States reported strong revenue growth in the first quarter of 2021, but there is still large variation in revenue performance across states. Over a 12-month period (April 2020 through March 2021), state total tax revenues increased 0.6 percent compared to the same...
In this paper, we extend the analysis in DeBacker et al. (2021) and consider the sensitivity of the simulation results to the values of important, exogenous parameters. Like any model, the OG...
NOTE: This is an updated version of the analysis published November 10, 2020.1
The Tax Policy Center (TPC) has analyzed the macroeconomic effects of the tax proposals that President Joe Biden advanced during his 2020 presidential campaign. We find the...
Harry Grubert made important contributions to our thinking about international tax policies. He identified the numerous margins on which corporate tax systems could distort behavior in a global economy and estimated the relative costs of these distortions. His views evolved over time from...
This paper estimates the effective tax rate on entrepreneurial income, defined as the return to an individual who starts a successful new business and then sells their interest once it becomes an established enterprise. The rate depends on both the tax imposed on the appreciation of the firm’s...
This paper provides a detailed exposition of the effects of President Biden’s 2020 campaign proposal on the U.S. economy and budget that are summarized in Page et al. (2021). The analysis is done using...
State taxes were upended in the aftermath of the COVID-19 pandemic as governments shut down large parts of the economy. While overall state tax revenues have fared better than expected since then, state leaders have been closely examining existing tax policies and...
States reported solid revenue growth in the fourth quarter of 2020, but there is large variation across states and across revenue sources. Over a nine-month period (April through December 2020), state total tax revenues declined 2.2 percent compared to the same...
Janet Holtzblatt, senior fellow in the Tax Policy Center, testified before the Select Revenue Measures and Oversight subcommittees of House Ways and Means at a hearing on the tax gap and improving tax administration. The testimony focused on four key areas: the impact of reductions in the IRS’s...
Elaine Maag, Principal Research Associate in the Urban-Brookings Tax Policy Center, testified before the Council of the District of Columbia’s Committee on Business and Economic Development. The hearing included a discussion on the “Child Wealth Building Act of 2021” (B24-236) and tax policy...
State Tax and Economic Review, 2021 Quarter 1
States reported strong revenue growth in the first quarter of 2021, but there is still large variation in revenue performance across states. Over a 12-month period (April 2020 through March 2021), state total tax revenues increased 0.6 percent compared to the same...
A Sensitivity Analysis of a Detailed Macroeconomic Analysis of President Biden's 2020 Campaign Tax Proposals
In this paper, we extend the analysis in DeBacker et al. (2021) and consider the sensitivity of the simulation results to the values of important, exogenous parameters. Like any model, the OG...
Macroeconomic Analysis of Former Vice President Biden's Tax Proposals
NOTE: This is an updated version of the analysis published November 10, 2020.1
The Tax Policy Center (TPC) has analyzed the macroeconomic effects of the tax proposals that President Joe Biden advanced during his 2020 presidential campaign. We find the...
Harry Grubert’s Evolving Views on International Tax Policy
Harry Grubert made important contributions to our thinking about international tax policies. He identified the numerous margins on which corporate tax systems could distort behavior in a global economy and estimated the relative costs of these distortions. His views evolved over time from...
Does the Federal Income Tax Law Favor Entrepreneurs?
This paper estimates the effective tax rate on entrepreneurial income, defined as the return to an individual who starts a successful new business and then sells their interest once it becomes an established enterprise. The rate depends on both the tax imposed on the appreciation of the firm’s...
A Detailed Macroeconomic Analysis of President Biden's 2020 Campaign Tax Proposals
This paper provides a detailed exposition of the effects of President Biden’s 2020 campaign proposal on the U.S. economy and budget that are summarized in Page et al. (2021). The analysis is done using...
Surveying State Leaders on the State of State Taxes
State taxes were upended in the aftermath of the COVID-19 pandemic as governments shut down large parts of the economy. While overall state tax revenues have fared better than expected since then, state leaders have been closely examining existing tax policies and...
State Tax and Economic Review, 2020 Quarter 4
States reported solid revenue growth in the fourth quarter of 2020, but there is large variation across states and across revenue sources. Over a nine-month period (April through December 2020), state total tax revenues declined 2.2 percent compared to the same...
The Effect of Tax Enforcement on Revenues
Janet Holtzblatt, senior fellow in the Tax Policy Center, testified before the Select Revenue Measures and Oversight subcommittees of House Ways and Means at a hearing on the tax gap and improving tax administration. The testimony focused on four key areas: the impact of reductions in the IRS’s...
Using Basic Income to Meet the Needs of DC Communities
Elaine Maag, Principal Research Associate in the Urban-Brookings Tax Policy Center, testified before the Council of the District of Columbia’s Committee on Business and Economic Development. The hearing included a discussion on the “Child Wealth Building Act of 2021” (B24-236) and tax policy...