Tax Policy Center

Joe Biden

Federal Budget and Economy: TaxVox

Watch Congress Spend And Cut Taxes More, Despite Its Deficit Hang-Wringing

Want to know why the budget deficit is enormous and growing? One reason is that when one political party in Congress proposes new tax cuts...
December 4, 2023Howard Gleckman
Business Taxes: TaxVox

The IRA’s Green Energy Subsidies May Cost More Than Expected. Is That Good Or Bad?

It appears that the green energy tax breaks included in last year’s Inflation Reduction Act (IRA) are more popular among businesses than Congress imagined when...
July 14, 2023Howard Gleckman
Federal Budget and Economy: TaxVox

Buckle Up. 2025 Promises To Be An Historic Year In Tax And Budget Policy

Now that Congress has passed the Fiscal Responsibility Act (FRA) of 2023 , it isn’t too soon to start thinking about the mess lawmakers have...
June 7, 2023Howard Gleckman
Federal Budget and Economy: TaxVox

The Debt Limit Battle Produced Plenty of Drama But Few Budget Cuts

House Speaker Kevin McCarthy (R-CA) and President Joe Biden reached an agreement over the weekend to limit spending for a small fraction of the federal...
May 31, 2023Howard Gleckman
Federal Budget and Economy: TaxVox

If The US Avoids Default, You May Want To Thank Car Dealers, Real Estate Agents, and Local Bankers

If the country avoids breaching the debt limit in the next few months , you may not have Wall Street volatility to thank. Or even...
May 9, 2023Howard Gleckman
Federal Budget and Economy: TaxVox

House Republicans Rethink Tax Increases, At Least For A Minute

House Republicans have, at least temporarily, redefined what they mean by a tax increase. By doing so, they have turned their backs on their decades-old...
May 2, 2023Howard Gleckman
Federal Budget and Economy: TaxVox

How Congress Is Trying to Finesse The Debt Limit While Ignoring The Debt

You can see where this is going. As the US gets ever closer to hitting its borrowing limit sometime this summer, Congress is stumbling towards...
April 27, 2023Howard Gleckman
Federal Budget and Economy: TaxVox

Biden’s Budget Would Raise Taxes On High-Income Households, Cut Them For Many Others

The revenue provisions of President Biden’s fiscal year 2024 budget would lower after-tax incomes by an average of about $2,300 next year, according to a...
March 23, 2023Howard Gleckman
Federal Budget and Economy: TaxVox

A First Look At The Revenue Provisions Of Biden’s 2024 Budget

A First Look At The Revenue Provisions Of Biden’s 2024 Budget President Biden’s 2024 budget would raise taxes by more than $4.5 trillion over the...
March 9, 2023Howard Gleckman
Individual Taxes: TaxVox

Biden May Propose Using Net Investment Income Tax Revenues to Shore Up Medicare

President Biden may propose allocating revenue from the 2010 Affordable Care Act’s Net Investment Income Tax (NIIT) to maintain solvency of Medicare’s Part A Hospital...
March 2, 2023Howard Gleckman