: Daily Deduction

Health Care, Tax Reform, and Millionaires

This week in the Senate: A possible vote on the BCRA. The Better Care Reconciliation Act, the Senate version of the House’s American Health Care Act, will get a CBO score early this week, perhaps as soon as today.
June 26, 2017Renu Zaretsky
In 2017, workers owe no Social Security tax on earnings above $127,200, up from $3,000 in 1950.
June 26, 2017
Federal Budget and Economy: TaxVox

The Attacks On The Congressional Budget Office Are Wrong

The Congressional Budget Office is under unprecedented political attack. These criticisms are overblown, and likely will prove to be counterproductive—even to those making them. CBO’s...
June 23, 2017Rudolph G. Penner
: Daily Deduction

"Repeal and Replace" Redux

The Senate GOP leadership has a health care plan.
June 23, 2017Renu Zaretsky
Individual Taxes: TaxVox

The Tax Pieces of The Senate Health Bill Look A Lot Like The House's

The Senate Republican leadership released its closely-held alternative to the Affordable Care Act this morning. When it comes to taxes, the proposal looks a lot...
June 22, 2017Howard Gleckman
: Daily Deduction

A Back-Room Tax Deal?

Who will sit at the tax table? The White House plans to work privately with GOP leadership to craft a tax bill.
June 22, 2017Renu Zaretsky
Individual Taxes: Conference

7th Annual IRS-TPC Joint Research Conference on Tax Administration

The Internal Revenue Service and the Urban-Brookings Tax Policy Center invite you to attend the only annual conference focused exclusively on tax administration research. Researchers...
June 21, 2017
: Daily Deduction

There's no time like the present.

Tax reform will happen this year, promise Treasury Secretary Mnuchin and Speaker Ryan.
June 21, 2017Renu Zaretsky
Campaigns, Proposals, and Reforms: TaxVox

Despite Ryan’s Call For “Transformational Tax Reform,” Core Issues Remain Unresolved

Today, House Speaker Paul Ryan (R-WI) used a highly-promoted speech to call for a major tax bill in 2017. His message: “Transformational tax reform can...
June 20, 2017Howard Gleckman
: Daily Deduction

Baby Steps

Introduced: A bipartisan effort to help graduate students save for retirement
June 20, 2017Renu Zaretsky
State and Local Issues: TaxVox

The Complex Relationship Between The State And Local Tax Deduction And The Alternative Minimum Tax

The House Republican leadership and the Trump Administration want to repeal the state and local tax (SALT) deduction and the individual Alternative Minimum Tax (AMT)...
June 19, 2017Frank Sammartino
: Daily Deduction

No Tax Plan Yet, But Lots of New Ideas

Tomorrow: Ryan’s major speech on tax reform. Speaker of the House Paul Ryan “will talk about what tax reform looks like, not just the benefits” in an address to the National Association of Manufacturers. It is a year since Ryan and other House GOP leaders released their tax reform blueprint.
June 19, 2017Renu Zaretsky
In 2017, taxpayers with 3 or more children can receive a maximum EITC of $6,318. Maximum EITC for those without children is $510.
June 19, 2017
: TaxVox

Ways To Reform Taxation Of Small Business

On June 14, I testified before the Senate Small Business and Entrepreneurship Committee on how tax reform might affect small business. I delivered two key...
June 16, 2017Mark J. Mazur
Campaigns, Proposals, and Reforms: TaxVox

Investors May Be Waiting For A Tax Cut To Sell But Congress Could Fix The Lock-In Problem

Federal tax receipts have been coming in more slowly than expected, according to the Congressional Budget Office . Through the first eight months of the...
June 16, 2017Steven M. Rosenthal
: Daily Deduction

Playing for Keeps

Does the Senate want to keep some ACA taxes? It would appear that some Republicans may want to at least delay repeal of the nearly $1 trillion in Affordable Care Act tax increases.
June 16, 2017Renu Zaretsky
: TaxVox

Trump’s Budget Could Create Chaos in the States

President Trump’s proposed 2018 budget would result in deep cuts to federal payments to states. Federal funds currently account for nearly a third of state...
June 15, 2017Richard C. Auxier
: Daily Deduction

Compromise, Lessons, and Sin

The day the music died. TPC’s Howard Gleckman wonders whether the concessions announced this week by Ways & Means Chair Kevin Brady signal the death of tax reform.
June 15, 2017Renu Zaretsky
Business Taxes: Testimony

Options for Small Business Tax Reform

Mark Mazur, Director of the Urban-Brookings Tax Policy Center, testified before the US Senate Committee on Small Business during a hearing entitled “Tax Reform: Removing the Barriers to Small Business Growth.” In his testimony, Mazur presented a review of the principles of desirable tax policy,
June 15, 2017Mark J. Mazur
Campaigns, Proposals, and Reforms: Brief

Taxes and Income Inequality

This year, Congress will consider what may be the biggest tax bill in decades. This is one of a series of briefs the Tax Policy Center has prepared to help people follow the debate. Each focuses on a key tax policy issue that Congress and the Trump administration may address. This brief addresses
June 15, 2017Frank Sammartino
Campaigns, Proposals, and Reforms: Brief

How Would Repeal of the State and Local Tax Deduction Affect Taxpayers Who Pay the AMT?

This year, Congress will consider what may be the biggest tax bill in decades. This is one of a series of briefs the Tax Policy Center has prepared to help people follow the debate. Each focuses on a key tax policy issue that Congress and the Trump administration may address. This brief addresses
June 15, 2017Frank Sammartino
: TaxVox

The Day Tax Reform Died

When historians tell the story of the great tax debate of 2017, they may mark down yesterday, June 13, as the day tax reform died...
June 14, 2017Howard Gleckman
State and Local Issues: TaxVox

What the Kansas Tax Cut About-Face Means

The tax cut that Kansas Governor Sam Brownback hailed in 2012 as “a shot of adrenaline into the heart of the Kansas economy” has been...
June 14, 2017William G. Gale
Campaigns, Proposals, and Reforms: TaxVox

Replacing The Individual Mandate to Buy Health Insurance: A First Step To Compromise

The Trump Administration and congressional Republicans remain stalemated over how to “repeal and replace” the 2010 Affordable Care Act (ACA). One major problem: The House...
June 14, 2017C. Eugene Steuerle
: Daily Deduction

Phases, Circumstances, and Remembering

Could the House phase in a border-adjustable tax? House Ways & Means Chair Kevin Brady is proposing a five-year runway.
June 14, 2017Renu Zaretsky