This essay is the tenth in a twelve-essay colloquium on the effect of low interest rates on the economy. To read other essays in the series, click here. The original version of this paper was...
The Protecting Americans from Tax Hikes Act of 2015 requires the IRS to delay tax refunds for taxpayers who claim an earned income tax credit or additional child tax credit on their returns until at least February 15. The delay could help the IRS better check claims for these credits. But this...
This report considers three options for restructuring the home mortgage interest deduction – replacing the deduction with a 15 percent non-refundable interest credit, reducing the ceiling on debt eligible for an interest subsidy to $500,000, and combining the substitution of the credit for the...
The income tax provisions related to families and work—filing status, rate schedules, the standard deduction, personal exemptions, the child and earned income tax credits, and the taxation of dependents—are complex, too small to encourage work for many low earners, and unfair to some families....
Bad framing of fiscal policy contributes to a poor allocation of money collected and spent. Almost all real growth in government goes automatically to health, retirement and tax subsidies, while spending on children, the work force, and infrastructure are scheduled for decline as a share of...
Long-term budget projections do not have to be right to be useful. Even when they are wrong, forecasts give valuable information about the long-term direction of key sectors of the budget, economy, and population. A variety of models now shows important demographic shifts—such as the aging of...
State workforce and economic development interests naturally align. However, state-level collaboration between economic development and workforce development agencies and activities is not well understood. This paper explores opportunities for collaboration between state workforce and economic...
In this article, Rosenthal argues that Republican presidential nominee Donald Trump aggressively stretched the law to avoid hundreds of millions of dollars of discharge of indebtedness income.
This article was originally published by TaxNotes.
We usually think of lame ducks as politicians who have lost influence to their successors, but the next president could enter office with his or her influence already lost to his or her predecessors. The growing revenues that accompany economic growth traditionally provide a way for government...
Eric Toder and Alan Viard address corporate tax avoidance in the U.S. and suggest taxing shareholders at a higher rate would prevent companies from shifting their profits abroad.
Interest Rates and the Federal Budget Outlook
This essay is the tenth in a twelve-essay colloquium on the effect of low interest rates on the economy. To read other essays in the series, click here. The original version of this paper was...
Delaying Tax Refunds for Earned Income Tax Credit and Additional Child Tax Credit Claimants
The Protecting Americans from Tax Hikes Act of 2015 requires the IRS to delay tax refunds for taxpayers who claim an earned income tax credit or additional child tax credit on their returns until at least February 15. The delay could help the IRS better check claims for these credits. But this...
Effects of Reforms of the Home Mortgage Interest Deduction by Income Group and by State
This report considers three options for restructuring the home mortgage interest deduction – replacing the deduction with a 15 percent non-refundable interest credit, reducing the ceiling on debt eligible for an interest subsidy to $500,000, and combining the substitution of the credit for the...
An Option to Reform the Income Tax Treatment of Families and Work
The income tax provisions related to families and work—filing status, rate schedules, the standard deduction, personal exemptions, the child and earned income tax credits, and the taxation of dependents—are complex, too small to encourage work for many low earners, and unfair to some families....
How Budget Offices Should Reframe Our Long-Term Budget Problems
Bad framing of fiscal policy contributes to a poor allocation of money collected and spent. Almost all real growth in government goes automatically to health, retirement and tax subsidies, while spending on children, the work force, and infrastructure are scheduled for decline as a share of...
The Reliability of Long-Term Budget Projections
Long-term budget projections do not have to be right to be useful. Even when they are wrong, forecasts give valuable information about the long-term direction of key sectors of the budget, economy, and population. A variety of models now shows important demographic shifts—such as the aging of...
State Workforce and Economic Development
State workforce and economic development interests naturally align. However, state-level collaboration between economic development and workforce development agencies and activities is not well understood. This paper explores opportunities for collaboration between state workforce and economic...
Protecting Trump's $916 Million of NOLs
In this article, Rosenthal argues that Republican presidential nominee Donald Trump aggressively stretched the law to avoid hundreds of millions of dollars of discharge of indebtedness income.
This article was originally published by TaxNotes.
A Lame Duck President in 2017?
We usually think of lame ducks as politicians who have lost influence to their successors, but the next president could enter office with his or her influence already lost to his or her predecessors. The growing revenues that accompany economic growth traditionally provide a way for government...
We Need to Raise Taxes for Shareholders and Cut them for Companies
Eric Toder and Alan Viard address corporate tax avoidance in the U.S. and suggest taxing shareholders at a higher rate would prevent companies from shifting their profits abroad.