Tax programs that provide deductions to homeowners or credits to both builders and owners, greatly exceed direct federal outlays on housing. The beneficiaries of these tax programs tend to be middle-to-upper income families who own their homes while the recipients of outlays tend to be lower...
Each filing season, Brookings and a number of other research organizations receive queries from people working in the field, wanting to know more about EITC participation in their communities. Unfortunately, researchers face constraints in their ability to provide accurate estimates on many EITC...
The new budget projections released by the Congressional Budget Office (2005) provide an opportunity to assess fiscal policy in the first four years of the Bush administration and to discuss prospects for the next four years and beyond. This report examines the baseline CBO projections, adjusts...
[USA Today] Before the political momentum for Social Security reform dissipates into a single-minded dispute over how much to trust Americans' retirement wealth to the stock market, or the president goes on the road again to stump for personal accounts, larger questions need attention....
Low-income parents use paid preparers more frequently than other parents. This high reliance may be a good thing. Among low-income parents who know about the Earned Income Tax Credit (EITC) those who receive help are more likely to receive the EITC than their peers who prepare their returns...
Beginning with his convention acceptance speech, President Bush has been calling for an ‘‘ownership society’’- ‘‘a path to greater opportunity, more freedom, and more control over your own life.’’ Republicans and Democrats alike should welcome this call since in one form or another most have...
Proposals to replace part of Social Security with individual accounts are now a focus of attention, with the President expressing a strong desire to push forward on creating individual accounts within Social Security. This paper considers the appropriate budgetary treatment of proposals to...
Some have called for eliminating the itemized deduction for state and local income and property taxes as part of tax reform. This Tax Facts column looks at the states most affected by the current deduction and some aspects of repeal.
The Urban-Brookings microsimulation tax model is a powerful tool for federal tax policy analysis. The model calculates tax liability for a representative sample of households, both under the rules that currently exist (current law) and under alternative scenarios. Based on these calculations,...
The Trend in Federal Housing Tax Expenditures
Tax programs that provide deductions to homeowners or credits to both builders and owners, greatly exceed direct federal outlays on housing. The beneficiaries of these tax programs tend to be middle-to-upper income families who own their homes while the recipients of outlays tend to be lower...
Earned Income Credit Participation--What We (Don't) Know
Each filing season, Brookings and a number of other research organizations receive queries from people working in the field, wanting to know more about EITC participation in their communities. Unfortunately, researchers face constraints in their ability to provide accurate estimates on many EITC...
Effects of Recent Tax Cuts on Marginal Tax Rates
The tax fact shows how the 2001 and 2003 tax acts changed marginal tax rates for taxpayers in different income groups.
The Outlook for Fiscal Policy
The new budget projections released by the Congressional Budget Office (2005) provide an opportunity to assess fiscal policy in the first four years of the Bush administration and to discuss prospects for the next four years and beyond. This report examines the baseline CBO projections, adjusts...
Social Security Dialogue Should Be Wide-Ranging
[USA Today] Before the political momentum for Social Security reform dissipates into a single-minded dispute over how much to trust Americans' retirement wealth to the stock market, or the president goes on the road again to stump for personal accounts, larger questions need attention....
Paying the Price?
Low-income parents use paid preparers more frequently than other parents. This high reliance may be a good thing. Among low-income parents who know about the Earned Income Tax Credit (EITC) those who receive help are more likely to receive the EITC than their peers who prepare their returns...
An Ownership Society or a Society For Those Who Already Own?
Beginning with his convention acceptance speech, President Bush has been calling for an ‘‘ownership society’’- ‘‘a path to greater opportunity, more freedom, and more control over your own life.’’ Republicans and Democrats alike should welcome this call since in one form or another most have...
Should the Budget Exclude the Cost of Individual Accounts?
Proposals to replace part of Social Security with individual accounts are now a focus of attention, with the President expressing a strong desire to push forward on creating individual accounts within Social Security. This paper considers the appropriate budgetary treatment of proposals to...
Deductibility of State and Local Taxes
Some have called for eliminating the itemized deduction for state and local income and property taxes as part of tax reform. This Tax Facts column looks at the states most affected by the current deduction and some aspects of repeal.
The Urban-Brookings Tax Policy Center Microsimulation Model
The Urban-Brookings microsimulation tax model is a powerful tool for federal tax policy analysis. The model calculates tax liability for a representative sample of households, both under the rules that currently exist (current law) and under alternative scenarios. Based on these calculations,...