Individual Taxes: TaxVox

Biden Budget Takes Crypto Compliance Efforts Global

Cryptocurrency compliance is going global. But is the US ready to tackle compliance with foreign exchanges and accountholders before it finishes developing reporting rules for...
April 11, 2022John Buhl
: Daily Deduction

Carbon Taxes, Wealth Taxes, Marijuana Tax Breaks, and Global Tax Reform

Combining BBB’s climate provisions with a carbon tax.
April 11, 2022Renu Zaretsky
Local governments have become more reliant on general sales taxes and gross receipts taxes over time. These taxes comprised 7.4% of total local general revenue in 2019, up from 4.6% in 1977.
April 11, 2022
Federal Budget and Economy: OverviewComposition of TaxesFederal Receipts & Outlays

Source of Revenue as Share of GDP

Receipt composition as a share of GDP by type of tax from 1934 to 2027.
April 8, 2022
Federal Budget and Economy: OverviewComposition of TaxesFederal Receipts & Outlays

Percentage of Revenue by Source

Percentage of receipt composition for each type of tax from 1934 to 2027.
April 8, 2022
State and Local Issues: Testimony

Understanding The 2014 DC Tax Revision Commission’s Recommendation to Eliminate Certain Individual Income Tax Expenditures

Kim Rueben, Sol Price Fellow at the Urban Institute, and Richard Auxier, Senior Policy Associate at the Urban Institute, testified before the Council of the District of Columbia’s Committee on Business and Economic Development on March 14, 2022. The hearing included a discussion on the “Pension
April 8, 2022Kim S. RuebenRichard C. Auxier
Federal Budget and Economy: ExciseOverviewFederal Receipts & Outlays

Excise Tax Receipts

Composition of excise tax receipts from 1940 to 2027.
April 8, 2022
Federal Budget and Economy: Payroll

Payroll Tax Receipts

Composition of payroll tax receipts from 1940 to 2027.
April 8, 2022
Federal Budget and Economy: OverviewFederal Receipts & Outlays

Federal Debt

The federal debt in dollars and as a percent of GDP from 1940 to 2027.
April 8, 2022
Federal Budget and Economy: OverviewFederal Receipts & Outlays

Federal Receipt and Outlay Summary by Fund Group

Summary of receipts and outlays by fund group from 1934 to 2027.
April 8, 2022
: Daily Deduction

Financial Consequences For Russia, Understanding US Energy Tax Policy

Congress strips special trade status from Russia.
April 8, 2022Renu Zaretsky
Business Taxes: TaxVox

The Energy Tax Policy Conundrum: Do We Want To Reduce Fossil Fuel Prices Or Increase Them?

State and federal lawmakers are debating an extraordinary range of often-contradictory energy-related tax changes. These inconsistencies have existed for years, but they rarely have been...
April 7, 2022Howard Gleckman
Federal Budget and Economy: Virtual Event

The Prescription: Fiscal Policy for Today’s Economy with Ellen Hughes-Cromwick

The Urban-Brookings Tax Policy Center is holding a series of online conversations on tax and fiscal policy in today’s economy. The discussions take place every...
April 7, 2022
Federal Budget and Economy: OverviewFederal Receipts & Outlays

Amount of Revenue by Source

Receipt composition by type of tax from 1934 to 2027.
April 7, 2022
Federal Budget and Economy: OverviewFederal Receipts & Outlays

Amount of Outlays by Function

Outlays composition by type of spending from 1962 to 2027.
April 7, 2022
: Daily Deduction

Tax Relief Can Come In All Shapes And Sizes

A bigger tax deduction for teachers?
April 7, 2022Renu Zaretsky
Federal Budget and Economy: OverviewFederal Receipts & Outlays

Federal Receipt and Outlay Summary

Receipts, outlays, and surplus or deficit in dollars and as a percent of GDP from 1940 to 2027.
April 6, 2022
Individual Taxes: TaxVox

Hey Tax Filers: There’s (At Least) One Thing You Should Know…

How do ten TPC experts answer this simple question: “What is the single most important thing an average filer should know about tax policy, and why?”
April 6, 2022Renu Zaretsky
: Daily Deduction

A Proposed ACA Fix, Another Global Tax Veto, And More State Tax Cuts

President Biden wants to expand eligibility for health care premium tax credits.
April 6, 2022Renu Zaretsky
: TaxVox

How Much Will People Save From Maryland’s Gas Tax Holiday? Not Much

In response to rising gas prices, Maryland suspended its gas tax for 30 days. Connecticut and Georgia also have created gas tax holidays and lawmakers...
April 5, 2022Robert McClelland
: Daily Deduction

Once More Unto The Breach!

Will Senate Democrats make a deal with Sen. Manchin on a smaller spending plan?
April 5, 2022Renu Zaretsky
: Daily Deduction

There Are Two Weeks Until Tax Day…

Don’t leave money on the table.
April 4, 2022Renu Zaretsky
Federal excise tax receipts from tobacco products totaled $12.4 billion in 2020. In inflation-adjusted terms, tobacco excise tax receipts are at roughly the same level as in the 1940s.
April 4, 2022
: TaxVox

Happy Birthday, TPC

On April 1, 2002, a press release announced, “The Tax Policy Center, a new joint venture between the Urban Institute and the Brookings Institution” was...
April 1, 2022Leonard E. Burman
: TaxVox

The Winners and Losers of Rising Oil Prices

With gasoline prices spiking, many state legislatures are debating whether to suspend gas taxes in an effort to provide some relief to consumers. But higher...
April 1, 2022Lucy Dadayan