What if we counted tax expenditures as “spending,” and not “tax cuts?” Characterizing tax subsidies as tax cuts rather than spending leads to bigger government, higher taxes, larger deficits, and a misallocation of resources, according to a new paper by TPC’s Len Burman and George Washington

Maybe we all can just get along. At least, that’s what other Swiss banks might be thinking , now that Credit Suisse paid penalties (the tune of $2.6 billion) to end its longstanding dispute with the US and New York for helping Americans dodge US taxes. Swiss Finance Minister Eveline Widmer-Schlumpf

Following the recent offer by U.S drugmaker Pfizer to acquire British pharmaceutical firm AstraZeneca, congressional Democrats are proposing new limits on the ability of U.S.-based firms to establish foreign residence as a way to cut their U.S. corporate tax bill. Even before this latest flap, the

New Jersey won’t tell its residents if it made a tax mistake. About 2,000 of the state’s taxpayers — one percent — paid too much in 2013 state income taxes due to an error on an estimated payment voucher. It’s a small enough share that the state won’t issue a refund unless a taxpayer specifically

Is it possible that U.S.-based multinationals are getting tired of waiting for Congress to enact corporate tax reform? Seeking cash for domestic acquisitions, some of the nation’s best-known firms are starting to bring back their foreign earnings. Some are finding ways to avoid paying tax at all on

Dead Men Ruling , future governing paralyzed. Will 21st century America be able to govern itself, given lawmakers’ effective abdication of the future? In TPC’s Gene Steuerle’s new book, Dead Men Ruling , the prospects are dim. Automatic spending and untouchable tax subsidies have limited government

As expected, the Senate could vote today on tax extenders. Senate Republicans are likely to want to make changes on the floor— meaning even more tax cuts . Just extending the now-expired tax breaks through 2015 could increase the budget deficit by $84.1 billion over the next ten years. Is a pizza a

No PAYGO for R&D. The House plans to vote today to make permanent a research tax credit for businesses, despite Democratic opposition in the Senate and a promised White House veto, and despite the fact that the credit is not paid for . The credit would cost $156 billion over the next decade.

On the Hill yesterday… The House voted 231 to 187 to hold former IRS official Lois Lerner in contempt of Congress. She is the third government official to be held in contempt in the past seven years. Lerner refused to cooperate with the Congressional investigation of IRS treatment of organizations

This morning, the White House released a massive report on the effects of climate change . In sum: The problem is already bad, it is going to get worse, and we need to address it quickly. The science of greenhouse gas emissions and climate change may be clear (though, of course, always evolving).