: Daily Deduction

Spending, Vaping, Keeping, Repealing and Hiking

This week on the Hill: Appropriations bills in the Senate.
October 21, 2019Renu Zaretsky
Tax revenue sources differ greatly between levels of government. Individual income and payroll taxes are the largest sources for the federal government, while sales and property taxes are the largest sources for states and localities.
October 21, 2019
: Daily Deduction

Medicare-for-All, You Say?

How would the US pay for universal health care? It’s time to come clean.
October 18, 2019Renu Zaretsky
Federal Budget and Economy: Conference

Cryptocurrency and Tax Administration

Join the Tax Policy Center, in collaboration with H&R Block, for a discussion on cryptocurrency and tax administration. Cryptocurrencies like Bitcoin facilitate anonymous, decentralized, borderless...
October 17, 2019
: Daily Deduction

Inconsistencies, Limits, and Impacts

Tune in at 9:30 am for an event on cryptocurrency and tax administration.
October 17, 2019Renu Zaretsky
Individual Taxes: TaxVox

The Story Of Medicare For All And Taxes Is Complex, But Warren And Sanders Have To Tell It

In a new report, my Urban Institute colleagues have estimated that a full-blown Medicare for All plan would increase federal government healthcare spending by a...
October 17, 2019Howard Gleckman
: Daily Deduction

Running Out The Clock, Denying A Break

To keep his tax returns secret, President Trump may just have to stall.
October 16, 2019Renu Zaretsky
: TaxVox

How Norms and Laws Might Further Limit Executive Branch Influence Over Investigations

Recent stories in the news raise important questions about the ability of government to impose constraints on abusive government investigations. I’m not here to judge...
October 15, 2019C. Eugene Steuerle
: Daily Deduction

A Doubtful Deal and a Corporate Tax Hike?

China cools hopes for a big trade deal.
October 15, 2019Renu Zaretsky
: Daily Deduction

Trump Tax Records And A Possible Trade Deal?

An Appeals Court says an accounting firm must turn over 8 years of President Trump’s tax returns.
October 14, 2019Renu Zaretsky
: TaxVox

Fiscal 2019 Was A Strong Revenue Year For Most States But 2020 May Be Less Robust

State revenue growth was strong in fiscal year 2019 (July-June for 46 of the 50 states), but not as robust as in 2018. And temporary...
October 14, 2019Lucy Dadayan
Residential energy credits benefit taxpayers with higher incomes more than others. In 2017, taxpayers with over $100,000 reported 47% of total AGI and claimed 54% of the credit amount, while those with under $25,000 reported 6% of AGI and claimed 1% of the credit.
October 14, 2019
Individual Taxes: TaxVox

Are US Billionaires Really Paying A Lower Tax Rate Than Working People? Probably Not.

Economists Emmanuel Saez and Gabriel Zucman of the University of California at Berkeley have a new book that has generated an enormous amount of attention...
October 11, 2019Howard Gleckman
: TaxVox

The TCJA Didn’t Change Child Benefits For Most Families With Children By Very Much

The Tax Cuts and Jobs Act (TCJA) significantly changed how families with children were treated under the individual income tax, but for many - changed...
October 8, 2019Elaine Maag
State and Local Issues: TaxVox

Did SALT-y Voters Punish Republicans in 2018?

How important was the 2017 Tax Cuts and Jobs Act’s (TCJA’s) cap on the state and local tax (SALT) deduction in the 2018 congressional elections?...
October 8, 2019Noah Zwiefel
State and Local Issues: Research report

Are States Betting on Sin? The Murky Future of State Taxation

“Sin taxes” are often viewed as budget saviors, though they play a rather small role in state budgets. Although states raise revenue from sin taxes, policymakers should be mindful of these taxes’ limitations. Absent policy changes (such as increased tax rates), long-term growth for sin tax revenue
October 8, 2019Lucy Dadayan
Individual Taxes: IndividualDeductions & ExemptionsStateFederal Tax Components and Credits by State

Congressional Districts Ranked by Percentage of Returns With State and Local Tax Deduction, 2014 and 2016

Workbook includes three tables. The first table ranks congressional districts by the percent of returns with a state and local tax deduction in 2016. The second table ranks congressional districts by the percentage of returns with a state and local tax deduction in 2014. The third ranks congressional districts by the state and local tax deduction as a percentage of AGI in 2014.
October 7, 2019
Federal Budget and Economy: TaxVox

How To Remake The TCJA Into Pro-Growth, Progressive Tax Reform

The Tax Cuts and Jobs Act (TCJA) cut federal tax revenues by nearly $2 trillion over its first decade, with almost all the benefit going...
October 7, 2019Leonard E. Burman
Individual Taxes: IndividualDeductions & Exemptions

Exemption Type by AGI

Exemptions by type and number of exemptions, by AGI.
October 7, 2019
Individual Taxes: IndividualDeductions & Exemptions

Exemption Type by Marital Status

Exemptions by type and number of exemptions, by marital status.
October 7, 2019
: Daily Deduction

Trump’s Tax Returns, More Whistle-blowing, And Taxing Executive Comp And Lobbying

Treasury’s Acting Inspector General will review agency efforts to protect President Trump’s tax returns.
October 7, 2019Renu Zaretsky
The Vaccine Injury Compensation Trust Fund, in effect since 1988, is funded by excise taxes imposed on CDC-recommended vaccines routinely administered to children. Revenues totaled $309 million in 2018.
October 7, 2019
Business Taxes: TaxVox

Using Taxes To Cap Executive Compensation Doesn’t Work

This week, Democratic presidential hopeful Bernie Sanders proposed raising the tax rates for large corporations where there are “exorbitant” pay gaps between top executives and...
October 3, 2019Howard Gleckman
State and Local Issues: TaxVox

Michigan: Let’s Tax (Not Ban) Vape Products

Policymakers concerned about the growth of vaping activity could ban vaping products. Or they could try to use taxes to discourage the practice. There are advantages and disadvantages to each policy option. The issue is complicated, because an e-cigarette and its products can be used in many ways with sometimes-conflicting effects.
October 2, 2019Renu Zaretsky
Individual Taxes: Distribution Tables by Income Level

T19-0061 - Tax Benefits of the Child Tax Credit (CTC), By Expanded Cash Income Level, 2019

Distribution of tax benefits of the Child Tax Credit and Credit for Other Dependents, as in current law as of January 1, 2019, by expanded...
October 2, 2019