: Daily Deduction

It’s Going To Be A Long December

The Senate is likely to take at least a month to “Build Back Better.”
November 22, 2021Renu Zaretsky
Business Taxes: TaxVox

A Better Way To Tax Corporations Than The House’s Book Minimum Levy

After rejecting corporate income tax rate increases to help pay for President Biden’s Build Back Better plan, House Democrats passed a 15 percent alternative minimum...
November 22, 2021Howard Gleckman
The American Opportunity Tax Credit can offset qualified higher education expenses for eligible students. The credit largely benefits lower- and moderate-income households.
November 22, 2021
Federal Budget and Economy: Brief

Lessons from the American Recovery and Reinvestment Act for an Inclusive Recovery from the Pandemic

By examining federal aid to state and local governments during the Great Recession, we draw lessons that can inform current state and local efforts to build an inclusive economic recovery from the COVID-19 pandemic. We primarily compare the American Recovery and Reinvestment Act of 2009 with the
November 19, 2021Aravind BoddupalliNikhita AiriTracy GordonSolomon Greene
: Daily Deduction

House About To Pass Build Back Better

And now to the Senate, really.
November 19, 2021Renu Zaretsky
Business Taxes: TaxVox

Book Minimum Tax May Discourage Investment More Than a Rate Hike

The House budget reconciliation deal rejected a corporate income tax rate increase in favor of a 15 percent minimum tax on book income . Though...
November 18, 2021Thornton MathesonThomas Brosy
: Daily Deduction

Is Friday BBB Vote Day?

Democratic leaders say tomorrow is the likely day for a BBB vote.
November 18, 2021Renu Zaretsky
Individual Taxes: TaxVox

How An $80,000 SALT Cap Stacks Up Against A Full Deduction For Those Making $400,000 Or Less

Congress seems to be considering two ways to address the Tax Cut and Job Act’s $10,000 cap on the state and local tax (SALT) deduction...
November 18, 2021Howard GleckmanLeonard E. Burman
Campaigns, Proposals, and Reforms: Distribution Tables by Income Percentile

T21-0281 - Repeal $10,000 Limit on Deductible State and Local Taxes (SALT) for those with Adjusted Gross Income less than $400,000, by Expanded Cash Income Percentile, 2021

Table shows the change in the distribution of federal taxes relative to current law from repealing the $10,000 limit on deductible state and local taxes (SALT) for those with adjusted gross income (AGI) less than $400,000, by expanded cash income percentile in 2021. The phase in limit would be between $400,000 and $500,000 of AGI.
November 17, 2021
Campaigns, Proposals, and Reforms: Distribution Tables by Income Level

T21-0280 - Repeal $10,000 Limit on Deductible State and Local Taxes (SALT) for those with Adjusted Gross Income less than $400,000, by Expanded Cash Income Level, 2021

Table shows the change in the distribution of federal taxes relative to current law from repealing the $10,000 limit on deductible state and local taxes (SALT) for those with adjusted gross income (AGI) less than $400,000, by expanded cash income level in 2021. The phase in limit would be between $400,000 and $500,000 of AGI.
November 17, 2021
Federal Budget and Economy: TaxVox

The Short Run Growth and Inflation Effects of Build Back Better Are Likely to Be Modest

A key issue in the congressional debate over President Biden’s Build Back Better (BBB) plan is how it would affect the economy over the next...
November 17, 2021Benjamin R. Page
: Daily Deduction

A Vote on BBB This Week? Maybe?

BBB finally hits the House floor.
November 17, 2021Renu Zaretsky
: Daily Deduction

Waiting For CBO’s Score…

CBO promises a full score of Build Back Better by Friday.
November 16, 2021Renu Zaretsky
: Daily Deduction

Schedule Shake Up Shifts Senate’s Spending Bill Vote

House Democrats hope to vote on Build Back Better this week.
November 15, 2021Renu Zaretsky
Family holdings of retirement assets vary widely by race and ethnicity. In 2019, the median White family had $80,000 in retirement holdings, whereas the median Latino family and median Black family each had less than half that amount.
November 15, 2021
State and Local Issues: Distribution Tables by Income Level

T21-0278 - Increase Limit on Deductible State and Local Taxes (SALT) to $80,000, by Expanded Cash Income Level, 2021

Table shows the change in the distribution of federal taxes relative to current law from raising the limit on deductible state and local taxes (SALT) from $10,000 to $80,000, by expanded cash income level in 2021.
November 12, 2021
State and Local Issues: Distribution Tables by Income Percentile

T21-0279 - Increase Limit on Deductible State and Local Taxes (SALT) to $80,000, by Expanded Cash Income Percentile, 2021

Table shows the change in the distribution of federal taxes relative to current law from raising the limit on deductible state and local taxes (SALT) from $10,000 to $80,000, by expanded cash income percentile in 2021.
November 12, 2021
Federal Budget and Economy: Virtual Event

The Prescription: Fiscal Policy for Today's Economy with Michelle Hanlon

The Urban-Brookings Tax Policy Center is holding a series of online conversations on tax and fiscal policy in today’s economy. The discussions take place every...
November 11, 2021
Campaigns, Proposals, and Reforms: Distribution Tables by Income Percentile

T21-0277 - Tax Units with a Tax Increase or Tax Cut from Individual Income and Payroll Tax Provisions in Build Back Better Act as Reported by House Budget Committee, by Expanded Cash Income Percentile, 2026

Table shows the distribution of tax units that see a tax increase or a tax cut ("winners and losers"), by expanded cash income percentile in 2026, due to the individual income tax and payroll tax provisions in H.R.5376, The Build Back Better Act as reported by the House Budget Committee, with Modifications (Rules Committee Print 117-18 as Amended by 117-19).
November 11, 2021
Campaigns, Proposals, and Reforms: Distribution Tables by Income Level

T21-0276 - Tax Units with a Tax Increase or Tax Cut from Individual Income and Payroll Tax Provisions in Build Back Better Act as Reported by House Budget Committee, by Expanded Cash Income Level, 2026

Table shows the distribution of tax units that see a tax increase or a tax cut ("winners and losers"), by expanded cash income level in 2026, due to the individual income tax and payroll tax provisions in H.R.5376, The Build Back Better Act as reported by the House Budget Committee, with Modifications (Rules Committee Print 117-18 as Amended by 117-19).
November 11, 2021
Campaigns, Proposals, and Reforms: Distribution Tables by Income Percentile

T21-0275 - Tax Units with a Tax Increase or Tax Cut from Individual Income and Payroll Tax Provisions in Build Back Better Act as Reported by House Budget Committee, by Expanded Cash Income Percentile, 2023

Table shows the distribution of tax units that see a tax increase or a tax cut ("winners and losers"), by expanded cash income percentile in 2023, due to the individual income tax and payroll tax provisions in H.R.5376, The Build Back Better Act as reported by the House Budget Committee, with Modifications (Rules Committee Print 117-18 as Amended by 117-19).
November 11, 2021
Campaigns, Proposals, and Reforms: Distribution Tables by Income Percentile

T21-0271 - Individual Income and Payroll Tax Provisions in Build Back Better Act as Reported by House Budget Committee, by Expanded Cash Income Percentile, 2026

Table shows the change in the distribution of federal taxes, by expanded cash income percentile in 2026, of the individual income tax and payroll tax provisions in H.R.5376, The Build Back Better Act as reported by the House Budget Committee, with Modifications (Rules Committee Print 117-18 as Amended by 117-19).
November 11, 2021
Campaigns, Proposals, and Reforms: Distribution Tables by Income Level

T21-0274 - Tax Units with a Tax Increase or Tax Cut from Individual Income and Payroll Tax Provisions in Build Back Better Act as Reported by House Budget Committee, by Expanded Cash Income Level, 2023

Table shows the distribution of tax units that see a tax increase or a tax cut ("winners and losers"), by expanded cash income level in 2023, due to the individual income tax and payroll tax provisions in H.R.5376, The Build Back Better Act as reported by the House Budget Committee, with Modifications (Rules Committee Print 117-18 as Amended by 117-19).
November 11, 2021
Campaigns, Proposals, and Reforms: Distribution Tables by Income Percentile

T21-0273 - Tax Units with a Tax Increase or Tax Cut from Individual Income and Payroll Tax Provisions in Build Back Better Act as Reported by House Budget Committee, by Expanded Cash Income Percentile, 2022

Table shows the distribution of tax units that see a tax increase or a tax cut ("winners and losers"), by expanded cash income percentile in 2022, due to the individual income tax and payroll tax provisions in H.R.5376, The Build Back Better Act as reported by the House Budget Committee, with Modifications (Rules Committee Print 117-18 as Amended by 117-19).
November 11, 2021
Campaigns, Proposals, and Reforms: Distribution Tables by Income Level

T21-0272 - Tax Units with a Tax Increase or Tax Cut from Individual Income and Payroll Tax Provisions in Build Back Better Act as Reported by House Budget Committee, by Expanded Cash Income Level, 2022

Table shows the distribution of tax units that see a tax increase or a tax cut ("winners and losers"), by expanded cash income level in 2022, due to the individual income tax and payroll tax provisions in H.R.5376, The Build Back Better Act as reported by the House Budget Committee, with Modifications (Rules Committee Print 117-18 as Amended by 117-19).
November 11, 2021