Individual Taxes: TaxVox

Biden’s New Taxes for Billionaires: One Is Hard, One Is Easy

This week, President Biden proposed two new taxes on the very rich. A minimum income tax that Biden calls a billionaire tax but would in...
March 31, 2022Steven M. Rosenthal
: Daily Deduction

Blocking IRS Criminal Enforcement Funding, A Little Cut In Grocery Taxes

Senate kills new funding for IRS criminal enforcement crackdown on Russian oligarchs.
March 31, 2022Renu Zaretsky
Individual Taxes: TaxVox

The Many Ways To Tax The Rich

How to tax the rich? Let us count the ways. New taxes on capital income? Higher income tax rates? A wealth tax? Some mash-up of...
March 31, 2022Howard Gleckman
Federal Budget and Economy: Virtual Event

Can State-Level Carbon Pricing Help Achieve National Climate Goals?

Carbon pricing is a powerful tool to curb greenhouse gas emissions and address climate change. While the U.S. government has yet to put a general...
March 30, 2022
Federal Budget and Economy: TaxVox

How the TCJA Affected the Housing Market

When the Tax Cuts and Jobs Act (TCJA) was enacted, critics claimed that reducing the tax subsidy for mortgage interest would hurt home values ...
March 30, 2022Robert McClellandLivia Mucciolo
Federal Budget and Economy: Brief

How Did the Tax Cuts and Jobs Act Of 2017 Affect the Housing Market?

The Tax Cuts and Jobs Act of 2017 (TCJA) dramatically changed tax law, including how taxpayers deduct the interest on their home mortgages. It narrowed the deduction in several ways, so we would expect new mortgages to be smaller than old ones. But it also raised most taxpayers’ after-tax incomes,
March 30, 2022Robert McClellandLivia MuccioloSafia Sayed
Federal Budget and Economy: Research report

New Evidence on The Effect of The TCJA On the Housing Market

The Tax Cuts and Jobs Act of 2017 (TCJA) dramatically changed tax law. It narrowed the subsidy on mortgage interest in several ways, which should lower mortgages and home prices; it also increased most taxpayers’ after-tax incomes, which should have the opposite effect. Thus, the TCJA’s overall
March 30, 2022Robert McClellandLivia MuccioloSafia Sayed
: Daily Deduction

Taxing What You “Have” Versus What You “Earn”

Sen. Manchin opposes President Biden’s minimum tax on very wealthy households.
March 30, 2022Renu Zaretsky
: Daily Deduction

A Budget, and Shifting (Gas Tax) Holiday Plans

Biden’s FY 2023 budget includes new IRS funding.
March 29, 2022Renu Zaretsky
: Daily Deduction

A Minimum Tax On The Super Wealthy?

President Biden’s budget includes a 20 percent minimum tax on the wealthy.
March 28, 2022Renu Zaretsky
In 2020, among all OECD countries, share of total tax revenue from taxes on goods and services ranged from 17% in the U.S. to 55% in Chile. The U.S. does not have a federal value-added tax, unlike most OECD countries.
March 28, 2022
: Daily Deduction

How Do Tax Increases Turn Into Tax Cuts?

Turning tax increases into tax cuts?
March 25, 2022Renu Zaretsky
Federal Budget and Economy: Virtual Event

The Prescription: Fiscal Policy for Today’s Economy with Adam Ozimek

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...
March 24, 2022
: Daily Deduction

Remote Work, Tax Prep Fraud, And A Fuel Tax Cut Across the Pond

Tune in today at Noon for your TPC Prescription with Adam Ozimek.
March 24, 2022Renu Zaretsky
Campaigns, Proposals, and Reforms: TaxVox

Will Congress Turn Democratic Tax Hikes Into Bipartisan Tax Cuts?

A funny thing happened to the trillions of dollars of proposed tax increases on corporations and high-income households that were high on the agendas of...
March 24, 2022Howard Gleckman
: Daily Deduction

Maybe Tax Oil Profits, The Rich, But Not Gasoline…

Matheson: A petroleum profit tax would be efficient and progressive.
March 23, 2022Renu Zaretsky
: Daily Deduction

An Impasse Hits Businesses, A New Law Empowers Taxpaying Voters

Powell: Larger interest rate hikes on the table.
March 22, 2022Renu Zaretsky
Business Taxes: TaxVox

Petroleum Profit Tax Would Be Efficient and Progressive

The recent oil price spike has triggered many calls for a temporary windfall profit tax (WPT) on the oil industry, which the US last imposed...
March 21, 2022Thornton Matheson
: Daily Deduction

Biden’s Budget On The Way, State Gas Tax Holidays Begin


Stay tuned…
March 21, 2022Renu Zaretsky
Between 1979 and 2018, the share of aggregate after-tax income of the top 1% of households grew significantly from 7.4% to 13.6%. In contrast, the shares for the bottom 90 percent of households declined.
March 21, 2022
: Daily Deduction

Clearing A Backlog, Enforcement, Modernization… and Funding?

Rettig: IRS will “absolutely” clear its backlog this year.
March 18, 2022Renu Zaretsky
: Daily Deduction

Rate Hikes, Rate Reductions…

Fed raises rates. More coming.
March 17, 2022Renu Zaretsky
Individual Taxes: Testimony

Options for Improving the Lives of Charitable Beneficiaries Through Reform of The Charitable Deduction

Institute Fellow C. Eugene Steuerle testified before the U.S. Senate Committee on Finance on options for improving the lives of charitable beneficiaries through reform of the charitable deduction. The testimony outlines ways to create a more effective charitable incentive and makes recommendations
March 17, 2022C. Eugene Steuerle
: Daily Deduction

Elusive Agreements, Gig Workers, and Retirees

Signed: President Biden signs $1.5 trillion spending bill with Ukraine aid.
March 16, 2022Renu Zaretsky
: Daily Deduction

Lawsuits, A Repeal And More Musings About Gas Tax Holidays

A lawsuit challenging Maryland’s digital ad tax can proceed, court rules.
March 15, 2022Renu Zaretsky