Tax Policy Center

revenue

State and Local Issues: TaxVox

Congress Needs to Understand State Tax Revenue Declines When Drafting COVID-19 Legislation

Aid for state and local governments remains a sticking point in Congressional deliberations over additional relief to address the economic fallout from the COVID-19 pandemic...
December 10, 2020Lucy DadayanKim S. Rueben
Federal Budget and Economy: TaxVox

Despite Trump’s Claims, It Is Hard To See Much Economic Impact Two Years After Passage Of The Tax Cuts And Jobs Act

In last night’s State of the Union address , President Trump declared, “Our economy is the best it has ever been.” And, he added, “If...
February 5, 2020Howard GleckmanAravind Boddupalli
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
State and Local Issues: TaxVox

More than Medicaid: The Full Cost of ACA Repeal and Replace for States

Congressional plans to repeal and replace the Affordable Care Act have governors worried – and with good reason. Although proposals continue to evolve, states stand...
July 11, 2017Tracy Gordon
State and Local Issues: TaxVox

State revenue outlook has few bright spots

As states prepare to debate their fiscal year 2018 budgets, many continue to face tough fiscal outlooks. About half failed to meet revenue targets last...
December 22, 2016Norton Francis
Individual Taxes: TaxVox

The Uneasy Case for a Financial Transaction Tax

In recent years, there has been a resurgence of interest in an old idea—a financial transaction tax, or FTT. In a new paper , The Tax Policy Center has taken an in-depth look at the pros and cons of the levy. We’ve found that even a modest tax would raise a lot of money, and that it would be quite
June 30, 2015Leonard E. Burman
Federal Budget and Economy: TaxVox

CBO Says Federal Tax Revenues Will Rise Because Of Higher Individual Income Taxes

Last week’s Congressional Budget Office fiscal update largely focused on the dangers of rising spending on health care, Social Security, and interest on the debt. But it also projected a significant increase in federal revenues, almost entirely due to a big bump in individual income taxes. CBO
September 3, 2014Roberton C. Williams