In a speech today at the Tax Policy Center, Treasury Secretary Jack Lew said the agency will decide “in the very very near future” how it will respond to the recent wave of tax-motivated corporate inversions. Lew strongly urged Congress to curb the practice on its own, but suggested Treasury might

In case you missed it, The New York Times’ political and policy blog The Upshot published a fascinating debate throughout August on the question: Should the corporate income tax be abolished? It’s a query that may be raised on Monday morning, when Treasury Secretary Jack Lew speaks at the Tax

The Congressional Budget Office recently put out new budget projections and commentators have had a series of feel-good moments about it. Debt is under control, they say. Projections of Medicare costs continue to fall, they point out. The CBO’s estimates of future interest rates, and hence interest

Without changes in the law, health care, Social Security, and interest on the debt will eat up 85 percent of all new federal government spending over the next 10 years, according to the latest estimates by the Congressional Budget Office. By contrast, CBO expects most of the rest of government,

Congress is in recess until September 8. The Daily Deduction will next appear on Tuesday, September 2. It will resume its regular schedule on Monday, September 8. Individual tax rates: If you cut them, what will grow ? Representative Paul Ryan, who is likely to become the next chair of the House

Corporate inversions are all the rage these days as U.S. businesses merge with foreign firms and then restructure the combined businesses as foreign-based corporations. That yields tax benefits and may boost their after-tax profits, but it can also leave their stockholders with unwanted capital