Campaigns, Proposals, and Reforms: Other Tables

T17-0246 - Effective Marginal Individual Income Tax Rates (EMTR) on Wages and Salaries Under Current Law and Chairman's Amendment in the Nature of a Substitute to H.R. 1, 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 Tax Cuts and Jobs Act by Expanded Cash Income...
November 8, 2017
Campaigns, Proposals, and Reforms: Other Tables

T17-0247 - Effective Marginal Individual Income Tax Rates (EMTR) on Capital Income Under Current Law and Chairman's Amendment in the Nature of a Substitute to H.R. 1, 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 Tax Cuts and Jobs Act by Expanded Cash Income Level...
November 8, 2017
Campaigns, Proposals, and Reforms: Other Tables

T17-0248 - Effective Marginal Individual Income Tax Rates (EMTR) on Capital Income Under Current Law and Chairman's Amendment in the Nature of a Substitute to H.R. 1, 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 Tax Cuts and Jobs Act by Expanded Cash Income Percentile...
November 8, 2017
Campaigns, Proposals, and Reforms: TaxVox

Ways & Means Bill Would Cut Middle-Income Taxes Modestly in 2018, Even Less in 2027

Despite President Trump’s repeated promise that an upcoming tax cut would be the biggest in US history, the proposal now being considered by the House...
November 8, 2017Howard Gleckman
Campaigns, Proposals, and Reforms: Brief

Preliminary Distributional Analysis of the "Tax Cuts and Jobs Act"

NOTE: This is a corrected version of the analysis originally published November 6, 2017. The Tax Policy Center has produced preliminary distributional estimates of the Tax Cuts and Jobs Act as introduced on November 3, 2017. We find the legislation would reduce taxes on average for all income
November 8, 2017TPC Staff
Campaigns, Proposals, and Reforms: TaxVox

Retracting And Correcting Estimates

TPC staff found an error in the preliminary distributional tables and analysis of the Tax Cuts and Jobs Act (TCJA) that we released on November 6, 2017.
November 8, 2017Mark J. Mazur
: Daily Deduction

“Time is on my side…”

“Now you were all saying…” The Joint Committee on Taxation released a new analysis of the House GOP’s Tax Cuts and Jobs Act (TCJA) yesterday that estimates 8 percent of households would pay at least $100 more in taxes than under current law in 2019, while 61 percent would get a tax cut of more than $100.
November 8, 2017Renu Zaretsky
: TaxVox

The 25-Percent Rate for Pass-Through Businesses Helps Rich Investors, Not “Small” Businesses

House Ways & Means Committee Chairman Kevin Brady’s recently-introduced tax plan promises to cap the income tax rate for income generated by pass-through businesses at...
November 8, 2017Steven M. Rosenthal
Campaigns, Proposals, and Reforms

TPC Presents Distinguished Speaker Ron Wyden

The event will be webcast live on this page. The Urban-Brookings Tax Policy Center (TPC) is pleased to present US senator Ron Wyden of Oregon,...
November 7, 2017
: Daily Deduction

Marking up a tax bill in pencil, not ink.

The House Ways & Means Committee began its mark-up of the GOP’s Tax Cuts and Jobs Act yesterday.
November 7, 2017Renu Zaretsky
: TaxVox

Who Would Benefit If Congress Keeps the Property Tax Deduction

The Tax Cut and Jobs Act (TCJA), which the House Ways & Means Committee will consider this week, would generally disallow the state and local...
November 6, 2017Frank SammartinoKim S. Rueben
: TaxVox

Gutting the Mortgage Interest Deduction

The new bill introduced by the House Ways and Means Committee would significantly downsize the mortgage interest deduction. Although this is sure to cause controversy,...
November 6, 2017William G. Gale
: TaxVox

Everyone Should Cheer the End of Tax-Exempt Bonds for Sports Stadiums

The tax bill that House Ways and Means Chairman Brady rolled out on Thursday will generate lots of partisan and ideological fights over the next...
November 6, 2017Richard C. Auxier
: Daily Deduction

The House GOP tax mark-up begins today. How will it end?

The House Ways & Means Committee marks up the House tax bill. The panel plans to get started today, though the bill remains a moving target.
November 6, 2017Renu Zaretsky
The estate tax exemption's real value has grown markedly over time (to nearly $5.5M in 2016). Most of the increase has occurred since 2000.
November 6, 2017
: TaxVox

Nine Things to Know about the House GOP Tax Plan

The House Ways and Means committee released its long-anticipated tax proposal yesterday, the Tax Cut and Jobs Act (TCJA). The plan offers a sweeping set...
November 3, 2017William G. Gale
: Daily Deduction

The GOP House tax bill is not tax reform, because tax reform is hard.

It’s mostly a business tax cut, with many winners and losers. As TPC’s Howard Gleckman explains, the new bill released yesterday by the House GOP is basically a mid-sized tax cut--aimed mostly at businesses and their owners.
November 3, 2017Renu Zaretsky
Campaigns, Proposals, and Reforms: TaxVox

The House GOP Tax Bill Is Mostly A Business Tax Cut That Will Create Both Winners and Losers

House Republicans made their tax bill public today. Boiled down to the basics, it is a mid-sized tax cut--aimed mostly at businesses and their owners...
November 2, 2017Howard Gleckman
Individual Taxes: Distribution Tables by Percentile

T17-0232 - Home Mortgage Interest Benefits Under Current Law and Unified Framework by Expanded Cash Income Percentile, 2018

Table shows the distribution of home mortgage interest benefit under current law and the unified framework by expanded cash income percentile for 2018.
November 2, 2017
: Daily Deduction

“The waiting is the hardest part…”

“Every day you see one more card.” What we know so far: The House tax bill still is expected to be released today, through Politico reported last night that it could be delayed yet again.
November 2, 2017Renu Zaretsky
: TaxVox

Keeping a 39.6 Percent Tax Bracket May Create More Problems Than It Fixes

House Speaker Paul Ryan (R-WI) says the House GOP tax bill will retain the top 39.6 percent individual income tax rate for taxpayers with very...
November 1, 2017Joseph Rosenberg
: TaxVox

Why Tax Reform Flounders: The Case Of Doubling The Standard Deduction

Do you want to know why tax reform is so hard ? Consider one seemingly simple idea that has been floated by President Trump and...
November 1, 2017C. Eugene Steuerle
State and Local Issues: TaxVox

Transformational Brownfield of Dreams in Motor City

If he builds it, will they come?
How is tax policy shaping the revitalization of two Michigan cities? Last month, the Tax Hound considered Benton Harbor. This month, she takes a look at Detroit.
November 1, 2017Renu Zaretsky
: Daily Deduction

There’s still time to guess about the GOP's tax bill.

Still scrambling to produce a draft bill. House GOP leaders promised they’d roll out a tax bill today, but they are still battling over details and now plan to release their plan tomorrow.
November 1, 2017Renu Zaretsky
Individual Taxes: TaxVox

Beer Is Not A Metaphor For Tax Fairness

Yesterday my twitter feed exploded with cranky tweets about White House Press Secretary Sarah Sanders’s press briefing, which started with an anecdote about bar tabs...
October 31, 2017Leonard E. Burman