: Daily Deduction

Abandoning Ship for a Fluid Framework

The GOP gives up on ACA repeal. Senate Republicans, without 50 votes to pass the Graham-Cassidy health care bill on a fast track, withdrew the legislation from consideration. On to a tax bill.
September 27, 2017Renu Zaretsky
Campaigns, Proposals, and Reforms: Research report

A Preliminary Analysis of the Unified Framework

This analysis was updated on October 27, 2017 to incorporate dynamic scoring results. The Tax Policy Center has produced preliminary estimates of the potential impact of proposals included in the “Unified Framework for Fixing Our Broken Tax Code.” We find they would reduce federal revenue by $2.4
September 27, 2017TPC Staff
: Daily Deduction

Tomorrow: The Big Six Reveal

Tax plan tomorrow? Rumor is the White House and congressional GOP leaders will unveil their tax plan.
September 26, 2017Renu Zaretsky
Individual Taxes: TaxVox

A Tax Break on Repatriated Earnings Will Not Trickle Down to U.S. Workers

Top aides to President Donald Trump argue that tax relief for the accumulated foreign earnings of US-based multinational corporations would be a boon for US...
September 25, 2017Steven M. Rosenthal
: Daily Deduction

Proposed Cuts, Promised Objectives

The big tax reveal…or another failed launch? This is supposed to be the week that President Trump and congressional Republicans roll out their latest tax reform plan.
September 25, 2017Renu Zaretsky
U.S federal, state, and local taxes totaled 26.4 percent of GDP in 2015, nearly 8 percentage points below the 34.3 percent OECD average.
September 25, 2017
: TaxVox

If Tax Cuts Boost Foreign Investment, The Income Boost May Be Moderate

In principle, well designed tax cuts can increase US investment and lending by foreigners which can, in turn, increase the aggregate US capital stock and,...
September 22, 2017Benjamin R. Page
: Daily Deduction

Thirty Days Hath September…

A vote, a vote, their kingdom for a vote…. Senate Republicans continue their push to pass the Graham-Cassidy bill before September 30, after which date they’d require Democratic support.
September 22, 2017Renu Zaretsky
: Daily Deduction

Choices, Promises, and Confusion

Americans still want to tax the fella behind the tree. As part of a budget-cutting exercise, a new online survey finds that a majority of Americans would raise taxes on the top 5 percent of earners.
September 21, 2017Renu Zaretsky
Campaigns, Proposals, and Reforms: Journal Article

The U.S. Needs Tax Reform, Not Tax Cuts

Eric Toder distinguishes the difference between tax reform and tax cuts and in this article, originally published on August 22, 2017 in the Harvard Business Review online.
September 21, 2017Eric Toder
Campaigns, Proposals, and Reforms: TaxVox

Bernie Sanders and Donald Trump Have Something In Common: Big Dreams They Can’t Pay For

Sen. Bernie Sanders (I-VT) and President Trump have more in common than either would likely admit. For example, both have grand, ambitious plans they cannot...
September 20, 2017Howard Gleckman
: Daily Deduction

"Look into your heart..."

“With a positive mind.” Another day, another trial balloon, or two.
September 20, 2017Renu Zaretsky
: TaxVox

Eight Thoughts on Business Tax Reform

Today I had the chance to testify before the Senate Finance Committee on business tax reform. Here are my opening remarks. You can find my...
September 19, 2017Donald Marron
: Daily Deduction

Once more unto the breach, dear friends…

Before tax reform, one more attempt at ACA repeal and replace.
September 19, 2017Renu Zaretsky
Business Taxes: Testimony

Business Tax Reform

Donald Marron, Institute Fellow at the Urban-Brookings Tax Policy Center, testified before the US Senate Committee on Finance as part of the hearing "Business Tax Reform." Marron presented seven main points about business tax reform based on the proposals that have been discussed by the Congress,
September 19, 2017Donald Marron
Federal Budget and Economy: TaxVox

Tax Reform Affects The Level Of Economic Output -- Not The Long-Run Growth Rate

President Trump and his top economic advisers often argue that a major tax reform would permanently boost the nation’s economic growth rate to 3 percent...
September 18, 2017Benjamin R. Page
: Daily Deduction

Biting the Hand that Feeds You

The President seeks Democratic votes on tax reform. For now.
September 18, 2017Renu Zaretsky
The number of childless households headed by a person over 65 increased 77 percent between 1979 and 2013, from 16.5 million to 29.2 million.
September 18, 2017
Campaigns, Proposals, and Reforms: Distribution Tables by Dollar Income Class

T17-0221 - Revenue and Distributionally Neutral Proposal to Lower Individual and Corporate Income Tax Rates and Repeal Certain Tax Expenditures; Distribution of Federal Tax Change by Expanded Cash Income Level, 2027

Table shows the distributional effect by expanded cash income level of a revenue and distributionally neutral proposal that would: repeal the Net Investment Income Tax...
September 15, 2017
Campaigns, Proposals, and Reforms: Distribution Tables by Percentile

T17-0222 - Revenue and Distributionally Neutral Proposal to Lower Individual and Corporate Income Tax Rates and Repeal Certain Tax Expenditures; Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2027

Table shows the distributional effect by expanded cash income percentile of a revenue and distributionally neutral proposal that would: repeal the Net Investment Income Tax...
September 15, 2017
Campaigns, Proposals, and Reforms: Revenue Tables

T17-0215 - Revenue Neutral Proposal to Lower Individual and Corporate Income Tax Rates and Repeal Certain Tax Expenditures; Impact on Tax Revenue, 2018-37 by Fiscal Year

Table shows the revenue effect of a revenue neutral proposal that would: repeal the Net Investment Income Tax (NIIT), individual and corporate alternative minimum tax...
September 15, 2017
Campaigns, Proposals, and Reforms: Revenue Tables

T17-0216 - Revenue and Distributionally Neutral Proposal to Lower Individual and Corporate Income Tax Rates and Repeal Certain Tax Expenditures; Impact on Tax Revenue, 2018-37 by Fiscal Year

Table shows the revenue effect of a revenue and distributionally neutral proposal that would: repeal the Net Investment Income Tax (NIIT), individual and corporate alternative...
September 15, 2017
Campaigns, Proposals, and Reforms: Distribution Tables by Dollar Income Class

T17-0217 - Revenue Neutral Proposal to Lower Individual and Corporate Income Tax Rates and Repeal Tax Expenditures; Distribution of Federal Tax Change by Expanded Cash Income Level, 2027

Table shows the distributional effect by expanded cash income level of a revenue neutral proposal that would: repeal the Net Investment Income Tax (NIIT), individual...
September 15, 2017
Campaigns, Proposals, and Reforms: Distribution Tables by Percentile

T17-0218 - Revenue Neutral Proposal to Lower Individual and Corporate Income Tax Rates and Repeal Tax Expenditures; Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2027

Table shows the distributional effect by expanded cash income percentile of a revenue neutral proposal that would: repeal the Net Investment Income Tax (NIIT), individual...
September 15, 2017
Campaigns, Proposals, and Reforms: Distribution Tables by Dollar Income Class

T17-0219 - Revenue Neutral Proposal to Lower Individual and Corporate Income Tax Rates and Repeal Certain Tax Expenditures; Distribution of Federal Tax Change by Expanded Cash Income Level, 2027

Table shows the distributional effect by expanded cash income level of a revenue neutral proposal that would: repeal the Net Investment Income Tax (NIIT), individual...
September 15, 2017