Individual Taxes: Current Law

T07-0317 - AMT Patch in H.R. 3996 (as Passed by the House), The Temporary Tax Relief Act of 2007, Distribution of Federal Tax Change by Cash Income Level for Individuals Removed from AMT, 2007

2007 Distribution of federal tax change by cash income level for the AMT patch extension included in H.R. 3996 (as passed by the House), the Temporary Tax Relief Act of 2007 for those taxpayers who would pay the AMT without the patch but would not with the patch. The patch allows personal
October 31, 2007
Individual Taxes: Current Law

T07-0318 - AMT Patch in H.R. 3996 (as Passed by the House), The Temporary Tax Relief Act of 2007, Distribution of Federal Tax Change by Cash Income Percentile for Individuals Removed from AMT, 2007

2007 Distribution of federal tax change by cash income percentile for the AMT patch extension included in H.R. 3996 (as passed by the House), the Temporary Tax Relief Act of 2007 for those taxpayers who would pay the AMT without the patch but would not with the patch. The patch allows personal
October 31, 2007
Individual Taxes: Current Law

T07-0319 - AMT Patch in H.R. 3996 (as Passed by the House), The Temporary Tax Relief Act of 2007, Distribution of Federal Tax Change by Cash Income Level for Individuals Remaining on the AMT, 2007

2007 Distribution of federal tax change by cash income level for the AMT patch extension included in H.R. 3996 (as passed by the House), the Temporary Tax Relief Act of 2007 for those taxpayers who would pay the AMT both with and without the patch. The patch allows personal nonrefundable credits
October 31, 2007
Individual Taxes: Current Law

T07-0320 - AMT Patch in H.R. 3996 (as Passed by the House), The Temporary Tax Relief Act of 2007, Distribution of Federal Tax Change by Cash Income Percentile for Individuals Remaining on the AMT, 2007

2007 Distribution of federal tax change by cash income percentile for the AMT patch extension included in H.R. 3996 (as passed by the House), the Temporary Tax Relief Act of 2007 for those taxpayers who would pay the AMT both with and without the patch. The patch allows personal nonrefundable
October 31, 2007
Individual Taxes: TaxVox

Hensarling's Law

House Republican Study Committee Chairman Jeb Hensarling (R-Tex.) has an extraordinary idea: "The correction of tax mistakes should never be offset with tax increases." Hensarling's Law, which might also be called the Mulligan Act of 2007, came in response to a huge tax restructuring proposed on Oct. 25 by House Ways & Means Committee Chairman Charlie Rangel (D-N.Y.). The core of that plan would repeal the Alternative Minimum Tax and make up nearly $1 trillion in lost revenue over 10 years with an income tax surcharge and other tax hikes.
October 30, 2007Howard Gleckman
Federal Budget and Economy: Research report

The Alternative Minimum Tax

Assault on the Middle Class
In a tax code with no shortage of ironies, the alternative minimum tax (AMT) stands out. Created by Congress in 1969, it was aimed at millionaires, but relatively few millionaires pay it. It is billed as a low-rate levy, but most of its victims face higher taxes because of it. It undermines two
October 29, 2007Leonard E. Burman
Federal Budget and Economy: Alternative Minimum Tax

T07-0313 - Change in Marginal Tax Rate on Wages Due To HR 3970, The Tax Reduction and Reform Act of 2007, Distribution of Tax Units by Change, 2008

2008 Distribution of tax units by cash income level by the change in the marginal tax rate on their wages resulting from HR 3970, The Tax Reduction and Reform Act of 2007
October 28, 2007
Federal Budget and Economy: Alternative Minimum Tax

T07-0314 - Change in Marginal Tax Rate on Capital Gains Due To HR 3970, The Tax Reduction and Reform Act of 2007, Distribution of Tax Units by Change, 2008

2008 Distribution of tax units by cash income level by the change in the marginal tax rate on their capital gains resulting from HR 3970, The Tax Reduction and Reform Act of 2007
October 28, 2007
Individual Taxes: TaxVox

Two Articles Relevant to the Rangel Proposal

Here are two related items by TPC researchers. Jason Furman has an op ed in the Think Tank section of WashingtonPost.com on the need for...
October 27, 2007Leonard E. Burman
Individual Taxes: TaxVox

A Reluctant Defense of the Surtax

My colleagues and I had some heartburn when various news outlets referred to a surtax proposal made by Greg Leiserson and me as "the Tax Policy Center plan" to fix the AMT. The TPC has no tax plan or institutional positions of any kind. Highlighting that point, TPC's chief blogger, Howard Gleckman, showed that we don't speak with one voice when he complained that "I don't like ... the way AMT relief [in Chairman Rangel's tax reform plan] is funded" in his most recent post. That is, Howard's not keen on Greg's and my modest proposal, which Mr. Rangel adopted with small modifications.
October 26, 2007Leonard E. Burman
Individual Taxes: Research report

Distributional Effects of the Major Individual Income Tax Provisions of H.R. 3970

On October 25, 2007, Ways and Means Committee Chairman Charles Rangel (D-NY) unveiled H.R. 3970, The Tax Reduction and Reform Act of 2007, sweeping tax reform legislation that would provide for a revenue-neutral repeal of the individual alternative minimum tax (AMT). This paper describes the
October 26, 2007Greg Leiserson
Individual Taxes: TaxVox

A $1 Trillion Tax Hike?

One of the main charges against the Rangel tax plan is that it would increase taxes by $1 trillion. Which is a bit odd because the President's budget proposed the exact same revenue increase, although in his case it is collected through the Alternative Minimum Tax (AMT) instead of a rate surcharge on high income families.
October 25, 2007Jason Furman
Individual Taxes: TaxVox

"The Mother of All Tax Reforms"

Let’s start with the obvious: The tax plan rolled out today by House Ways & Means Committee Chairman Charlie Rangel (D-N.Y.) is not the “mother of all tax reforms,” the congressman’s claim notwithstanding.
October 25, 2007Howard Gleckman
Federal Budget and Economy

T07-0300 - Major Individual Income Tax Provisions of HR 3970: The Tax Reduction and Reform Act of 2007 Distribution of Federal Tax Change by Cash Income Level, 2008

2008 distribution of major individual income tax provisions of HR3970: The Tax Reduction and Reform Act of 2007 by cash income level
October 25, 2007
Federal Budget and Economy

T07-0301 - Major Individual Income Tax Provisions of HR 3970: The Tax Reduction and Reform Act of 2007 by Cash Income Percentile

2008 distribution of federal tax change under major individual income tax provisions of HR 3970: The Tax Reduction and Reform Act of 2007 by cash income percentile
October 25, 2007
Federal Budget and Economy

T07-0302 - Major Individual Income Tax Provisions of HR 3970: The Tax Reduction and Reform Act of 2007, Against Baseline with 2006 AMT Patch Extended and Indexed for Inflation, Distribution of Federal Tax Change by Cash Income Class, 2008

2008 distribution of federal tax change by cash income level under the major individual income tax provisions in HR 3970: The Tax Reduction and Reform Act of 2007 against Against Baseline with 2006 AMT Patch Extended and Indexed for Inflation
October 25, 2007
Federal Budget and Economy

T07-0303 - Major Individual Income Tax Provisions of HR 3970: The Tax Reduction and Reform Act of 2007, Against Baseline with 2006 AMT Patch Extended and Indexed for Inflation, Distribution of Federal Tax Change by Cash Income Percentile, 2008

2008 distribution of federal tax change by cash income percentile under the major individual income tax provisions of HR 3970: The Tax Reduction and Reform Act of 2007 Against Baseline with 2006 AMT Patch Extended and Indexed for Inflation
October 25, 2007
Federal Budget and Economy

T07-0304 - Major Individual Income Tax Provisions of HR 3970: The Tax Reduction and Reform Act of 2007 Against Pre-EGTRRA Baseline, Distribution of Federal Tax Change by Cash Income Level, 2008

2008 distribution of federal tax change by cash income level under the major individual income tax provisions of HR 3970: The Tax Reduction and Reform Act of 2007 against pre-EGTRRA baseline
October 25, 2007
Federal Budget and Economy

T07-0305 - Major Individual Income Tax Provisions of HR 3970: The Tax Reduction and Reform Act of 2007 Against Pre-EGTRRA Baseline Distribution of Federal Tax Change by Cash Income Percentile, 2008

2008 distribution of federal tax change by cash income percentile under the major individual income tax provisions of HR 3970: The Tax Reduction and Reform Act of 2007 against pre-EGTRRA baseline
October 25, 2007
Federal Budget and Economy

T07-0308 - Major Individual Income Tax Provisions of HR 3970: The Tax Reduction and Reform Act of 2007, Distribution of Federal Tax Change by Cash Income Level, 2011

2011 distribution of federal tax change under the major individual income tax provisions of HR 3970: The Tax Reduction and Reform Act of 2007 by cash income level
October 25, 2007
Federal Budget and Economy: Alternative Minimum Tax

T07-0309 - Major Individual Income Tax Provisions of HR 3970: The Tax Reduction and Reform Act of 2007, Distribution of Federal Tax Change by Cash Income Percentile, 2011

2011 distribution of federal tax change under the major individual income tax provisions of HR 3970: The Tax Reduction and Reform Act of 2007 by cash income percentile
October 25, 2007
Federal Budget and Economy

T07-0310 - Major Individual Income Tax Provisions of HR 3970: The Tax Reduction and Reform Act of 2007, Distribution of Federal Tax Change by Cash Income Level, 2017

2017 distribution of federal tax change under the major individual income tax provisions of HR 3970: The Tax Reduction and Reform Act of 2007 by cash income level
October 25, 2007
Federal Budget and Economy

T07-0311 - Major Individual Income Tax Provisions of HR 3970: The Tax Reduction and Reform Act of 2007, Distribution of Federal Tax Change by Cash Income Percentile, 2017

2017 distribution of federal tax change under the major individual income tax provisions of HR 3970: The Tax Reduction and Reform Act of 2007 by cash income percentile
October 25, 2007
Federal Budget and Economy

T07-0306 - Major Individual Income Tax Provisions of HR 3970: The Tax Reduction and Reform Act of 2007, Distribution of Federal Tax Change by Cash Income Level, 2010

2010 distribution of federal tax change under the major individual income tax provisions of HR 3970: The Tax Reduction and Reform Act of 2007 by cash income class
October 25, 2007
Federal Budget and Economy

T07-0307 - Major Individual Income Tax Provisions of HR 3970: The Tax Reduction and Reform Act of 2007, Distribution of Federal Tax Change by Cash Income Percentile, 2010

2011 distribution of federal tax change under the major individual income tax provisions of HR 3970: The Tax Reduction and Reform Act of 2007 by cash income percentile
October 25, 2007