: Daily Deduction

President Biden: “We Have A Deal” On A Bipartisan Infrastructure Package

Biden signs on to the bipartisan infrastructure framework.
June 25, 2021Renu Zaretsky
State and Local Issues: TaxVox

State Pass-Through Entity Taxes Let Some Residents Avoid the SALT Cap at No Cost to The States

This week, Colorado became the 14 th state to either require or allow some pass-through businesses such as partnerships to pay state income taxes at...
June 24, 2021Kim S. Rueben
Federal Budget and Economy: Virtual Event

The Prescription: Fiscal Policy for Today’s Economy with Alpa Shah

This week’s guest: IMF economist Alpa Shah discussing digital taxes The Urban-Brookings Tax Policy Center (TPC) is holding a series of online conversations on tax...
June 24, 2021
Federal Budget and Economy: Virtual Event

11th Annual IRS/TPC Joint Research Conference on Tax Administration

The Internal Revenue Service and the Urban-Brookings Tax Policy Center invite you to virtually attend the only annual conference focused exclusively on tax administration research...
June 24, 2021
: Daily Deduction

A Bipartisan Breakthrough, A Budget Boost

Progress toward the outline of a potential agreement.
June 24, 2021Renu Zaretsky
: Daily Deduction

A Move To Limit The Salt Cap

Sanders would partially repeal the SALT cap.
June 23, 2021Renu Zaretsky
: Daily Deduction

Waiting, Wondering, and Watching

President Biden awaits more details on bipartisan infrastructure bill.
June 22, 2021Renu Zaretsky
: Daily Deduction

Summertime, And The Legislating Won’t Be Easy

How shall we pay for an infrastructure plan?
June 21, 2021Renu Zaretsky
Salaries and wages are the largest sources of income for most households. In 2018, they comprised 68% of total adjusted gross income across all individual income tax returns, but only 17% for those with incomes over $10 million.
June 21, 2021
: Daily Deduction

Another Ruling, Another Rejection, And More Projections

The Affordable Care Act survives another US Supreme Court challenge.
June 18, 2021Renu Zaretsky
: Daily Deduction

Infrastructure, Inflation, Leaks, and Challenges

Bipartisan infrastructure bill gets more backing.
June 17, 2021
Business Taxes: TaxVox

The Fate Of Biden’s Corporate Tax Hikes May Rest On Who Voters Think Pay Them

As the partisan battle heats up over President Biden’s ambitious infrastructure plan—and the tax increases to pay for it—the fate of the package will largely...
June 17, 2021Howard Gleckman
: Daily Deduction

Progressives Vie For Attention

If progressives drive bipartisan infrastructure talks off course, where will they go instead?
June 16, 2021Renu Zaretsky
Individual Taxes: TaxVox

Pro Publica’s Billionaires: Stories Behind the Story

Pro Publica’s recent story about the small amount of tax paid by many of the nation’s billionaires has focused new attention on what critics say...
June 15, 2021C. Eugene Steuerle
: Daily Deduction

Big Questions, Simple Rejections

Will a trillion dollar infrastructure bill be President Biden’s high-water mark?
June 15, 2021Renu Zaretsky
: Daily Deduction

Global Leaders Officially Endorse Global Minimum Corporate Tax Rate

President Biden and G-7: Yes to a global minimum corporate tax of 15 percent.
June 14, 2021
In 2020, 47% of federal revenue came from individual income taxes and 38% from payroll taxes. Over time, the shares from corporate income taxes and excise taxes have declined.
June 14, 2021
: Daily Deduction

Mind the Growing Tax Gap

Treasury: Tax gap could grow to $7 trillion over ten years.
June 11, 2021Renu Zaretsky
Federal Budget and Economy: Virtual Event

The Prescription: Fiscal Policy for Today’s Economy with Kim Clausing

This week’s guest: Deputy Assistant Treasury Secretary Kim Clausing The Urban-Brookings Tax Policy Center (TPC) is holding a series of online conversations on tax and...
June 10, 2021
Individual Taxes: Testimony

The Effect of Tax Enforcement on Revenues

Testimony before subcommittees of the House Ways and Means Committee
Janet Holtzblatt, senior fellow in the Tax Policy Center, testified before the Select Revenue Measures and Oversight subcommittees of House Ways and Means at a hearing on the tax gap and improving tax administration. The testimony focused on four key areas: the impact of reductions in the IRS’s
June 10, 2021Janet Holtzblatt
: Daily Deduction

President Biden Wants Taxes to Go Up—Way Up—for High Income Households

TPC shows how Biden’s tax plan would affect different households.
June 10, 2021Renu Zaretsky
Campaigns, Proposals, and Reforms: TaxVox

Biden Would Raise Taxes Substantially for High Income Households and Corporations, Cut Taxes for Families with Children, According to A New TPC Analysis

Nearly all of President Biden’s proposed tax increases would be borne by the highest income 1 percent of households--those making about $800,000 or more—according to...
June 9, 2021Howard Gleckman
Campaigns, Proposals, and Reforms: Distribution Tables by Income Level

T21-0074 – Major Individual Income and Payroll Tax Provisions in the Biden Administration's FY2022 Budget Proposal, by Expanded Cash Income Level, 2031

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...
June 9, 2021
Campaigns, Proposals, and Reforms: Distribution Tables by Income Percentile

T21-0075 – Major Individual Income and Payroll Tax Provisions in the Biden Administration's FY2022 Budget Proposal, by Expanded Cash Income Percentile, 2031

Table shows the distribution of tax units that see a tax increase or a tax cut ("winners and losers"), by expanded cash income percentiles in...
June 9, 2021
Campaigns, Proposals, and Reforms: Distribution Tables by Income Percentile

T21-0071 – Individual Income and Payroll Tax Provisions in the Biden Administration's FY2022 Budget Proposal, by Expanded Cash Income Percentile, 2031

Table shows the change in the distribution of federal taxes, by expanded cash income percentiles in 2031, of the individual income tax and payroll tax...
June 9, 2021