Individual Taxes: Distribution Tables by Percentile

T17-0200 - Guaranteed Retirement Account with $207 Credit (Present-Value Approach), Baseline: Current Law, Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2018

Distribution of tax burden change from a proposal to establish guaranteed retirement accounts with $207 credit against current law baseline by expanded cash income percentile,...
August 23, 2017
Individual Taxes: Revenue Tables

T17-0195 - Net Revenue Effects of Guaranteed Retirement Account with $600 Credit, Baseline: Current Law, Impact on Tax Revenue, 2018-27

Impact on tax revenue from a proposal to establish guaranteed retirement accounts with $600 credit against current law baseline, fiscal years 2018 to 2027. The...
August 23, 2017
Individual Taxes: Revenue Tables

T17-0196 - Net Revenue Effects of Guaranteed Retirement Account with $207 Credit, Baseline: Current Law, Impact on Tax Revenue, 2018-27

Impact on tax revenue from a proposal to establish guaranteed retirement accounts with $207 credit against current law baseline, fiscal years 2018 to 2027. The...
August 23, 2017
Individual Taxes: Distribution Tables by Dollar Income Class

T17-0197 - Guaranteed Retirement Account with $600 Credit (Present-Value Approach), Baseline: Current Law, Distribution of Federal Tax Change by Expanded Cash Income Level, 2018

Distribution of tax burden change from a proposal to establish guaranteed retirement accounts with $600 credit against current law baseline by expanded cash income level,...
August 23, 2017
Federal Budget and Economy: Research report

Estimates of a Proposal to Establish Guaranteed Retirement Accounts, Financed by Reduced Limits on Current Law Contributions to Defined Contribution Retirement Saving Plans

The Tax Policy Center (TPC) prepared revenue and distributional estimates of a proposal to replace the current tax benefits for defined contribution (DC) qualified retirement plans with a new Guaranteed Retirement Account (GRA). TPC estimates that the proposal would reduce federal income and
August 23, 2017Eric ToderSurachai Khitatrakun
Campaigns, Proposals, and Reforms: TaxVox

Yes, Congress Could Tax Business At 15 Percent In A Revenue-, Distributionally-, and Economically-Neutral Way.

The tax outline proposed by President Trump last April, built around a 15 percent business tax rate, has three deep flaws: It could add more...
August 22, 2017Howard Gleckman
Business Taxes: Research report

Neutral Tax Reform with 15 Percent Business Income Tax Rate

The Trump administration has announced the broad outlines of a tax reform plan that contains many provisions similar to those in the House GOP tax reform “blueprint” announced last year, but there are fundamental differences in the provisions affecting businesses and investors. While different, in
August 22, 2017James R. Nunns
Campaigns, Proposals, and Reforms: TaxVox

Tax Reform: Start With The Fundamentals

For the umpteenth time, Congress and the Trump Administration are going back to the tax reform drawing board , just as they have had to...
August 21, 2017C. Eugene Steuerle
The 10% of households with the highest incomes bore over 50% of federal tax liabilities each year from 2004-2013.
August 21, 2017
: Daily Deduction

Moving on to Tax Reform… or Not

Will the Charlottesville fallout dim prospects for a tax bill? House Ways & Means Chair Kevin Brady says President Trump is crucial to reform efforts, but some in the GOP and many in the business community are distancing themselves from the White House.
August 21, 2017Renu Zaretsky
State and Local Issues: TaxVox

Should Online Platforms Collect Sales Tax For Third-Party Sellers?

Should Online Platforms Collect Sales Tax For Third-Party Sellers? Yesterday morning (at 3:12 AM) President Trump Tweeted this: "Amazon is doing great damage to tax...
August 17, 2017Howard Gleckman
State and Local Issues: TaxVox

State Liquor Tax Rates Are Stuck In The Mud

With state governments struggling with budget problems , governors and their legislatures are searching for ways to raise funds without raising voter ire. Unlike personal...
August 16, 2017John Iselin
Campaigns, Proposals, and Reforms: TaxVox

Paying for Tax Cuts

Policy makers often act like tax cuts are free lunches that can make everyone better off. But over the long run, tax cuts must be...
August 15, 2017William G. Gale
Campaigns, Proposals, and Reforms: Research report

Cutting Taxes and Making Future Americans Pay for It: How Trump’s Tax Cuts Could Hurt Many Households

Tax cuts often look like “free lunches” for taxpayers, but they eventually have to be paid for with other tax increases or spending cuts. We examine the distributional effects – with and without financing – of a tax plan consistent with the outline the Trump Administration produced in April. When
August 15, 2017William G. GaleSurachai KhitatrakunAaron Krupkin
: Daily Deduction

Slow and Steady Wins the Race?

From the White House in September: A tax plan in three- to five-pages.
August 14, 2017Renu Zaretsky
In constant 2014 dollars, state and local tobacco tax revenue peaked at $19 billion in 2012.
August 14, 2017
: TaxVox

The 3-2-1 on economic growth: Hope for 3, plan for 2, pray it isn’t 1

How fast will the US economy grow? When mainstream forecasters consult their crystal balls, they typically see real economic growth around 2 percent annually over...
August 10, 2017Donald Marron
Campaigns, Proposals, and Reforms: TaxVox

Why We Should Stick With A 10-Year Budget Window

The Congressional Budget Office is always under pressure to do something differently, usually by lawmakers trying to get a more favorable budget score for their...
August 9, 2017Robert McClelland
: Daily Deduction

Tax talk continues, tough choices loom.

How will lawmakers lower the corporate tax rate?
August 7, 2017Renu Zaretsky
Since World War II ended, the top individual income tax rate has ranged from 28 percent to 92 percent. The top rate is now 39.6 percent.
August 7, 2017
Federal Budget and Economy: Research report

The Fiscal Outlook in a Period of Policy Uncertainty

While policy makers and news headlines focus on debates about health care and tax policy, the U.S. fiscal outlook remains troubling and is a constraint against which new proposals should be judged. Budget deficits appear manageable in the short run, but the nation’s debt-GDP ratio is already high
August 7, 2017Alan J. AuerbachWilliam G. Gale
: TaxVox

The Nation’s Fiscal Outlook Has Not Improved

While policy makers and news headlines focus on debates about health care and tax policy, the U.S. fiscal outlook remains troubling and is a constraint...
August 4, 2017William G. Gale
: Daily Deduction

Ready for September: Clean, Neutral, Proposals

White House: No tax hikes on the wealthy, “clean” debt ceiling increase.
August 4, 2017Renu Zaretsky
: Daily Deduction

Read the fine print… If it’s there.

How do you say fuggedaboutit in Kentucky? Senate Democrats said they’d be willing to work with Republicans on a bipartisan tax bill... Finance Committee chair Orrin Hatch suggested some business could be done... but within hours Majority Leader Mitch McConnell slammed the door. So, as with the health bill, the GOP will try to get it done on its own.
August 3, 2017Renu Zaretsky
: TaxVox

A Tax Credit to Give Middle-Class Workers a Raise

When the middle class was suffering from the ravages of the Great Depression, demagogues of the right and left blamed easy scapegoats and offered populist...
August 2, 2017Leonard E. Burman