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...
Eugene Steuerle, Richard Fisher Chair at the Urban Institute and co-founder of the Urban-Brookings Tax Policy Center gave this luncheon presentation at the ABA Tax Meetings Exempt Organization.
Mark Mazur, Director of the Urban-Brookings Tax Policy Center, testified before the Joint Economic Committee during a hearing entitled “Unleashing America’s Economic Potential.” In his testimony, Mazur presented a review of the principles of desirable tax policy, clear and less clear findings...
The House and Senate just passed different versions of proposals to restructure the federal income tax. As of December 12, 2017, a House-Senate conference committee was reconciling the two bills. The bills reduce the corporate tax rate to 20 percent, introduce a preference for income from pass-...
Tax cuts often look like “free lunches” for taxpayers, but they eventually have to be paid for with other tax increases or spending cuts. We examine the distributional effects – with and without financing – of both the House and Senate versions of the Tax Cuts and Jobs Act. When ignoring...
This brief documents how the US tax system treats the most common forms of equity compensation, including stock, restricted stock units, and stock options. In most cases, these forms of equity compensation are taxed just like cash wages, salaries, and bonuses. Employees pay ordinary income taxes...
This analysis was updated on October 27, 2017 to incorporate dynamic scoring results.
The Tax Policy Center has produced preliminary estimates of the potential impact of proposals included in the “Unified Framework for Fixing Our Broken Tax Code.” We find they would reduce...
Donald Marron, Institute Fellow at the Urban-Brookings Tax Policy Center, testified before the US Senate Committee on Finance as part of the hearing "Business Tax Reform." Marron presented seven main points about business tax reform based on the proposals that have been discussed by the Congress...
Tax cuts often look like “free lunches” for taxpayers, but they eventually have to be paid for with other tax increases or spending cuts. We examine the distributional effects – with and without financing – of a tax plan consistent with the outline the Trump Administration produced in April. ...
Bill Gale discusses the current tax reform initiatives by Congress and the Administration and outlines some issues Republicans may face when trying to pass tax legislation in this...
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...
Challenges & Opportunities for Charities after the 2017 Tax Cuts and Jobs Act
Eugene Steuerle, Richard Fisher Chair at the Urban Institute and co-founder of the Urban-Brookings Tax Policy Center gave this luncheon presentation at the ABA Tax Meetings Exempt Organization.
Reflections on the Tax Cuts and Jobs Act
Mark Mazur, Director of the Urban-Brookings Tax Policy Center, testified before the Joint Economic Committee during a hearing entitled “Unleashing America’s Economic Potential.” In his testimony, Mazur presented a review of the principles of desirable tax policy, clear and less clear findings...
What Workers and Companies Should Know About the Republican Tax Bills
The House and Senate just passed different versions of proposals to restructure the federal income tax. As of December 12, 2017, a House-Senate conference committee was reconciling the two bills. The bills reduce the corporate tax rate to 20 percent, introduce a preference for income from pass-...
Winners and Losers After Paying for the Tax Cuts and Jobs Act
Tax cuts often look like “free lunches” for taxpayers, but they eventually have to be paid for with other tax increases or spending cuts. We examine the distributional effects – with and without financing – of both the House and Senate versions of the Tax Cuts and Jobs Act. When ignoring...
How Should Tax Reform Treat Employee Stock and Options?
This brief documents how the US tax system treats the most common forms of equity compensation, including stock, restricted stock units, and stock options. In most cases, these forms of equity compensation are taxed just like cash wages, salaries, and bonuses. Employees pay ordinary income taxes...
A Preliminary Analysis of the Unified Framework
This analysis was updated on October 27, 2017 to incorporate dynamic scoring results.
The Tax Policy Center has produced preliminary estimates of the potential impact of proposals included in the “Unified Framework for Fixing Our Broken Tax Code.” We find they would reduce...
Business Tax Reform
Donald Marron, Institute Fellow at the Urban-Brookings Tax Policy Center, testified before the US Senate Committee on Finance as part of the hearing "Business Tax Reform." Marron presented seven main points about business tax reform based on the proposals that have been discussed by the Congress...
Cutting Taxes and Making Future Americans Pay for It: How Trump’s Tax Cuts Could Hurt Many Households
Tax cuts often look like “free lunches” for taxpayers, but they eventually have to be paid for with other tax increases or spending cuts. We examine the distributional effects – with and without financing – of a tax plan consistent with the outline the Trump Administration produced in April. ...
Can Republicans Thread the Needle on Tax Policy?
Bill Gale discusses the current tax reform initiatives by Congress and the Administration and outlines some issues Republicans may face when trying to pass tax legislation in this...