: Daily Deduction

'Twas the Night Before Recess

And all through the House… Congress formally approved—and reluctantly changed the formal name—of the Tax Cuts and Jobs Act yesterday.
December 21, 2017Renu Zaretsky
: Daily Deduction

TCJA: One more step to go, with fallout ahead

The House and Senate passed the Tax Cuts and Jobs Act but… There turns out to be one more step.
December 20, 2017Renu Zaretsky
Campaigns, Proposals, and Reforms: TaxVox

Did The GOP Just Open The Door To A Carbon Tax In 2025?

Supporters of the Tax Cuts and Jobs Act like to describe it as a once-in-a-generation tax overhaul. It is arguably true that it is the...
December 20, 2017Howard Gleckman
Campaigns, Proposals, and Reforms: Brief

Macroeconomic Analysis of the Tax Cuts And Jobs Act

The Tax Policy Center has released an analysis of the macroeconomic effects of the Tax Cuts and Jobs Act as passed by Congress. We find the legislation would boost US gross domestic product (GDP) 0.8 percent in 2018 and would have little effect on GDP in 2027 or 2037. The resulting increase in
December 20, 2017Benjamin R. PageJoseph RosenbergJames R. NunnsJeffrey RohalyDaniel Berger
: Daily Deduction

Sprinting to the Finish

A vote today on the compromise TCJA. The House is set to approve the final version of the Tax Cuts and Jobs Act today. The Senate is expected to follow shortly thereafter, perhaps today or tomorrow.
December 19, 2017Renu Zaretsky
Campaigns, Proposals, and Reforms: TaxVox

The TCJA Would Cut Taxes By An Average of $1,600 in 2018, With Most Benefits Going To Those Making $300,000-Plus

The conference agreement on the Tax Cuts and Jobs Act would reduce taxes by about $1,600 on average in 2018, with the biggest benefit going...
December 18, 2017Howard Gleckman
Campaigns, Proposals, and Reforms: Other Tables

T17-0323 - Effective Marginal Individual Income Tax Rates (EMTR) on Wages and Salaries Under Current Law and Conference Agreement: The Tax Cuts and Jobs Act; By Expanded Cash Income Level, 2018

Table shows the effect marginal tax rates on wages and salaries under current law and the Conference Agreement for the Tax Cuts and Jobs Act...
December 18, 2017
Campaigns, Proposals, and Reforms: Other Tables

T17-0324 - Effective Marginal Individual Income Tax Rates (EMTR) on Wages and Salaries Under Current Law and Conference Agreement: The Tax Cuts and Jobs Act; By Expanded Cash Income Percentile, 2018

Table shows the effect marginal tax rates on wages and salaries under current law and the Conference Agreement for the Tax Cuts and Jobs Act...
December 18, 2017
Campaigns, Proposals, and Reforms: Other Tables

T17-0325 - Effective Marginal Individual Income Tax Rates (EMTR) on Capital Income Under Current Law and Conference Agreement: The Tax Cuts and Jobs Act; By Expanded Cash Income Level, 2018

Table shows the effect marginal tax rates on capital income under current law and the Conference Agreement for the Tax Cuts and Jobs Act by...
December 18, 2017
Campaigns, Proposals, and Reforms: Other Tables

T17-0326 - Effective Marginal Individual Income Tax Rates (EMTR) on Capital Income Under Current Law and Conference Agreement: The Tax Cuts and Jobs Act; By Expanded Cash Income Percentile, 2018

Table shows the effect marginal tax rates on capital income under current law and the Conference Agreement for the Tax Cuts and Jobs Act by...
December 18, 2017
Campaigns, Proposals, and Reforms: Other Tables

T17-0327 - Effective Marginal Individual Income Tax Rates (EMTR) on Wages and Salaries Under Current Law and Conference Agreement: The Tax Cuts and Jobs Act; By Expanded Cash Income Level, 2025

Table shows the effect marginal tax rates on wages and salaries under current law and the Conference Agreement for the Tax Cuts and Jobs Act...
December 18, 2017
Campaigns, Proposals, and Reforms: Other Tables

T17-0328 - Effective Marginal Individual Income Tax Rates (EMTR) on Wages and Salaries Under Current Law and Conference Agreement: The Tax Cuts and Jobs Act; By Expanded Cash Income Percentile, 2025

Table shows the effect marginal tax rates on wages and salaries under current law and the Conference Agreement for the Tax Cuts and Jobs Act...
December 18, 2017
Campaigns, Proposals, and Reforms: Other Tables

T17-0329 - Effective Marginal Individual Income Tax Rates (EMTR) on Capital Income Under Current Law and Conference Agreement: The Tax Cuts and Jobs Act; By Expanded Cash Income Level, 2025

Table shows the effect marginal tax rates on capital income under current law and the Conference Agreement for the Tax Cuts and Jobs Act by...
December 18, 2017
Campaigns, Proposals, and Reforms: Other Tables

T17-0330 - Effective Marginal Individual Income Tax Rates (EMTR) on Capital Income Under Current Law and Conference Agreement: The Tax Cuts and Jobs Act; By Expanded Cash Income Percentile, 2025

Table shows the effect marginal tax rates on capital income under current law and the Conference Agreement for the Tax Cuts and Jobs Act by...
December 18, 2017
Campaigns, Proposals, and Reforms: Other Tables

T17-0331 - Effective Marginal Individual Income Tax Rates (EMTR) on Wages and Salaries Under Current Law and Conference Agreement: The Tax Cuts and Jobs Act; By Expanded Cash Income Level, 2027

Table shows the effect marginal tax rates on wages and salaries under current law and the Conference Agreement for the Tax Cuts and Jobs Act...
December 18, 2017
Campaigns, Proposals, and Reforms: Other Tables

T17-0332 - Effective Marginal Individual Income Tax Rates (EMTR) on Wages and Salaries Under Current Law and Conference Agreement: The Tax Cuts and Jobs Act; By Expanded Cash Income Percentile, 2027

Table shows the effect marginal tax rates on wages and salaries under current law and the Conference Agreement for the Tax Cuts and Jobs Act...
December 18, 2017
Campaigns, Proposals, and Reforms: Other Tables

T17-0333 - Effective Marginal Individual Income Tax Rates (EMTR) on Capital Income Under Current Law and Conference Agreement: The Tax Cuts and Jobs Act; By Expanded Cash Income Level, 2027

Table shows the effect marginal tax rates on capital income under current law and the Conference Agreement for the Tax Cuts and Jobs Act by...
December 18, 2017
Campaigns, Proposals, and Reforms: Other Tables

T17-0334 - Effective Marginal Individual Income Tax Rates (EMTR) on Capital Income Under Current Law and Conference Agreement: The Tax Cuts and Jobs Act; By Expanded Cash Income Percentile, 2027

Table shows the effect marginal tax rates on capital income under current law and the Conference Agreement for the Tax Cuts and Jobs Act by...
December 18, 2017
Campaigns, Proposals, and Reforms: Distribution Tables by Dollar Income Class

T17-0311 - Conference Agreement: The Tax Cuts and Jobs Act; Baseline: Current Law; Distribution of Federal Tax Change by Expanded Cash Income Level, 2018

Tables show the distributional results of the Conference Agreement for the Tax Cuts and Jobs Act by Expanded Cash Income Level in 2018.
December 18, 2017
Campaigns, Proposals, and Reforms: Distribution Tables by Percentile

T17-0312 - Conference Agreement: The Tax Cuts and Jobs Act; Baseline: Current Law; Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2018

Tables show the distributional results of the Conference Agreement for the Tax Cuts and Jobs Act by Expanded Cash Income Percentile in 2018.
December 18, 2017
Campaigns, Proposals, and Reforms: Distribution Tables by Dollar Income Class

T17-0313 - Conference Agreement: The Tax Cuts and Jobs Act; Baseline: Current Law; Distribution of Federal Tax Change by Expanded Cash Income Level, 2025

Tables show the distributional results of the Conference Agreement for the Tax Cuts and Jobs Act by Expanded Cash Income Level in 2025.
December 18, 2017
Campaigns, Proposals, and Reforms: Distribution Tables by Percentile

T17-0314 - Conference Agreement: The Tax Cuts and Jobs Act; Baseline: Current Law; Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2025

Tables show the distributional results of the Conference Agreement for the Tax Cuts and Jobs Act by Expanded Cash Income Percentile in 2025.
December 18, 2017
Campaigns, Proposals, and Reforms: Distribution Tables by Dollar Income Class

T17-0315 - Conference Agreement: The Tax Cuts and Jobs Act; Baseline: Current Law; Distribution of Federal Tax Change by Expanded Cash Income Level, 2027

Tables show the distributional results of the Conference Agreement for the Tax Cuts and Jobs Act by Expanded Cash Income Level in 2027.
December 18, 2017
Campaigns, Proposals, and Reforms: Distribution Tables by Percentile

T17-0316 - Conference Agreement: The Tax Cuts and Jobs Act; Baseline: Current Law; Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2027

Tables show the distributional results of the Conference Agreement for the Tax Cuts and Jobs Act by Expanded Cash Income Percentile in 2027.
December 18, 2017
Campaigns, Proposals, and Reforms: Distribution Tables by Dollar Income Class

T17-0317 - Major Provisions in Conference Agreement: The Tax Cuts and Jobs Act; Tax Units with a Tax Increase or Tax Cut, by Expanded Cash Income Level, 2018; Baseline: Current Law

Table shows tax units with a tax increase or tax cut under the major provision in the Conference Agreement for the Tax Cuts and Jobs...
December 18, 2017