Reconciliation legislation is passed through an expedited process. First, Congress passes a budget resolution containing “reconciliation instructions” telling congressional committees how much they need to...
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 about
In 2016, income from partnerships and S corporations, a form of "pass-through" income, totaled 27% of adjusted gross income (AGI) for those with AGI over $1 million, compared to 1% for those with AGI under $100,000.
Number of returns, total receipts, business receipts, net income (less deficit), net income, and deficit, by form of business, tax years 1980 to 2015. Includes...
The Urban-Brookings Tax Policy Center (TPC) is holding a series of online conversations on tax and fiscal policy in today’s economy. The discussions take place...
While there is no chance that Congress will agree to broad-based tax reform before the next president takes office in 2017, lawmakers are making one last effort to enact a more narrow business-based reform. But they face a big challenge: reforms under consideration could raise taxes paid by many
Today I had the chance to testify before the House Small Business Committee on the many tax issues facing small business. Here are my opening remarks. You can find my full testimony here . America’s tax system is needlessly complex, economically harmful, and often unfair. Despite recent revenue
To the Obama Administration, tax reform means corporate tax restructuring. Both the president and Treasury Secretary Tim Geithner have argued that at least the first...
While many analysts are focusing on the differences between the House Ways & Means Committee’s tax cut and the just-released version proposed by Senate Finance...