Tax Policy Center

JCT

Federal Budget and Economy: TaxVox
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
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
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
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
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
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
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
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
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
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