On February 27, 2019 William G. Gale testified in front of the 116th U.S. House of Representatives Committee on the Budget for a hearing entitled, "2017 Tax Law: Impact on the Budget and American Families."
Recent tax credit proposals to help low- and middle-income families, such as Senator Kamala Harris’ LIFT the Middle Class Act, are being hotly debated. We examine the ability of these proposals, the current earned income tax credit (EITC), and the child tax credit (CTC) to achieve three goals:...
Steven M. Rosenthal, Senior Fellow at the Urban-Brookings Tax Policy Center, testified before the House Ways and Means Subcommittee on Oversight during a hearing entitled “Legislative Proposals and Tax Law Related to Presidential and Vice-Presidential Tax Returns.” In his testimony, Rosenthal...
A robust carbon tax would generate considerable revenue. Some carbon tax advocates have suggested returning those revenues to Americans through direct payments, often called carbon dividends. We examine how to design these dividends considering two, sometimes conflicting, principles. Carbon...
The federal tax treatment of charitable giving and the nonprofit sector is at an inflection point. Following enactment of the Tax Cuts and Jobs Act in 2017, the number of taxpayers who will claim a charitable deduction will decline substantially. What does that mean for charitable giving and the...
The Protecting Family and Small Business Tax Cuts Act of 2018 extends major individual income and estate tax provisions from 2017’s Tax Cuts and Jobs Act that are currently scheduled to expire at the end of 2025. The bill would reduce federal revenues by $631 billion within the budget window (...
This brief addresses issues relating to the creation of border carbon adjustments (BCAs) as part of a carbon tax. A carbon tax that is imposed only in the U.S. could put American firms at a competitive disadvantage. A BCA could level the playing field so that U.S. and foreign-firms face the same...
This paper addresses issues relating to the creation of border carbon adjustments (BCAs) as part of a carbon tax. A carbon tax that is imposed only in the U.S. could put American firms at a competitive disadvantage. A BCA could level the playing field so that U.S. and foreign-firms face the same...
In this paper, part of the Carbon Tax Research Initiative led by Columbia University’s SIPA Center on Global Energy Policy, we estimate how a carbon tax would affect the distribution of tax burdens across US taxpayers. We consider three carbon tax scenarios that would price carbon at roughly $14...
This paper examines the Tax Cuts and Jobs Act (TCJA) of 2017, the largest tax overhaul since 1986. The new tax law makes substantial changes to the rates and bases of both the individual and corporate income taxes, cutting the corporate income tax rate to 21 percent, redesigning international...
The 2017 Tax Law: Impact on the Budget and American Families
On February 27, 2019 William G. Gale testified in front of the 116th U.S. House of Representatives Committee on the Budget for a hearing entitled, "2017 Tax Law: Impact on the Budget and American Families."
Lots of Plans to Boost Tax Credits: Which is Best?
Recent tax credit proposals to help low- and middle-income families, such as Senator Kamala Harris’ LIFT the Middle Class Act, are being hotly debated. We examine the ability of these proposals, the current earned income tax credit (EITC), and the child tax credit (CTC) to achieve three goals:...
The Value of Presidential and Vice-Presidential Tax Returns to the Public and Congress
Steven M. Rosenthal, Senior Fellow at the Urban-Brookings Tax Policy Center, testified before the House Ways and Means Subcommittee on Oversight during a hearing entitled “Legislative Proposals and Tax Law Related to Presidential and Vice-Presidential Tax Returns.” In his testimony, Rosenthal...
How to Design Carbon Dividends
A robust carbon tax would generate considerable revenue. Some carbon tax advocates have suggested returning those revenues to Americans through direct payments, often called carbon dividends. We examine how to design these dividends considering two, sometimes conflicting, principles. Carbon...
Reforming Charitable Tax Incentives: Assessing Evidence and Policy Options
The federal tax treatment of charitable giving and the nonprofit sector is at an inflection point. Following enactment of the Tax Cuts and Jobs Act in 2017, the number of taxpayers who will claim a charitable deduction will decline substantially. What does that mean for charitable giving and the...
Analysis of the Protecting Family and Small Business Tax Cuts Act of 2018
The Protecting Family and Small Business Tax Cuts Act of 2018 extends major individual income and estate tax provisions from 2017’s Tax Cuts and Jobs Act that are currently scheduled to expire at the end of 2025. The bill would reduce federal revenues by $631 billion within the budget window (...
Policy Brief: Making Border Carbon Adjustments Work in Law and Practice
This brief addresses issues relating to the creation of border carbon adjustments (BCAs) as part of a carbon tax. A carbon tax that is imposed only in the U.S. could put American firms at a competitive disadvantage. A BCA could level the playing field so that U.S. and foreign-firms face the same...
Making Border Carbon Adjustments Work in Law and Practice
This paper addresses issues relating to the creation of border carbon adjustments (BCAs) as part of a carbon tax. A carbon tax that is imposed only in the U.S. could put American firms at a competitive disadvantage. A BCA could level the playing field so that U.S. and foreign-firms face the same...
Distributional Implications of a Carbon Tax
In this paper, part of the Carbon Tax Research Initiative led by Columbia University’s SIPA Center on Global Energy Policy, we estimate how a carbon tax would affect the distribution of tax burdens across US taxpayers. We consider three carbon tax scenarios that would price carbon at roughly $14...
Effects of the Tax Cuts and Jobs Act: A Preliminary Analysis
This paper examines the Tax Cuts and Jobs Act (TCJA) of 2017, the largest tax overhaul since 1986. The new tax law makes substantial changes to the rates and bases of both the individual and corporate income taxes, cutting the corporate income tax rate to 21 percent, redesigning international...