dynamic scoring

Dynamic Scoring Forum: Dynamic Scoring Won’t Be Perfect But it is Worth Doing

This is one of a series of guest TaxVox blog posts discussing dynamic scoring . It is obvious that changes in spending and tax policies affect macroeconomic variables, such as the Gross Domestic Product. The problem is in knowing how much. Different economic models yield very different answers and

February 20, 2015Rudolph G. Penner

Federal Budget and Economy: TaxVox

Tax Vox Will Host an Online Policy Forum on Dynamic Scoring

The House vote to require the Congressional Budget Office and the congressional Joint Committee on Taxation to include macroeconomic effects in some official budget scores is enormously controversial in the policy world and among economists. To help unpack this complex issue, Tax Vox has asked

February 19, 2015Howard Gleckman

: TaxVox

Who Deserves a [Tax] Break Today?

Is dynamic scoring ready for prime time? At a TPC-Hutchins Center program yesterday, backers and critics debated whether congressional scorekeepers should include macroeconomic effects of tax changes when doing a budget score. They disagreed, of course, but did agree that if the tool is used, it

January 27, 2015Renu Zaretsky

Federal Budget and Economy: TaxVox

Is Dynamic Scoring of Tax Bills Ready For Prime Time?

The House has instructed the Joint Committee on Taxation and the Congressional Budget Office to factor in the macroeconomic effects of tax law changes when calculating the official budget score of revenue bills. But are existing models up to the task of what’s commonly called dynamic scoring? A

January 26, 2015Howard Gleckman

: TaxVox

Got Growth? Dynamic Scoring, Deductions and Governors

The GOP says it wants a revolution, but who’s going to change the world? Long touted as a way to prove that tax cuts can pay for themselves by the economic growth they generate, “dynamic scoring” of federal legislation is no simple task. Today’s TPC-Hutchins Center on Fiscal and Monetary Policy

January 26, 2015Renu Zaretsky

: TaxVox

Corporate Tax Reform: No Easy Fixes

Territorial tax systems abroad may not be good models for corporate reform here. A new TPC paper warns against drawing quick and easy conclusions from the territorial tax systems in other developed countries. While Senate Finance Committee Chairman Orrin Hatch and House Ways and Means Committee

January 23, 2015Renu Zaretsky

: TaxVox

To Build a Better Tax Code, You Could Follow the Money

Death and taxes: Inevitable, but not always paired. President Obama wants to change that. In a wide-ranging tax plan he’ll highlight at tonight’s State of the Union address, he’d close “arguably the biggest loophole in the tax code for high-wealth households,” says TPC’s Len Burman. Len explains

January 20, 2015Renu Zaretsky

: TaxVox

New Congress, New Rules, Old Obstacles

The House orders dynamic scoring. On the first day of the new Congress, the House, by a largely party line vote, instructed the Joint Committee on Taxation and the Congressional Budget Office to include macroeconomic effects when it calculates the revenue effects of major tax bills. The rule comes

January 7, 2015Renu Zaretsky

: TaxVox

Cap and Trade Plans, Tax Deadlines, and Rate Drops

Washington Governor Jay Inslee proposes a statewide cap and trade program. The Democrat released details of his carbon pollution market program that would give the state’s Department of Ecology authority to set annual goals aimed at reducing emissions to half of 1990 levels. Inslee would extend the

January 5, 2015Renu Zaretsky

: TaxVox

Will Tax Reforming Be Forgot and Never Brought to Mind?

Congress is adjourned. The Daily Deduction will appear Mondays until it reconvenes. Could Dave Camp’s proposal and the corporate inversion debate prompt tax reform in 2015? TPC’s Bill Gale considers how they might shape developments in 2015. “Camp’s proposal provides the means to think seriously

December 29, 2014Renu Zaretsky