Federal Budget and Economy: OverviewFederal Receipts & Outlays

Projected Income Tax Expenditure Budget

Total corporate and individual income tax expenditures.
March 7, 2022
: Daily Deduction

Deadlines Approach, ISO More Staff

Spending bill talks will need to speed up.
March 7, 2022Renu Zaretsky
In fiscal year 2019, state and local governments raised $577 billion in property taxes. As a share of general revenue, New Hampshire relied the most on property tax revenue (36%) whereas Alabama and New Mexico relied the least (7%).
March 7, 2022
: Daily Deduction

Encouraging Retirement Saving, States Still Shop For Tax Cuts

Retirement savings incentives could make their way into an omnibus spending bill.
March 4, 2022Renu Zaretsky
State and Local Issues: TaxVox

Congress Should Do More Than Block Tax-Exempt Bonds For Pro Sports Stadiums

Virginia’s efforts to subsidize a stadium and mixed-use commercial development for Dan Snyder and his Washington Commanders NFL football team would be a foolish waste...
March 4, 2022Howard Gleckman
State and Local Issues: StateMain Features of State Tax Systems

State Individual Income Tax Rates

March 4, 2022
State and Local Issues: TaxVox

Is Ending the Grocery Tax on States’ Tax Cut Shopping List?

Despite some warnings of long-term fiscal risk, policymakers across the country continue to push big state tax cuts. While most are focused on income tax...
March 3, 2022Richard C. Auxier
: Daily Deduction

R&D, A Flat Tax, And A State Appeal For Capital Gains Tax

Will the R&D tax break return next week?
March 3, 2022Renu Zaretsky
: Daily Deduction

Ukraine Money In An Omnibus Spending Bill; Paying More At the Pump

The fate of a bipartisan Ukraine bill.
March 2, 2022Renu Zaretsky
State and Local Issues: TaxVox

Sales Tax Carveouts: They’re All About That Base

Sales tax exemption bills may be good political messaging, but they reflect misguided tax policy that can be arbitrary, complex, and unenforceable.
March 2, 2022Renu Zaretsky
: TaxVox

Higher Oil Prices Can Help Fuel Green Transition

Democratic leaders have pledged to combat higher petroleum prices due to Russia’s invasion of the Ukraine. Shying away from a Russian oil boycott , they...
March 1, 2022Thornton Matheson
: Daily Deduction

Reframing Biden’s Tax Plan And More State Tax Cuts

Biden: Tax cuts to help families and reduce the deficit.
March 1, 2022Renu Zaretsky
: Daily Deduction

A “Rescue,” Refunds, And The Tax Gap

Scott calls for “skin in the game,” but how much of whose skin?
February 28, 2022Renu Zaretsky
In fiscal year 2020, state governments across the United States raised $59 billion, or about 6% of total state-level tax revenue, from license taxes. Most of this revenue was from motor vehicle licenses and occupational and business licenses.
February 28, 2022
Individual Taxes: IndividualDeductions & ExemptionsPayroll

Taxation of Social Security Benefits

Current schedule of taxation of social security benefits by filing status and income, and changes effective in tax years 1984 and 1994.
February 25, 2022
Campaigns, Proposals, and Reforms: Distribution Tables by Income Percentile

T22-0002 – Enact Minimum Federal Individual Income Tax of $100 ($200 for Married Couples), by Expanded Cash Income Percentile, 2022

Table shows the change in federal tax burden, by expanded cash income percentile in 2022, from a proposal to enact a minimum federal individual income...
February 24, 2022
Campaigns, Proposals, and Reforms: Distribution Tables by Income Level

T22-0001 – Enact Minimum Federal Individual Income Tax of $100 ($200 for Married Couples), by Expanded Cash Income Level, 2022

Table shows the change in federal tax burden, by expanded cash income level in 2022, from a proposal to enact a minimum federal individual income...
February 24, 2022
Individual Taxes: Research report

An Evaluation of THRIVE East of the River

Findings from a Guaranteed Income Pilot during the COVID-19 Pandemic
Direct income supports (such as cash transfers) can stabilize households during crises and recoveries. They show special promise as an equitable means of assisting families of color with low incomes, who because of structural racism are disproportionately affected by health and economic hardships
February 24, 2022Emily Bramhall Olivia FiolPeace GwamElaine MaagEleanor NobleFay Walker
Individual Taxes: TaxVox

Scott’s “Skin In The Game” Plan Could Raise Taxes By $100 Billion in 2022, Mostly On Low- And Moderate-Income Households

Sen. Rick Scott (R-FL), who chairs the National Republican Senatorial Committee, has proposed an 11-point plan to “Rescue America” including this : “All Americans should...
February 24, 2022Howard Gleckman
Federal Budget and Economy: Virtual Event

The Prescription: Fiscal Policy for Today’s Economy with Doreen Greenwald

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...
February 24, 2022
: Research report

Taxing Business Incomes: Evidence from The Survey of Consumer Finances

More than half of economic income generated by closely held businesses does not appear on tax returns and that ratio has declined significantly over the past 25 years. Tax data alone provide incomplete insights about business income taxation because the incomes reported to the IRS are already
February 23, 2022William G. GaleSwati JoshiChristopher PulliamJohn Sabelhaus
: Brief

Taxing Business Incomes: Evidence from The Survey of Consumer Finances

In this policy brief, we explore the tax implications of the fact that most of the economic income generated by closely held businesses (that is, businesses other than corporations) in the United States does not show up on tax forms. Understanding the sources of this discrepancy—including tax laws
February 23, 2022William G. GaleSwati JoshiChristopher PulliamJohn Sabelhaus
State and Local Issues: TaxVox

The Misbegotten Bidding War Over Public Subsidies for Washington’s Football Team

Dan Snyder, owner of the newly-renamed Washington Commanders football team, reportedly wants to build a $1 billion stadium that would anchor $2 billion in commercial...
February 23, 2022Howard Gleckman
Individual Taxes: TaxVox

The Tax Gap’s Many Shades Of Gray

The “tax gap”—the difference between taxes owed to the government and taxes actually collected—often is equated with evasion . But the tax gap is more...
February 22, 2022Janet HoltzblattSteven M. Rosenthal
: Brief

The Tax Gap’s Many Shades of Gray (Brief)

The “tax gap”—the difference between the amount of taxes owed and the amount of tax actually paid—includes substantial gray areas where the law is ambiguous and the IRS’s determination of taxes owed is debatable. Understanding the tax gap’s shades of gray can inform discussions of tax law and
February 22, 2022Daniel HemelJanet HoltzblattSteven M. Rosenthal