Research report

Much of the state tax policy discussion during the past decade has centered on the performance of corporate income taxes and ways to restructure them. This report focuses on state responses to the weak corporate tax collections during the 2000-2003 period as well as to the revenue performance...

January 29, 2008
William F. FoxLeAnne LunaMatthew N. Murray
Research report

Relative to previous recessions, the 2001 recession was short and not very deep. Even so, it had a significant effect on the fiscal condition of state and local governments. This report examined how the recession affected state and local government spending on K-12 education in the three years...

January 30, 2008
James AlmRobert D. BuschmanDavid L. Sjoquist
Research report

Tax and fiscal policy will loom large in the next president's domestic policy agenda. Nearly all of the tax cuts enacted since 2001 expire at the end of 2010 and the individual alternative minimum tax (AMT) threatens to ensnare tens of millions of Americans. While a permanent fix palatable to...

July 23, 2008
Leonard E. BurmanSurachai KhitatrakunGreg LeisersonJeffrey RohalyEric ToderRoberton C. Williams
Research report

Tax and fiscal policy will loom large in the next president's domestic policy agenda. Nearly all of the tax cuts enacted since 2001 expire at the end of 2010 and the individual alternative minimum tax (AMT) threatens to ensnare tens of millions of Americans. While a permanent fix palatable to...

September 12, 2008
Roberton C. WilliamsLeonard E. BurmanSurachai KhitatrakunJeffrey RohalyEric Toder
Research report

In this paper we review the current wealth transfer tax rules and the changes introduced in 2001. We offer an overview of the methodology underlying the TPC's estate tax model and then use the model to estimate the number of estate tax filers, taxable returns, and the distribution of burden...

October 20, 2008
Leonard E. BurmanKatherine LimJeffrey Rohaly
Research report

In response to the deterioration of the economy and the decline in asset values, Senators McCain and Obama have offered new proposals related to unemployment compensation, retirement savings, taxation of capital gains, and job creation. Although the proposals would provide some benefit, they...

October 27, 2008
Roberton C. Williams
Research report

During the presidential campaign, Barack Obama proposed a comprehensive tax plan that would raise taxes on high-income taxpayers, cut taxes for low- and middle-income households, and lose $2.9 trillion dollars of revenue over ten years. Obama will take office with the economy in sharp recession...

January 8, 2009
Roberton C. Williams
Research report

One of the most vexing and contentious issues in taxation is the proper treatment of capital gains-the increase in value of an asset such as shares of company stock or a business. In principle, under an income tax, capital gains should be included in the tax base as they accrue. In practice, if...

March 25, 2009
Leonard E. Burman
Research report

Some tax proposals would reduce the marginal corporate tax rate. Others would boost the top individual rate. Although a differential between corporate and individual rates could reduce the overall tax on distributed corporate income, it could also enable higher-income taxpayers to shelter income...

July 29, 2009
Dan Halperin
Research report

Overall, the federal tax system is progressive. On average, households with higher incomes pay taxes that are a larger share of their income. But barring legislative action, the numerous sunsets and phase-ins that Congress has written into the tax code will result in a tax system that is in a...

August 21, 2009
Rachel M. JohnsonJeffrey Rohaly