Senator Marco Rubio would convert the income tax into a progressive consumption tax, an ambitious idea that would eliminate the income tax’s penalty on saving. However, a new Tax Policy Center analysis finds that Rubio’s version would slash federal tax revenues by $6.8 trillion over the next decade

President Obama released a $4.1 trillion budget yesterday. TPC’s Howard Gleckman says the plan includes about $3 trillion in tax hikes over ten years, mostly to pay for new initiatives. These taxes include a $10 per barrel oil tax, a 19 percent minimum tax on future corporate income earned abroad,

If the White House wanted to attract attention to its final budget , it could not have picked a worse day to make it public. With official Washington obsessed with today’s New Hampshire primary, the 2017 budget barely caused a ripple. In case there was any question about its fate on Capitol Hill,

In the budget he plans to release tomorrow, President Obama will propose some modest changes to the Affordable Care Act’s much-reviled Cadillac Tax on high-cost employer sponsored health plans. In advance of the proposal, Jason Furman, Chair of the president’s Council of Economic Advisers,

There’s a Democratic debate tonight. It will now feature only two candidates. Brush up on Hillary Clinton’s and Bernie Sanders’ tax plans here . Clinton and Sanders have agreed to four more debates. The next one will be in Flint, Michigan, a city currently in a state-manufactured water crisis .

A couple of weeks ago I donated six cases of water to our neighbors in Flint, Michigan . I’m not alone. In an outpouring of love and solidarity for a city that’s been stuck with poisoned tap water for two years, average Americans and big-name celebrities from across the country have donated