: TaxVox

The TCJA Eliminated Personal Exemptions. Why Are States Still Using Them?

A key provision of 2017 Tax Cuts and Jobs Act (TCJA) was the elimination of the personal exemption. The change has a major effect on...
December 17, 2018Richard C. Auxier
: Daily Deduction

Digging in Heels, And Lone Star News

Time for the annual pre-Christmas budget posturing.
December 17, 2018Renu Zaretsky
Since the 2000s, the national debt held by the public has increased at a rapid rate, growing from 34% of GDP in 2000 to 77% of GDP in 2017.
December 17, 2018
: Daily Deduction

The BEAT, Revenue-raisers, Food and Drink, and an Update

Treasury issues new BEAT rules.
December 14, 2018Renu Zaretsky
: TaxVox

TPC Updates Its Online Briefing Book

Looking for a quick reference that explains how the tax code treats families with children? Or how it taxes multinational corporations? Maybe you want to...
December 13, 2018Frank Sammartino
: Daily Deduction

Subsidies, Spending, and a Surcharge?

More opportunities for Opportunity Zones.
December 13, 2018Renu Zaretsky
: TaxVox

How Should Government Return Carbon Taxes To Households?

Carbon dividends are the hottest idea in climate policy. A diverse mix of progressive and conservative voices are backing the idea of returning carbon tax...
December 12, 2018Donald Marron
: Daily Deduction

Confirmation, Reminders, and Promises

Shut-down drama.
December 12, 2018Renu Zaretsky
Business Taxes: Research report

How to Design Carbon Dividends

A robust carbon tax would generate considerable revenue. Some carbon tax advocates have suggested returning those revenues to Americans through direct payments, often called carbon dividends. We examine how to design these dividends considering two, sometimes conflicting, principles. Carbon
December 11, 2018Donald MarronElaine Maag
: Daily Deduction

Revisions, Definitions, Tensions, and Delays

Rewriting the lame duck tax cut.
December 11, 2018Renu Zaretsky
Individual Taxes: Other Tables

T18-0254 - Number of Tax Units by Tax Bracket and Presence of Children, 2025

Distribution of tax units by tax bracket, presence of children and marital status under a current law baseline as of December 10, 2018, for calendar year 2025.
December 10, 2018
Individual Taxes: Other Tables

T18-0255 - Number of Tax Units by Tax Bracket and Presence of Children, 2026

Distribution of tax units by tax bracket, presence of children and marital status under a current law baseline as of December 10, 2018, for calendar year 2026.
December 10, 2018
Individual Taxes: Other Tables

T18-0256 - Number of Tax Units by Tax Bracket and Presence of Children, 2028

Distribution of tax units by tax bracket, presence of children and marital status under a current law baseline as of December 10, 2018, for calendar year 2028.
December 10, 2018
Individual Taxes: Other Tables

T18-0252 - Number of Tax Units by Tax Bracket and Presence of Children, 2018

Distribution of tax units by tax bracket, presence of children and marital status under a current law baseline as of December 10, 2018, for calendar year 2018.
December 10, 2018
Individual Taxes: Other Tables

T18-0253 - Number of Tax Units by Tax Bracket and Presence of Children, 2019

Distribution of tax units by tax bracket, presence of children and marital status under a current law baseline as of December 10, 2018, for calendar year 2019.
December 10, 2018
Individual Taxes: Other Tables

T18-0251 - Number of Tax Units by Tax Bracket and Presence of Children, 2017

Distribution of tax units by tax bracket, presence of children and marital status under a current law baseline as of December 10, 2018, for calendar year 2017.
December 10, 2018
: Daily Deduction

“The quality of mercy is not strained.”

“It droppeth as the gentle rain from heaven..." or a letter from a broad coalition to Congress...
December 10, 2018Renu Zaretsky
Individual Taxes: TaxVox

Who Is Middle Class Anyway?

Everyone, it seems, says they want to cut taxes for the middle class. President Trump promised such tax relief in the weeks before the election...
December 10, 2018Howard Gleckman
The top marginal individual income tax rate is currently 37 percent. In the last 105 years, since the individual income tax was enacted, this rate has varied from 7 percent between 1913 and 1915 to over 90 percent during World War II and the Korean War.
December 10, 2018
Individual Taxes: TaxVox

For charitable giving, ’tis the season… But will it still be, post-TCJA?

Is feeling good, for goodness’ sake, the only reason we give to charities?
December 5, 2018Renu Zaretsky
Campaigns, Proposals, and Reforms: TaxVox

Reading President Bush’s Lips

George H.W. Bush probably gave a thousand speeches in his life. But many people remember just six words.
December 5, 2018Howard Gleckman
: Daily Deduction

Pauses, Closer Looks, and Warnings

No tax bill, no government shutdown this week.
December 4, 2018Renu Zaretsky
: TaxVox

TPC’s New Interactive Data Tool Shows EITC Benefits in Communities Throughout the U.S.

The earned income tax credit (EITC) is a highly effective policy for fighting poverty that has garnered widespread praise from both Democrats and Republicans. In...
December 3, 2018Richard C. Auxier
Business Taxes: Distribution Tables by Income Level

T18-0246 - Distribution of Business Income, by Expanded Cash Income Level; Current Law, 2018

Distribution of tax units with business income by expanded cash income level, under current law as of December 3, 2018, calendar year 2018.
December 3, 2018
Business Taxes: Distribution Tables by Income Percentile

T18-0247 - Distribution of Business Income, by Expanded Cash Income Percentile; Current Law, 2018

Distribution of tax units with business income by expanded cash income percentile, under current as of December 3, 2018, calendar year 2018.
December 3, 2018