Tax Policy Center

budget deficit

: TaxVox
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
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
: TaxVox
Corporate tax reform: It wouldn’t affect all businesses. A cut in the corporate tax rate won’t benefit millions of unincorporated businesses, and those firms don’t think that’s fair. These include pass-throughs such as partnerships or S corporations that can range from small businesses like
January 14, 2015Renu Zaretsky
Federal Budget and Economy: TaxVox
Can somebody explain to me why the House agreed last week to restore 50+ tax subsidies without paying for them (and thus adding $42 billion to the deficit) and 10 minutes later approved a new tax subsidy that it insisted on paying for? It can’t be the merits of the recipients. By now, TaxVox
December 9, 2014Howard Gleckman
Federal Budget and Economy: TaxVox
Like a couple of baseball managers working the umpires before a big World Series game, Treasury Secretary Jack Lew and Representative Paul Ryan (R-WI), who wants to be the next chair of the House Ways & Means Committee, are looking to change the way Congress scores tax reform even before
October 9, 2014Howard Gleckman
Individual Taxes: TaxVox
Reducing tax rates is a guiding principal of most tax reform plans. Even Democrats who see reform partly as a tool to boost revenues agree that some money generated by eliminating tax preferences ought to go to rate reduction. But how much does Treasury lose when Congress reduces individual tax
August 21, 2014Howard Gleckman
Federal Budget and Economy: TaxVox
Next time a lawmaker starts to pontificate about the desperate need to reduce the budget deficit, remind him (or her) about what Congress did just before it left town last week. It passed two bills that are extremely important, but didn’t pay for either of them. And they are likely to add tens of
August 7, 2014Howard Gleckman
Campaigns, Proposals, and Reforms: TaxVox
Republican Presidential candidates say--all the time--that they hate budget deficits. A linchpin of each of their campaigns is a promise to slash government and eliminate...
February 23, 2012Howard Gleckman
Campaigns, Proposals, and Reforms: TaxVox
Erskine Bowles and Alan Simpson, co-chairs of President Obama’s Deficit Commission, have released a “ Chairmen’s Mark ,” a broad plan to reduce the federal...
November 12, 2010TPC