Rand Paul

The GOP Debate: Squabbles Over Refundable Credits, Deductions, and Conservatisim

Last night’s GOP presidential debates ( here’s a transcript of the main event) highlighted some important tax policy contrasts among the candidates. One thought refundable credits are conservative economic policy while another did not. Nearly all would preserve deductions for mortgage interest and

November 11, 2015Howard Gleckman

Federal Budget and Economy: TaxVox

Presidential Candidates, “Free Stuff,” and Pixie Dust

Even in its early stages, the 2016 presidential race looks like it will be remembered for two depressing superlatives. The candidates will spend more money than ever before, and they will promise more costly give-aways than any politicians in history. We’ll save the campaign finance story for

October 20, 2015Howard Gleckman

Campaigns, Proposals, and Reforms: TaxVox

Trump Proposes a Huge Tax Cut

Donald Trump, who likes superlatives, has weighed in with his version of a standard cut-the-rates, broaden-the-base tax reform . And like many other GOP tax rewrite proposals, this one appears to be an enormous tax cut skewed largely in favor of high-income households. While Trump claims the plan

September 28, 2015Howard Gleckman

: TaxVox

Big Talk, Growing Opposition

Can the Senate pass a highway bill? Last night, the Senate finally voted to begin debate on its version of a transportation bill. But it is in for a tough slog thanks in part to two GOP presidential hopefuls. Ted Cruz has threatened to tie the Iran deal to the measure. The Texan wants an amendment

July 23, 2015Renu Zaretsky

: TaxVox

When does “repeal” mean “reform?”

Another presidential candidate floats a flat tax, but would it sink under its own weight? This time it’s GOP contender Rand Paul. He’d replace the tax code with 14.5 percent in federal tax on all personal income, including wages, investment income, and rents. He’d repeal the Social Security and

June 19, 2015Renu Zaretsky

Individual Taxes: TaxVox

Rand Paul’s Tax Cut Isn't Quite What It Seems

Unlike those GOP presidential hopefuls who say their tax reforms would raise the same amount of money as the current tax code, even when their actual proposals would not, Senator Rand Paul isn’t being shy. He’s promising a great big fat tax cut (described in this Wall Street Journal column). And

June 17, 2015Howard Gleckman

Business Taxes: TaxVox

What’s Up With the No Climate Tax Pledge?

Do you know about the No Climate Tax pledge ? I didn’t until I read a column over the weekend by the Washington Post ’s always-interesting Catherine Rampell. The vow is sponsored by Americans for Prosperity, a conservative political advocacy group closely associated with the Koch brothers. And it

June 2, 2015Howard Gleckman

: Daily Deduction

On Flat Taxes, Tax Relief, and Evidence

Flat tax chatter: Just small talk or a deeper conversation? The Hill examines GOP presidential hopefuls Rand Paul and Ted Cruz and their ideas for an across-the-board tax rate. A flat tax will disproportionately benefit higher earners, and even some in the GOP say that makes it a non-starter. But

April 21, 2015Renu Zaretsky

: TaxVox

Spending Caps? What Spending Caps?

Up next week: The President’s Budget. President Obama will release his budget for fiscal year 2016 on Monday. The plan would increase spending above the sequester limits of the Budget Control Act of 2011. Steep cuts were triggered in 2013 when Congress failed to reach a budget deal, but were then

January 30, 2015Renu Zaretsky

Individual Taxes: TaxVox

Did Multinationals Use a Foreign Earnings Tax Holiday To Burnish Their Financials Rather Than Reduce Taxes?

We've known for years that the 2004 repatriation tax holiday did little to boost domestic investment or create U.S. jobs, as promised by its backers. Now we are learning that many multinational corporations were not even interested in using the temporary holiday to cut their taxes. Instead,

June 11, 2014Howard Gleckman