Bill Gale

House GOP Leadership Would Require Dynamic Scoring of Some Tax Bills. Will It Matter?

Last night, the House Republican leadership proposed new rules that would require the Joint Committee on Taxation and the Congressional Budget Office to incorporate macroeconomic effects of “major” legislation into their official budget estimates. But there may be less to these new rules for so-

December 24, 2014Howard Gleckman

Individual Taxes: TaxVox

Why the More Generous Child and Earned Income Tax Credits Should Be Made Permanent

co-authored with William G. Gale While most of the tax drama these days is focused on the fate of 50+ mostly-business tax breaks that expired nearly a year ago, lawmakers are also debating two provisions that are enormously important to low- and moderate-income households-the Child Tax Credit (CTC

December 3, 2014Elaine Maag William G. Gale

: TaxVox

Executive Privilege, Budget Consequences, and Rolling with the Taxes

Shutdown, Omnibus Spending, Continuing Resolution : So many choices in the wake of an Executive Action. The newly emboldened GOP ( or is it? ) has several options when responding to last night’s executive order on immigration issued by President Obama. After its Thanksgiving break, Congress will

November 21, 2014Renu Zaretsky

: TaxVox

Tax Policy, Tax Outcomes: That’s Entertainment!

Congress is in recess through the mid-term elections. Read the Daily Deduction each Monday until then. “ California, here I come !” It’s official: Democratic Governor Jerry Brown signed into law a $330 million annual incentive program for film and television production. Feature films with budgets

September 22, 2014Renu Zaretsky

: TaxVox

Rules, Reform, Taxes and Wealth: No Harm in Trying?

Maybe the duck will walk again? Lawmakers are putting down their markers on anti-inversion legislation. Top Senate Democrats Dick Durbin and Chuck Schumer have introduced a bill to curb “earnings-stripping” by multinational corporations—a practice where firms maximize U.S. tax deductions for

September 11, 2014Renu Zaretsky

Individual Taxes: TaxVox

Don’t Count on Much Economic Growth From Individual Tax Reform…Or From Tax Rate Cuts

Can individual income tax reform that cuts rates and eliminates subsidies increase economic growth? How about tax cuts by themselves? The answer is: Maybe, but not by much, according to a new paper by the Tax Policy Center’s Bill Gale and Andrew Samwick, director of The Nelson A. Rockefeller Center

September 10, 2014Howard Gleckman

: TaxVox

Inversions, Loopholes, Taxes and TIFs: What’s a Revenue Service to Do?

Inversions: The waiting is the hardest part. At yesterday’s TPC event Treasury Secretary Jack Lew promised an anti-inversion decision “soon,” but committed to no other details . While everybody agrees corporate inversions are done largely to avoid taxes, does Treasury have the authority to prevent

September 9, 2014Renu Zaretsky

: TaxVox

Business Tax Reform: Will Patience Be a Vice?

Treasury speaks on business tax reform at TPC. Tune in this morning. Treasury Secretary Jack Lew will address business tax reform and will be followed by a panel discussion on corporate inversions, a US tax avoidance strategy. The panel includes Sally Katzen of the NYU School of Law, TPC’s Steven

September 8, 2014Renu Zaretsky

: TaxVox

On Credits, Boycotts, and the Economy

Congress is in recess until Monday, September 8. The Daily Deduction will resume its regular schedule when Congress returns. “ There will be credits .” Alaskans like the way oil industry profits are taxed --barely. The state grants a corporate income tax credit for qualified oil and gas service-

September 2, 2014Renu Zaretsky

Campaigns, Proposals, and Reforms: TaxVox

Why Romney’s Tax Agenda Doesn’t Add Up, Even if it Isn’t a Middle-Class Tax Hike

A new paper by Brookings Institution scholars and Tax Policy Center colleagues Bill Gale, Adam Looney, and Samuel Brown is generating lots of media buzz...

August 2, 2012Howard Gleckman