That headline sure sounds geeky. But if you have any interest in future tax reform, immigration reform, or health care reform, the way the Congressional Budget Office scores the budgetary effects of major legislation matters--a lot. And yesterday CBO issued a supplemental analysis of President Obama’s budget that included a full-blown look at how that fiscal plan would affect the economy, and what those economic changes would mean for future deficits.
The Tax Policy Center’s tables showing the distribution of President Obama’s new income tax proposals indicate that some middle-class households would pay more tax than under current law. The Administration says they wouldn't. The reason is that TPC and the White House disagree over what counts as
In his upcoming budget, President Obama will propose to strip away the “loopholes” that permit wealthy individuals to accumulate large amounts in tax-favored retirement plans. He would prohibit a taxpayer from contributing any more to IRAs or other qualified retirement plans once his or her