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Federal Budget and Economy: TaxVox

James Mirrlees, A Public Finance Giant

Professor James Mirrlees passed away last month at age 82. The Nobel prize-winning economist was a leading public finance theorist who emphasized the optimal design...
September 20, 2018Mark J. Mazur
: Daily Deduction

Expectations, Soda, and Fast Food

Continuing to sow doubt about Tax Cut 2.0.
September 20, 2018Renu Zaretsky
: Daily Deduction

“Well, that escalated quickly.”

China retaliates for new US tariffs.
September 19, 2018Renu Zaretsky
: TaxVox

Despite the Tax Cuts and Jobs Act, the Federal Tax System is Becoming More Progressive Over Time

The Tax Policy Center’s newly released baseline tables tell a nuanced and somewhat paradoxical story. For over a decade, legislative changes and real income growth...
September 18, 2018Eric Toder
: Daily Deduction

There's bad news, and there's good views.

Trump says new China tariffs will begin next week.
September 18, 2018Renu Zaretsky
: TaxVox

OMB Review Of Tax Regulations: A ‘Dispassionate Second Opinion’ Or Needless Sand In The Gears?

The Treasury Department and the Office of Management and Budget (OMB) recently agreed that OMB would review many tax regulations before they are released, a...
September 17, 2018Leonard E. Burman
: Daily Deduction

Ten Percent Tariff on Toys?

Just in time for holiday shopping, new China tariffs to be announced by the US.
September 17, 2018Renu Zaretsky
Virtually all families hold some amount of financial assets, broadly defined. However, the median value of holdings for non-Hispanic Whites is 17 times greater than for Hispanics or Latinos, and 13 times greater than for non-Hispanic Blacks or African Americans.
September 17, 2018
Individual Taxes: Other Tables

T18-0134 - Estate Tax Returns and Liability Under Current Law and Pre-2017 Tax Act Law, 2017-2028

The baseline number of estate tax returns and liabilities under current law and Pre-2017 Tax Act Law from 2017 to 2028. Baseline is the law...
September 14, 2018
Individual Taxes: Other Tables

T18-0135 - Current Law Distribution of Gross Estate and Net Estate Tax by Size of Gross Estate, 2017

Current law baseline distribution of gross estate size and net estate tax by size of gross estate in 2017. Baseline is the law in place...
September 14, 2018
Individual Taxes: Other Tables

T18-0136 - Current Law Distribution of Gross Estate and Net Estate Tax by Size of Gross Estate, 2018

Current law baseline distribution of gross estate size and net estate tax by size of gross estate in 2018. Baseline is the law in place...
September 14, 2018
Individual Taxes: Other Tables

T18-0137 - Current Law Distribution of Gross Estate and Net Estate Tax by Size of Gross Estate, 2025

Current law baseline distribution of gross estate size and net estate tax by size of gross estate in 2025. Baseline is the law in place...
September 14, 2018
Individual Taxes: Other Tables

T18-0138 - Current Law Distribution of Gross Estate and Net Estate Tax by Size of Gross Estate, 2026

Current law baseline distribution of gross estate size and net estate tax by size of gross estate in 2026. Baseline is the law in place...
September 14, 2018
: Daily Deduction

Don’t Worry, Speed Up, and Review

House Ways & Means Committee OKs a key component of Tax Cuts 2.0.
September 14, 2018Renu Zaretsky
: Daily Deduction

Extensions, Calculations, and Collections

TPC estimates the revenue and distributional effects of Tax Cuts 2.0.
September 13, 2018Renu Zaretsky
Campaigns, Proposals, and Reforms: Revenue Tables

T18-0131 - H.R. 6760 As Introduced; The Protecting Family and Small Business Tax Cuts Act of 2018; Impact on Tax Revenue ($ billions), 2019-2038; Baseline: Current Law

Table shows the revenue effects of H.R. 6760, The Protecting Family and Small Business Tax Cuts Act of 2018, as introduced. Baseline is the law...
September 12, 2018
Campaigns, Proposals, and Reforms: Distribution Tables by Dollar Income Class

T18-0132 - H.R. 6760 As Introduced; The Protecting Family and Small Business Tax Cuts Act of 2018; Baseline: Current Law; Distribution of Federal Tax Change by Expanded Cash Income Level, 2026

Table shows the distributional results by expanded cash income level in 2026 of H.R. 6760, The Protecting Family and Small Business Tax Cuts Act of...
September 12, 2018
Campaigns, Proposals, and Reforms: Distribution Tables by Percentile

T18-0133 - H.R. 6760 As Introduced; The Protecting Family and Small Business Tax Cuts Act of 2018; Baseline: Current Law; Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2026

Table shows the distributional results by expanded cash income percentile in 2026 of H.R. 6760, The Protecting Family and Small Business Tax Cuts Act of...
September 12, 2018
Individual Taxes: TaxVox

Extending The TCJA Would Cut Revenue By $3.8 Trillion Through 2038, Mostly Benefit The Well-Off

The House Republican plan to make permanent the individual income and estate tax provisions of the Tax Cuts and Jobs Act (TCJA) would add almost...
September 12, 2018Howard Gleckman
: Daily Deduction

Price Tags and Services

What would Tax Cut 2.0 cost?
September 12, 2018Renu Zaretsky
Individual Taxes: Brief

Analysis of the Protecting Family and Small Business Tax Cuts Act of 2018

The Protecting Family and Small Business Tax Cuts Act of 2018 extends major individual income and estate tax provisions from 2017’s Tax Cuts and Jobs Act that are currently scheduled to expire at the end of 2025. The bill would reduce federal revenues by $631 billion within the budget window (
September 12, 2018Jeffrey RohalyJoseph RosenbergBenjamin R. PageDaniel Berger
: Daily Deduction

Votes, Rules, and an Explanation

Due this week on the Hill: Tax Cut 2.0.
September 11, 2018Renu Zaretsky
: Daily Deduction

It's all uphill from here...

Tax Reform 2.0? “Um… No,” say some campaigning Republicans.
September 10, 2018Renu Zaretsky
State gasoline taxes ranged from 9 to 58 cents per gallon as of January 2018. Three states (California, Pennsylvania, Washington) had taxes exceeding 40 cents per gallon while Alaska had the lowest tax rate at 9 cents per gallon.
September 10, 2018
Campaigns, Proposals, and Reforms: TaxVox

Amazon Isn’t A Bad Employer, But Stop-BEZOS Is A Bad Bill

Bernie Sanders (I-VT) and Ro Khanna (D-CA) just introduced the ‘‘ Stop Bad Employers by Zeroing Out Subsidies Act ’’ (or Stop-BEZOS) that would punish...
September 7, 2018Leonard E. Burman

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