Federal Budget and Economy: 2008 Economic Stimulus Proposals

T08-0014 - Tax Rebate of up to $600 ($1200 For Couples) Plus $300 Per Dependent, Distribution of Federal Tax Change by Cash Income Percentile, 2007 Income Levels

Distribution of federal tax change by cash income percentile for a tax rebate of up to $600 ($1200 for couples) plus $300 per dependent, limited to the sum of income tax liability (if positive) and 15 percent of earnings against a baseline of 2008 current law plus extension and indexation of the
January 20, 2008
Federal Budget and Economy: 2008 Economic Stimulus Proposals

T08-0015 - Tax Rebate of up to $600 ($1200 For Couples) Plus $300 Per Dependent, Phased Out for Upper Income Taxpayers and Limited by Earnings, Distribution of Federal Tax Change by Cash Income Level, 2007 Income Levels

Distribution of federal tax change by cash income level for a tax rebate of up to $600 ($1200 for couples) plus $300 per dependent, limited to 15 percent of earnings and phased out at a 5 percent rate above the thresholds used for the child tax credit against a baseline of 2008 current law plus
January 20, 2008
Federal Budget and Economy: 2008 Economic Stimulus Proposals

T08-0016 - Tax Rebate of up to $600 ($1200 For Couples) Plus $300 Per Dependent, Phased Out for Upper Income Taxpayers and Limited by Earnings, Distribution of Federal Tax Change by Cash Income Percentile, 2007 Income Levels

Distribution of federal tax change by cash income percentile for a tax rebate of up to $600 ($1200 for couples) plus $300 per dependent, limited to 15 percent of earnings and phased out at a 5 percent rate above the thresholds used for the child tax credit against a baseline of 2008 current law
January 20, 2008
Federal Budget and Economy: 2008 Economic Stimulus Proposals

T08-0012 - Reduce 10-Percent Individual Income Tax Rate to 0 Percent, Beneficiaries (thousands) by Individual Characteristics, 2008

2008 Counts of tax units benefiting from a reduction in the 10-percent statutory individual income tax rate to zero percent, by individual characteristics.
January 20, 2008
Federal Budget and Economy: TaxVox

Stimulus: Treat the Disease, Not the Symptoms

When it comes to stimulus, President Bush and congressional Democrats may not quite be on the same page, but at least they are reading from the same book. I just wonder whether it is the right one.
January 18, 2008Howard Gleckman
Federal Budget and Economy: Research report

Rangel's AMT Riddle Continues

In this article, C. Eugene Steuerle explores the political and budgetary pressures facing Charles Rangel, the House Ways and Means Committee Chairman, with regard to the Alternative Minimum Tax (AMT). He further analyzes various options to fix the AMT, the ramifications for Rangel, and the path
January 18, 2008C. Eugene Steuerle
Individual Taxes: TaxVox

A Simple Tax Reform

While the Presidential candidates are campaigning on grandiose and often radical reforms to the current tax system, they are missing out on a simple commonsense reform that would make tax filing easier for millions of Americans.
January 17, 2008Benjamin H. Harris
Federal Budget and Economy: Brief

Fixing the Tax System

Support Fairer, Simpler, and More Adequate Taxation
A good tax system raises the revenues needed to finance government spending in a manner that is as simple, equitable, stable, and conducive to economic growth as possible. But the challenge for the next President will be to make reform work not just in the abstract, but in the real world, where
January 17, 2008William G. Gale
: Testimony

If, When, How: A Primer on Fiscal Stimulus

Economists believe that monetary policy should play the lead role in stabilizing the economy because of the Federal Reserve's ability to act quickly and effectively to adjust interest rates, using its technical expertise and political insulation to balance competing priorities. Fiscal policy can
January 17, 2008Douglas W. ElmendorfJason Furman
: Brief

Bush Stimulus May Have Only Modest Effect

In principle, a well-timed and carefully designed economic stimulus package can help avert or minimize a recession. In practice, timing a fiscal stimulus is nearly impossible since forecasters usually "predict" economic turning points only long after they have occurred. Len Burman and Jeff Rohaly
January 16, 2008Leonard E. BurmanJeffrey Rohaly
Federal Budget and Economy: Commentary

Not if Exports Save Us

Looking only at standard macroeconomic statistics, you would think the economy was in very good shape. Gross domestic product has grown at a 4.4 percent annual rate in the last six months, well above the historical average. But these statistics are like looking through a rearview mirror. Jason
January 16, 2008Jason Furman
Federal Budget and Economy: TaxVox

Can Fiscal Stimulus Arrive on Time?

Let's say President Bush and Congress agree that the U.S. needs a fiscal boost to jump-start the sluggish economy. Let's say they even reach a consensus on what to do (fantasy, perhaps, but bear with me). Could tax cuts and direct aid get to individuals, business, and states in time to forestall a recession?
January 15, 2008Howard Gleckman
Individual Taxes: Capital Gains

T08-0009 - Tax Benefits of Select Tax Expenditures for Economic Mobility, Distribuiton of Federal Tax Change by Cash Income Percentile, 2006

Distribution by cash income percentile for the benefits of provisions including the Hope and Lifetime Learning credits, the child and dependent care credit, the student loan interest deduction, the home mortgage interest deduction, the EITC, the state and local tax deduction, and tax incentives for
January 14, 2008
Individual Taxes: Capital Gains

T08-0008 - Tax Benefits of Select Tax Expenditures for Economic Mobility, Distribution of Federal Tax Change by Cash Income Level 2006

Distribution of benefits from provisions including the Hope and Lifetime Learning credits, the student loan interest deduction, the home mortgage interest deduction, the state and local property tax deduction, the EITC, the child and dependent care credit, and tax incentives for retirement savings.
January 14, 2008
Federal Budget and Economy: TaxVox

The Great Stimulus Debate: Round I

At the Brookings Institution this morning, a standing-room only crowd heard five economic heavyweights debate what may become the central domestic policy issue of 2008. Do we need fiscal stimulus to keep the nation out of recession, and, if we do, what should it look like?
January 10, 2008Howard Gleckman
Individual Taxes: Marginal Tax Rates

T08-0002 - Reduce Lowest Individual Income Tax Rate From 10 to 9 Percent, Distribution of Federal Tax Change by Cash Income Level, 2008

2008 Distribution of federal tax change by cash income level for a proposal to reduce the 10 percent statutory income tax rate to 9 percent
January 10, 2008
Individual Taxes: Marginal Tax Rates

T08-0003 - Reduce Lowest Individual Income Tax Rate From 10 to 9 Percent, Distribution of Federal Tax Change by Cash Income Percentile, 2008

2008 Distribution of federal tax change by cash income percentile for a proposal to reduce the 10 percent statutory income tax rate to 9 percent
January 10, 2008
Individual Taxes: Marginal Tax Rates

T08-0004 - Reduce 15 Percent Individual Income Tax Rate to 14 Percent, Distribution of Federal Tax Change by Cash Income Level, 2008

2008 Distribution of federal tax change by cash income level for a proposal to reduce the 15 percent statutory income tax rate to 14 percent
January 10, 2008
Individual Taxes: Marginal Tax Rates

T08-0005 - Reduce 15 Percent Individual Income Tax Rate to 14 Percent, Distribution of Federal Tax Change by Cash Income Percentile, 2008

2008 Distribution of federal tax change by cash income percentile for a proposal to reduce the 15 percent statutory income tax rate to 14 percent
January 10, 2008
Individual Taxes: Marginal Tax Rates

T08-0006 - Reduce 15 Percent Individual Income Tax Rate to 14 Percent Under Pre-EGTRRA Law, Distribution of Federal Tax Change by Cash Income Level, 2008

2008 Distribution of federal tax change by cash income level for a proposal to reduce the 15 percent statutory income tax rate to 14 percent against a baseline of pre-EGTRRA (the 2001 tax cut) law
January 10, 2008
Individual Taxes: Marginal Tax Rates

T08-0007 - Reduce 15 Percent Individual Income Tax Rate to 14 Percent Under Pre-EGTRRA Law, Distribution of Federal Tax Change by Cash Income Percentile, 2008

2008 Distribution of federal tax change by cash income percentile for a proposal to reduce the 15 percent statutory income tax rate to 14 percent against a baseline of pre-EGTRRA (the 2001 tax cut) law
January 10, 2008
Individual Taxes: TaxVox

Who Pays the Corporate Income Tax?

So who does pay the corporate income tax? The question seems simple, but the answer turns out to be exceedingly complicated.
January 8, 2008Howard Gleckman
State and Local Issues: Brief

Huckabee Tax Plan Would Be A Disaster

In this "Marketplace" commentary, Len Burman, director of the Tax Policy Center, explains why presidential candidate Mike Huckabee's FairTax proposal is misnamed.
January 8, 2008Leonard E. Burman
Campaigns, Proposals, and Reforms: TaxVox

Obama: Big Win, Small Change

Barack Obama, with his big victory in the Iowa caucuses, has done a terrific job positioning himself as the Democrats' candidate of change. In his "closing argument" speech a few days before the voting, Obama repeated the word no fewer than 18 times.
January 4, 2008Howard Gleckman
Individual Taxes: TaxVox

Limiting the Damage from the 2008 AMT Train Wreck

As most TaxVox readers know, the political establishment waited until the last possible moment to pass the inevitable extension of the AMT "patch," sparing 20 million taxpayers from the dreaded alternative tax. Now the IRS says that lawmakers' procrastination will delay the start of the tax filing season by about a month—until mid-February—for taxpayers who claim certain tax credits that the AMT would have affected but for the twelfth-hour reprieve.
January 2, 2008Leonard E. Burman