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Americans for Tax Reform (ATR) and the Canadian Taxpayers Federation (CTF) recently published a report, " Major Penalty for High Taxes ," that claims taxes...

October 9, 2015Richard C. Auxier

: Daily Deduction

The best laid plans of candidates and lawmakers often go awry.

Democratic presidential candidate Hillary Clinton has a Wall Street tax plan. She will propose a tax on high frequency trading that would target securities transactions with excessive levels of order cancellations. Is there a strong case for a financial transaction tax? TPC’s Len Burman considers

October 9, 2015Renu Zaretsky

State and Local Issues: Brief

Coordinating Workforce and Economic Development under WIOA

Economic Development Strategies, Information Brief 2

This brief looks at the Workforce Innovation and Opportunity Act of 2014 (WIOA) and its emphasis on coordination between economic development and workforce development programs. In fact, one WIOA’s main purposes is to better align workforce and economic development systems, more tightly connecting

October 9, 2015Lauren Eyster

State and Local Issues: Brief

GASB 77: Reporting Rules on Tax Abatements

Economic Development Strategies, Information Brief 1

This information brief looks at new rules the Governmental Accounting Standards Board (GASB) has issued requiring state and local governments to disclose certain tax abatements in the annual financial report. This new requirement will make information about tax abatements at the state and local

October 9, 2015Norton Francis

Campaigns, Proposals, and Reforms: TaxVox

Making Wall Street Pay: Proposals from the Campaign Trail

Both Bernie Sanders and Hillary Clinton recently proposed new Wall Street taxes, which reflect their strikingly different philosophies (and, perhaps, their different personalities). Bernie’s proposal is bold—he squeezes Wall Street to fund programs for our country’s future. Hilary’s proposal is

October 8, 2015Steven M. Rosenthal

Federal Budget and Economy: TaxVox

Why Dump the Cadillac Tax?

Economists love the Affordable Care Act’s Cadillac tax, the excise tax on high-cost employer sponsored health insurance plans. Well, maybe not love. But they do like it a lot . In contrast, unions, Republicans, and even Hillary Clinton want to dump the tax . Why? Pretty much for the same reason

October 8, 2015Howard Gleckman

: TaxVox

Questions, Subsidies, Deductions, and Profits

The Senate Finance Committee has some questions for Volkswagen. Chairman Orrin Hatch and Ranking Member Ron Wyden sent the German automaker a letter yesterday. They asked about the “defeat devices” VW used to help its diesel passenger cars meet IRS requirements for the advanced lean-burn technology

October 8, 2015Renu Zaretsky

: Daily Deduction

Who Pays and Who Gains?

How many households will pay no federal income tax in 2015? TPC finds it’s now 45.3 percent , nearly 5 percentage points higher than TPC estimated in 2013. But, as Bob Williams explains , “that doesn’t mean more Americans have moved off the tax rolls… the higher estimate reflects new and better

October 7, 2015Renu Zaretsky

Individual Taxes: TaxVox

The Case of the Carrot in Need of a Stick: A Tax Credit for Paid Family Leave

My husband and I started our family in 2005. We both worked full-time: He for a large multinational corporation, and I for a small nonprofit. My employer offered 12 weeks of unpaid family leave , even though it was too small to be covered under the Family and Medical Leave Act (FMLA). Our family

October 7, 2015Renu Zaretsky

Individual Taxes: TaxVox

New Estimates Of How Many Households Pay No Federal Income Tax

The Tax Policy Center has updated its estimate of the percentage of households that will not pay federal income tax this year. We now figure it is 45.3 percent, nearly 5 percentage points higher than our 2013 estimate of 40.4 percent. But that doesn’t mean more Americans have moved off the tax

October 6, 2015Roberton C. Williams

: Daily Deduction

Evasion, Cuts, Hikes, and Drops

A global crackdown on corporate tax evasion nears finalization. The Organization for Economic Cooperation and Development released its plan to curb tax shelters and make companies pay taxes where they earn profits. US-based multinationals such as Google, Facebook, Starbucks, and Amazon have shifted

October 6, 2015Renu Zaretsky

: Daily Deduction

Hope's Limits, Math, and Cuts

International tax reform bites the dust. The last shred of hope that this Congress could enact international tax reform faded when House Ways & Means Committee chair Paul Ryan conceded that talks with Democratic Senator Chuck Schumer to tie the initiative to the highway bill have failed. With

October 5, 2015Renu Zaretsky

: Daily Deduction

On Taxes and Cost Containment

The “ Cadillac tax ” has a loyal pit crew. A bipartisan group of 101 economists and health experts have co-signed a letter urging Congress to retain the tax on high-cost health insurance plans. A bipartisan group of lawmakers is moving to kill the Affordable Care Act levy, which is scheduled to

October 2, 2015Renu Zaretsky

Campaigns, Proposals, and Reforms: TaxVox

How Investment Managers (And Maybe You) Would Benefit From Trump’s Tax Plan

Donald Trump says he’d eliminate the tax break on carried interest. What he doesn’t say is he’d give the investment managers who now benefit from that scheme an even bigger tax cut than they get today. And, it turns out, Trump’s new tax regime would not only benefit hedge fund managers, but also

October 1, 2015Howard Gleckman