Tax Policy Center

Tax Policy Center

State and Local Issues: TaxVox

Note to Federal Tax Reformers: Don’t Forget the States

While most presidential candidates are proposing big, bold changes to the federal tax code, they seem to be paying little attention to what those revisions would mean for state and local governments. And those implications could be substantial. That, at least, was the consensus at today’s panel
March 31, 2016Howard Gleckman
Campaigns, Proposals, and Reforms: TaxVox

The Challenges of Modeling Presidential Tax Plans

The Challenges of Modeling Presidential Tax Plans The Committee for a Responsible Federal Budget sponsored a fascinating discussion yesterday on estimating presidential candidate tax plans. My Tax Policy Center colleague Len Burman, Kyle Pomerleau of the Tax Foundation, and Bob McIntyre of Citizens
March 10, 2016Howard Gleckman
Campaigns, Proposals, and Reforms: TaxVox

Sanders Proposes A Tax Increase of Historic Proportions

Democratic presidential hopeful Bernie Sanders has proposed a tax increase of $15.3 trillion over the next decade, according to a new analysis by the Tax Policy Center. The tax hikes-- which would help finance Senator Sanders’ ambitious new spending programs for health care, education, and family
March 3, 2016Howard Gleckman
Federal Budget and Economy: TaxVox

Rubio’s Ambitious Consumption Tax Would Reduce Revenue by $6.8 Trillion, Give Most Benefits to the Highest-Income Households

Senator Marco Rubio would convert the income tax into a progressive consumption tax, an ambitious idea that would eliminate the income tax’s penalty on saving. However, a new Tax Policy Center analysis finds that Rubio’s version would slash federal tax revenues by $6.8 trillion over the next decade
February 10, 2016Howard Gleckman
Business Taxes: TaxVox

What Are the Consequences of a Financial Transactions Tax?

All three Democratic presidential hopefuls, Hillary Clinton, Martin O’Malley, and Bernie Sanders, have proposed financial transactions taxes (FTTs). But could such a levy raise much money and reduce financial sector risk, as their supporters hope? Perhaps, according to a report by my Tax Policy
January 20, 2016Howard Gleckman
Campaigns, Proposals, and Reforms: TaxVox

Bernie Sanders Is Proposing Really Big Tax Increases

It is hard to grasp the enormity of the tax increases Bernie Sanders is proposing , how far out-of-step he is with recent economic history in the U.S., and what a stunning contrast he presents with Republican presidential hopefuls. Where Sanders backs tax increases of more than $1 trillion a year
January 18, 2016Howard Gleckman
Campaigns, Proposals, and Reforms: TaxVox

Five Questions to Ask When You Look at a Presidential Candidate’s Tax Plan

I recently suggested that voters look seriously at the tax proposals being touted by presidential candidates, even though those plans have little chance of ever becoming law as proposed. But what should those voters look for as they sort through these complex ideas? Here are five questions you
December 29, 2015Harvey Galper
Campaigns, Proposals, and Reforms: TaxVox

Trump Would Slash Taxes for the Top 0.1 Percent By An Average of $1.3 Million, Add Nearly $10 Trillion to the Debt

Donald Trump’s tax plan would add $9.5 trillion to the national debt from 2016 to 2026 and another $15 trillion in the following decade (before added interest), according to a new analysis by the Tax Policy Center. Nearly all households would get a tax cut under the plan, averaging about $5,100 in
December 22, 2015Howard Gleckman
Federal Budget and Economy: TaxVox

The TaxVox Lump of Coal Awards for the Ten Worst Tax Ideas of 2015

It is time for TaxVox’ s annual Lump of Coal awards for the worst tax ideas (or most depressing tax stories) of 2015. As always, choosing the Top 10 was not easy, but here they are: 10. The Michigan House . Lawmakers tried to pay for new transportation projects by eliminating the state’s earned
December 21, 2015Howard Gleckman
Campaigns, Proposals, and Reforms: TaxVox

Why You Should Pay Attention to the Presidential Candidates’ Tax Proposals

The presidential election is nearly a year away, but many candidates have already rolled out detailed tax reform plans. On the GOP side, we’ve seen proposals from Jeb Bush (the subject of a rigorous Tax Policy Center analysis ), Marco Rubio, Ted Cruz, and Donald Trump, among others. Among Democrats
December 15, 2015Harvey Galper