Tax Policy Center

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Federal Budget and Economy: TaxVox

CBO Thinks The TCJA Will Cost $433 Billion More Than Last December’s Estimate. What Happened?

In its April fiscal update , the Congressional Budget Office estimated that the Tax Cuts and Jobs Act (TCJA) would increase the federal debt by...
April 30, 2018Benjamin R. Page
: TaxVox

Most Taxpayers’ Benefits Come Mainly from the TCJA’s Individual Provisions, But the Rich Get Much of Their Tax Cuts from Corporate Changes

The Tax Cuts and Jobs Act (TCJA) affects the after-tax income of households in two ways: directly through the individual income tax and indirectly through...
February 19, 2018Benjamin R. Page
: TaxVox

The TCJA Will Create More Complexity For Taxpayers Than It Claims

Among the most complex provisions of the Tax Cuts and Jobs Act (TCJA) is its special tax deduction for income earned by pass-through businesses. In...
January 5, 2018C. Eugene Steuerle
: TaxVox

How the Corporate AMT Affects Different Industries

The Senate’s last-minute decision to preserve the corporate alternative minimum tax (AMT) has drawn strong opposition from business and its advocates. Its fate now lies...
December 14, 2017Chenxi LuJoseph Rosenberg
: TaxVox

Comparing Estimates of the Macroeconomic Effects of Tax Policy: Growth Rates vs. Levels

In recent weeks, we have seen many different estimates of how the Tax Cuts and Jobs Act (TCJA) would affect the US economy. These projections...
December 14, 2017Benjamin R. Page
Federal Budget and Economy: TaxVox

Dynamic Scoring Forum: Three Things You Should Know About Dynamic Scoring

This is one of a series of guest TaxVox blog posts discussing dynamic scoring. The House recently changed the rules of budget scoring: The Congressional Budget Office and the Joint Committee on Taxation will now account for macroeconomic effects when estimating the budget impacts of major
February 27, 2015Donald Marron
Individual Taxes: TaxVox

Dynamic Scoring Forum: Now We Really Need More Information

This is one of a series of guest TaxVox blog posts discussing dynamic scoring House Ways & Means Committee Chairman Paul Ryan has claimed that the House dynamic scoring rule would generate more information. But the new rule asks for an official cost estimate that reflects only a single estimate
February 25, 2015Chye-Ching Huang
Federal Budget and Economy: TaxVox

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
Individual Taxes: TaxVox

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