Individual Taxes

T14-0090 - Repeal the Individual Alternative Minimum Tax (AMT), Baseline: Current Law, Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2023

July 29, 2014
Individual Taxes

T14-0091 - Repeal the Individual Alternative Minimum Tax (AMT), Effective Marginal Tax Rates on Wages, Salaries, and Capital Income, By Expanded Cash Income Level, 2015

July 29, 2014
Individual Taxes

T14-0092 - Repeal the Individual Alternative Minimum Tax (AMT), Effective Marginal Tax Rates on Wages, Salaries, and Capital Income, By Expanded Cash Income Level, 2023

July 29, 2014
Individual Taxes

T14-0093 - Repeal the Individual Alternative Minimum Tax (AMT), Effective Marginal Income Tax Rates on Wages, Salaries, and Capital Income, By Expanded Cash Income Percentile, 2015

July 29, 2014
Individual Taxes

T14-0094 - Repeal the Individual Alternative Minimum Tax (AMT), Effective Marginal Income Tax Rates on Wages, Salaries, and Capital Income, By Expanded Cash Income Percentile, 2023

July 29, 2014
Individual Taxes

T14-0095 - Repeal the Individual Alternative Minimum Tax (AMT), Effective Marginal Tax Rates (EMTR) on Wages and Salaries, By Expanded Cash Income Level, 2015, Adendum Table

July 29, 2014
Individual Taxes: TaxVox

Are Tax Inversions Really Unpatriotic?

President Obama and many congressional Democrats argue that U.S.-based multinational firms are being unpatriotic by moving their corporate addresses overseas in order to reduce their taxes. Obama even implied they are “corporate deserters.” These are powerful, emotionally-charged allegations. But
July 29, 2014Howard Gleckman
: TaxVox

How Do You Solve a Problem Like Inversions?

How do you catch a tax and pin it down? Can governments make corporations “ stay and listen to all they say ?” Treasury Secretary Jack Lew in his Washington Post op-ed called on Congress to immediately stop corporations from lowering taxes by incorporating overseas. Former Treasury official Steve
July 29, 2014Renu Zaretsky
Individual Taxes: TaxVox

The “Helping Working Families Afford Child Care Act” Would Help, but Doesn’t Solve the Timing Mismatch

The Child and Dependent Care Tax Credit (CDCTC) does not work for low-income families. It fails on three counts – the credit is nonrefundable, covers only a portion of expenses, and comes long after expenses have been incurred. Senators Jeanne Shaheen (D-NH), Barbara Boxer (D-CA), Patty Murray (D-
July 28, 2014Elaine Maag
: TaxVox

A Showdown, Some Backlash and Big Bets

The Highway Trust Fund is almost out of gas. Congress leaves for its month-long recess on Friday, but without legislative action the fund will run out in August. The Senate is expected to vote on the amended bill this week, though it needs 60 votes to pass. Senate Majority Leader Harry Reid had
July 28, 2014Renu Zaretsky
Business Taxes: Brief

How To Stop Corporations From Fleeing U.S. Tax Laws

In a contribution to The Wall Street Journal's MarketWatch, Eric Toder explains why corporations expatriate from the United States and argues that they will continue to do so until Congress addresses the fundamental flaws in the corporate income tax. He then provides some possible solutions to end
July 28, 2014Eric Toder
Campaigns, Proposals, and Reforms

T14-0080 - Sen. Shaheen's Child and Dependent Care Tax Credit (CDCTC) Proposal: The "Helping Working Families Afford Child Care Act", Baseline: Current Law, Distribution of Federal Tax Change by Expanded Cash Income Level, 2015

July 27, 2014
Campaigns, Proposals, and Reforms

T14-0079 - Sen. Shaheen's Child and Dependent Care Tax Credit (CDCTC) Proposal: The "Helping Working Families Afford Child Care Act", Change in Individual Income Tax Revenue, 2015-2024 ($ billions), Baseline: Current Law

July 27, 2014
Campaigns, Proposals, and Reforms

T14-0081 - Sen. Shaheen's Child and Dependent Care Tax Credit (CDCTC) Proposal: The "Helping Working Families Afford Child Care Act", Baseline: Current Law, Distribution of Federal Tax Change by Expanded Cash Income Level, 2023

July 27, 2014
Campaigns, Proposals, and Reforms

T14-0082 - Sen. Shaheen's Child and Dependent Care Tax Credit (CDCTC) Proposal: The "Helping Working Families Afford Child Care Act", Baseline: Current Law, Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2015

July 27, 2014
Campaigns, Proposals, and Reforms

T14-0083 - Sen. Shaheen's Child and Dependent Care Tax Credit (CDCTC) Proposal: The "Helping Working Families Afford Child Care Act", Baseline: Current Law, Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2023

July 27, 2014
Campaigns, Proposals, and Reforms

T14-0084 - Sen. Shaheen's Child and Dependent Care Tax Credit (CDCTC) Proposal: The "Helping Working Families Afford Child Care Act", Number of Beneficiaries and Amount of Benefit Compared to Current Law, 2015

July 27, 2014
Campaigns, Proposals, and Reforms

T14-0085 - Sen. Shaheen's Child and Dependent Care Tax Credit (CDCTC) Proposal: The "Helping Working Families Afford Child Care Act", Number of Beneficiaries and Amount of Benefit Compared to Current Law, 2023

July 27, 2014
: Daily Deduction

There’s No Joy in Inversion-Ville

Corporate inversions: Not exactly a home-run campaign issue. But some Democrats are swinging for the fences anyway, including President Obama: “You shouldn’t get to call yourself an American company only when you want a handout from American taxpayers .” He reiterated a call for “economic
July 25, 2014Renu Zaretsky
Federal Budget and Economy: Testimony

Constitutional Solutions to Our Escalating National Debt: Examining Balanced Budget Amendments

Testimony of Henry J. Aaron to the House Judiciary Committee
Henry J. Aaron testifies before the House Judiciary Committee, arguing that despite the relatively high levels of current government debt and the budget challenges that the nation faces in the future, instituting a federal balanced budget amendment would negatively impact the economy and threaten
July 25, 2014Henry J. Aaron
Individual Taxes: TaxVox

The Bring Jobs Home Act Won’t

The Bring Jobs Home Act is a classic message bill. Its Democratic sponsors have no interest in making it law, they merely see it as a way to boost the party’s Senate candidates in part by forcing Republicans to vote against something that sounds like a good idea. After all, who could be against
July 24, 2014Howard Gleckman
: TaxVox

Reducing Income Inequality, Taxing Businesses to “Hire American”

Have Obama’s tax policies reduced income inequality? TPC has some new data, but the answer depends on who you compare him to. Relative to George W. Bush, who pushed major tax cuts for high-income households, Obama has reduced inequality. But compared to Bill Clinton, his policy is pretty standard
July 24, 2014Renu Zaretsky
Individual Taxes: Research report

Implications for Changing the Child Tax Credit Refundability Threshold

This Tax Fact explores the child tax credits refundability thresholds since its inception. Currently, the CTC is a $1,000-per-child credit that is partially refundable for households earning more than $3,000. This Tax Fact explores the distribution of credits when the refundability threshold rises
July 24, 2014Elaine MaagLydia Austin
Campaigns, Proposals, and Reforms: TaxVox

How Progressive is Obama’s Tax Policy?

Has President Obama’s tax policy reduced income inequality? It depends on what you are comparing it to. White House Council of Economic Advisors chief Jason Furman claims that President Obama’s tax policies have sharply reduced inequality. Today’s Washington Post Wonkblog featured some new tables
July 23, 2014Leonard E. Burman
: TaxVox

ACA Tax Subsidies Face Risk; IRS Enforcement Is Overtaxed

Two appeals courts deliver opposing rulings on Affordable Care Act tax subsidies. The DC Circuit Court ruled yesterday that the tax credits can only go to residents in states that run their own health exchanges. In Richmond, VA, the 4th Circuit Court said the ACA language isn’t clear, so the tax
July 23, 2014Renu Zaretsky