federal law, taxes will dominate many state legislative sessions in 2018. The TCJA changed many federal tax provisions, and how states choose to...

January 23, 2018
Richard C. AuxierFrank Sammartino
Research report

Tax cuts often look like “free lunches” for taxpayers, but they eventually have to be paid for with other tax increases or spending cuts. We examine the distributional effects – with and without financing – of both the House and Senate versions of the Tax Cuts and Jobs Act. When ignoring...

December 8, 2017
William G. GaleSurachai KhitatrakunAaron Krupkin
Research report

The Tax Cuts and Jobs Act (TCJA) would reduce tax revenue by nearly $1.5 trillion over the 10-year budget window from FY2018 to FY2027. Analysis by the Tax Policy Center shows that the tax cuts would tilt heavily toward the highest fifth of the income distribution, largely the result of cuts to...

November 28, 2017
Elaine MaagJulia B. Isaacs
Research report

States adopt a variety of budget practices to help define spending priorities and influence fiscal outcomes. However, not all budget practices achieve the desired fiscal objectives, and some practices may compromise states’ long-term fiscal sustainability. This report discusses evidence from the...

November 28, 2017
Megan RandallKim S. Rueben
Research report

In Part 1 of this exercise, TPC estimated the revenue and distributional effects of proposals that wouldeliminate almost all income tax expenditures to lower individual and corporate tax rates and maintain long-run revenue neutrality for the Federal tax system. The results of Part 1 showed that...

November 15, 2017
TPC Staff
Research report

Policy makers have long sought to boost households’ retirement saving through tax incentives. Little is known, however, about how savers’ contributions are linked across different types of tax-preferred accounts. Previous research has concluded that workers who become eligible for a 401(k) plan...

October 25, 2017
William G. GaleAaron KrupkinShanthi Ramnath
Research report

This brief discusses how savers’ contributions are linked across different types of tax-preferred accounts. Previous research has concluded that workers who become eligible for a 401(k) plan also see stronger growth in IRA balances. However, the mechanism for this increase – contributions, asset...

October 25, 2017
William G. GaleAaron KrupkinShanthi Ramnath
Research report

Entrepreneurs create successful enterprises that generate substantial value through the innovations they introduce. They typically must wait many years before their firms generate net operating profits. The tax system favors entrepreneurial activity by allowing deferral of tax on the accrual of...

October 4, 2017
Eric Toder