Tax Policy Center

budget deficit

: TaxVox

(Not So) Happy Birthday to the Tax Cuts and Jobs Act

On December 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act (TCJA), the biggest tax overhaul in the United States in...
December 19, 2018William G. Gale
Federal Budget and Economy: TaxVox

The Fiscal Disarmament Of President Trump and the GOP

President Trump, who sees himself as the toughest guy in the room, is, along with his GOP allies in Congress, disarming the federal government’s ability...
February 14, 2018Howard Gleckman
Federal Budget and Economy: TaxVox

Starving the Beast? The Tax Cuts And Jobs Act Seems to Be Feeding It

For decades, a guiding principle for many conservatives was that tax cuts not only boost the economy directly but also by shrinking the size of...
February 6, 2018Howard Gleckman
Campaigns, Proposals, and Reforms: TaxVox

Memo to Steven Mnuchin: Trump’s Tax Plan Would Add $7 Trillion to The Debt Over 10 Years

At his Senate Finance Committee confirmation hearing today , Steven Mnuchin, President-elect Trump’s choice to head the Treasury Department, seemed somewhat confused about the Tax...
January 19, 2017Howard Gleckman
Campaigns, Proposals, and Reforms: TaxVox

How would candidates’ spending plans affect our GDP projections?

The Tax Policy Center, with the help of the Penn-Wharton Budget Model (PWBM), found that in the short-run Hillary Clinton’s tax increases would slow the...
October 21, 2016Leonard E. Burman
Campaigns, Proposals, and Reforms: TaxVox

Imagining Trump And Clinton Fiscal Policy In An Era of Growing Government Debt

The Congressional Budget Office’s long term budget outlook is a curious document. On one hand, a 30-year fiscal forecast will almost certainly be wrong. But...
July 12, 2016Howard Gleckman
Campaigns, Proposals, and Reforms: TaxVox

Sanders’s Domestic Program Would Help Most Households, But Add More Than $18 Trillion to the Debt

Sanders’s Domestic Program Would Help Most Households, But Add More Than $18 Trillion to the Debt. Most American families would receive new government benefits that would exceed their higher taxes under the domestic policy agenda of Democratic Presidential hopeful Bernie Sanders. But even though
May 9, 2016Howard Gleckman
Campaigns, Proposals, and Reforms: TaxVox

Five Questions to Ask When You Look at a Presidential Candidate’s Tax Plan

I recently suggested that voters look seriously at the tax proposals being touted by presidential candidates, even though those plans have little chance of ever becoming law as proposed. But what should those voters look for as they sort through these complex ideas? Here are five questions you
December 29, 2015Harvey Galper
: TaxVox

A Little March Madness on the Hill

The “doc fix” passes the House. The House overwhelmingly approved the Medicare “ doc fix ” to replace automatic payment cuts (that Congress has delayed every year since 2003) with a temporary 0.5 percent annual hike in physician reimbursements. But the bipartisan deal, which CBO figures would add $
March 27, 2015Renu Zaretsky
: TaxVox

Simplification, Shortfalls and Shifted Assets

Today on the Hill. The Senate Finance Committee examines tax complexity , compliance, and administration with an eye toward simplification in tax reform. Witnesses include Carol Markman of EP Caine & Associates, Mihir Desai of Harvard University, Bruce Bartlett, former deputy assistant
March 10, 2015Renu Zaretsky