The Stanford Energy Modeling Forum exercise 32 (EMF 32) used 11 different models to assess emissions, energy, and economic outcomes from a plausible range of economy-wide carbon price policies to reduce carbon dioxide (CO2) emissions in the United States. Here we discuss the most policy-relevant...
Despite its relatively small role in the federal taxation system—accounting for less than 1 percent of revenues—the estate and gift tax is controversial. This paper surveys evidence on the effect of estate and inheritance taxes on entrepreneurship and presents some new evidence. We use the...
Despite its relatively small role in the federal taxation system—accounting for less than 1 percent of revenues—the estate and gift tax is controversial. This brief surveys research on the effect of estate and inheritance taxes on entrepreneurship and presents new evidence. We find that...
This paper provides new estimates of the number and characteristics of same-sex married couples after Supreme Court rulings in 2013 and 2015 established rights to same-sex marriage. Treasury and the Internal Revenue Service (IRS) subsequently ruled that same-sex spouses would be treated as...
To respond effectively to state and federal policy changes, city leaders, non-profit service providers, advocates, and researchers all need accurate data on how federal funds flow to local governments. Unfortunately, those data are spread across multiple sources that are often indecipherable or...
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...
The Tax Cuts and Jobs Act of 2018 doubled the maximum child tax credit from $1,000 to $2,000. But about 29 million children under age 17 with at least one working parent will miss out on the full increase because their families earn too little in income or owe too little in taxes.
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...
Unemployment insurance (UI) helps workers smooth their consumption after employment loss, but may also diminish their incentive to quickly find new jobs, thereby lengthening spells of unemployment and raising the aggregate unemployment rate. Less appreciated is the effect that UI has on...
The Tax Cuts and Jobs Act of 2017 allows owners of certain pass-through businesses (such as sole proprietorships, partnerships, and S corporations) to take a new deduction. However, the structure of the deduction is complicated because its generosity depends on many factors, such as the nature...
Policy Insights from the EMF 32 Study on U.S. Carbon Tax Scenarios
The Stanford Energy Modeling Forum exercise 32 (EMF 32) used 11 different models to assess emissions, energy, and economic outcomes from a plausible range of economy-wide carbon price policies to reduce carbon dioxide (CO2) emissions in the United States. Here we discuss the most policy-relevant...
The Effects of Estate and Inheritance Taxes on Entrepreneurship
Despite its relatively small role in the federal taxation system—accounting for less than 1 percent of revenues—the estate and gift tax is controversial. This paper surveys evidence on the effect of estate and inheritance taxes on entrepreneurship and presents some new evidence. We use the...
Do Estate and Inheritance Taxes Affect Entrepreneurship?
Despite its relatively small role in the federal taxation system—accounting for less than 1 percent of revenues—the estate and gift tax is controversial. This brief surveys research on the effect of estate and inheritance taxes on entrepreneurship and presents new evidence. We find that...
Same-Sex Married Tax Filers After Windsor and Obergefell
This paper provides new estimates of the number and characteristics of same-sex married couples after Supreme Court rulings in 2013 and 2015 established rights to same-sex marriage. Treasury and the Internal Revenue Service (IRS) subsequently ruled that same-sex spouses would be treated as...
Follow the Money: How to Track Federal Funding to Local Governments
To respond effectively to state and federal policy changes, city leaders, non-profit service providers, advocates, and researchers all need accurate data on how federal funds flow to local governments. Unfortunately, those data are spread across multiple sources that are often indecipherable or...
The Tax Reform Tradeoff: Eliminating Tax Expenditures, Reducing Rates Final 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...
Who Benefits from the Child Tax Credit Now?
The Tax Cuts and Jobs Act of 2018 doubled the maximum child tax credit from $1,000 to $2,000. But about 29 million children under age 17 with at least one working parent will miss out on the full increase because their families earn too little in income or owe too little in taxes.
This...
Unemployment Insurance and Worker Mobility
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...
Policy Brief: Unemployment Insurance and Worker Mobility
Unemployment insurance (UI) helps workers smooth their consumption after employment loss, but may also diminish their incentive to quickly find new jobs, thereby lengthening spells of unemployment and raising the aggregate unemployment rate. Less appreciated is the effect that UI has on...
Navigating the New Pass-Through Provisions: A Technical Explanation
The Tax Cuts and Jobs Act of 2017 allows owners of certain pass-through businesses (such as sole proprietorships, partnerships, and S corporations) to take a new deduction. However, the structure of the deduction is complicated because its generosity depends on many factors, such as the nature...