Over the next decade, the individual income tax will be the fastest growing source of federal revenue, according to new estimates by the Congressional Budget...
Just months ago, to the joy of conservatives and the consternation of liberals, several Republican governors proposed major tax reform plans. At least three--Bobby Jindal...
This research report was originally published by the Columbia Journal of Tax Law . The publication is updated version of, " An Analysis of the House GOP Tax Plan ", published by the Tax Policy Center in September. This paper analyzes the House GOP tax reform blueprint, which would significantly
Some tax proposals would reduce the marginal corporate tax rate. Others would boost the top individual rate. Although a differential between corporate and individual rates could reduce the overall tax on distributed corporate income, it could also enable higher-income taxpayers to shelter income
Congress often enacts temporary tax provisions, almost all of which are tax cuts. Some are made temporary to force review when they’re scheduled to expire,...
Carried interest is a contractual right that entitles the general partner of an investment fund to share in the fund’s profits. These funds invest in...
Overall, federal income taxes are progressive: people with higher incomes pay a larger share of their income in taxes than those with lower incomes. This...
The ongoing COP-27 climate conference will take stock of global greenhouse gas (GHG) emissions and encourage member countries to accelerate their efforts to reach climate...
In response to the recent burst of inflation, the IRS is raising contribution limits for the full range of retirement savings accounts. That’s great news...
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 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 tax
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 (
The relationship between tax cuts and economic growth has been the subject of much discussion and debate at the state and federal level. A number of states have reduced taxes to spur economic growth. In this article the Brookings Institution’s William G. Gale and Aaron Krupkin, and the Urban