Taxpayers can currently deduct interest on up to $1 million in acquisition debt used to buy, build, or improve their personal residences and interest on up to another $100,000 of home equity loans. This brief estimates the effects on revenue and the distribution of the tax burden of proposals that
Extending the charitable deduction deadline is a move with precedent: the government has used it to encourage giving following a natural disaster. However, temporary laws have limited effect. Consider instead allowing charitable deductions made by April 15, aka tax day, to be applied to the
Think of the federal budget as an expression of government priorities described by numbers and words. This week, we’ve seen two widely divergent views of...
Looking for a way to improve the operation of the economy, lower our dependence on foreign oil, reduce pollution, slow global warming, cut government spending,...
House Budget Committee Chair Paul Ryan (R-WI) has proposed a controversial plan to balance the budget in 10 years , entirely by cutting planned spending...
The U.S. faces substantial and unsustainable budget deficits, which will require tax increases and spending cuts to resolve. A carbon tax could raise revenues, with several positive effects: it would improve environmental outcomes, increase economic efficiency, and allow the elimination of selected
The baseline distribution of tax units receiving Pell grants, AOTC, LLC, and Tuition and Fees deduction for all students by adjusted gross income in 2012.
The baseline distribution of students receiving Pell grants, AOTC, LLC, and tuition and fees deduction for all students by adjusted gross income in 2012.
The baseline distribution of tax units receiving Pell grants, AOTC, LLC, and the tuition and fees deduction for undergraduate students by adjusted gross income in 2012.
The baseline distribution of students receiving Pell grants, AOTC, LLC and the tuition and fees deduction for undergraduate students by adjusted gross income in 2012.
Distribution of the federal tax change from replacing the deduction for mortgage interest with a 15 percent non-refundable credit on the first $500,000 of debt, against current law by cash income level in 2015.
Distribution of the federal tax change from replacing the deduction for mortgage interest with a 20 percent non-refundable credit on the first $500,000 of debt, against current law by cash income level in 2015.
Distribution of the tax benefits of the deduction for home mortgage interest, a 15 percent non-refundable credit, and a 20 percent non-refundable credit on the first $500,000 of debt by cash income level in 2015.
State governments face extraordinary challenges in coming years. Tepid recovery from the Great Recession has limited the ability of state governments to expand and add jobs, unlike past recoveries. Concerned about traditional revenue streams, some governors and state legislatures are proposing
