tax reform

: TaxVox

Charting a Course for Tax Reform: Might Feel Familiar, Won’t Be Easy

On the Hill: Taxpayer protection sought, tax reform input needed. The Senate Finance Committee holds a hearing today on protecting taxpayers from scams during the current tax filing season. Yesterday, panel Chairman Orrin Hatch and Ranking Member Ron Wyden announced their effort to solicit ideas on

March 12, 2015Renu Zaretsky

Rubio-Lee Hints at Tax Reform's Troubling Direction

Republican Senators Marco Rubio and Mike Lee have introduced what should probably be thought of as the first major set of tax proposals in the 2016 Presidential election. While their proposals are unlikely to be enacted, they hint at the troubling direction that tax reform debates seem to be headed

March 11, 2015William G. Gale

Federal Budget and Economy: TaxVox

Watch What You Wish For: Dynamic Scoring Creates More Issues for the GOP

As TaxVox readers know by now , House Republicans now require the Joint Committee on Taxation and the Congressional Budget Office to include macroeconomic effects when they produce budget scores of major bills. The GOP hoped this would show that tax cuts would generate so much new economic activity

March 10, 2015Howard Gleckman

Campaigns, Proposals, and Reforms: TaxVox

The Rubio-Lee Tax Reform Plan Raises Important Issues But Would Add Trillions to the Debt

The newest entrants in the tax reform sweepstakes are senators Marco Rubio (R-FL) and Mike Lee (R-UT). Their plan is filled with a number of interesting and credible ideas but ducks many important questions. And, while it is not accompanied by a budget score, the elements that it specifies would

March 4, 2015Howard Gleckman

Individual Taxes: TaxVox

What We Hear When We Talk About Taxes... Musings of a Tax Hound

It’s been just over a year since I started posting TPC’s Daily Deduction. It’s high time I let you in on a little secret: Whenever...

March 4, 2015Renu Zaretsky

Federal Budget and Economy: TaxVox

Dynamic Scoring Forum: Three Things You Should Know About Dynamic Scoring

This is one of a series of guest TaxVox blog posts discussing dynamic scoring. The House recently changed the rules of budget scoring: The Congressional Budget Office and the Joint Committee on Taxation will now account for macroeconomic effects when estimating the budget impacts of major

February 27, 2015Donald Marron

Campaigns, Proposals, and Reforms: TaxVox

Lawmakers Talk Tax Reform But Keep Pushing New Tax Subsidies

It is hard not to notice that while policymakers are talking tax reform they are walking tax deform. The more they vow to lower tax rates and eliminate targeted tax preferences (close loopholes in Congress-speak), the more bills they push to create new subsidies or juice up old ones. Yesterday, the

February 12, 2015Howard Gleckman

: Daily Deduction

Tax Preferences, Investigations, and Settlements

Senator Hatch: The rich may pay more under tax reform but he won’t raise their rates. The Finance Committee Chairman said after yesterday’s hearing that while he would not raise rates on upper-income taxpayers, those folks might have to give up some favorite tax preferences in order to achieve

February 11, 2015Renu Zaretsky

Federal Budget and Economy: TaxVox

The President’s Capital Gains Proposals: An Opening for Business Tax Reform?

In his budget proposal, President Obama would raise capital gains taxes as a way to finance middle class tax relief. Along with many Republicans, he also supports tax rate cuts for business and efforts to prevent multinational corporations from avoiding U. S. taxation. This raises an intriguing

February 6, 2015C. Eugene Steuerle

Business Taxes: TaxVox

Do Obama’s Corporate Tax Proposals Add Up?

The tax proposals in President Obama’s 2016 budget combine two interesting ideas for international reform with his often-stated--but still vague-- goal of a broad-based corporate tax overhaul. First, the framework: Obama has once again proposed cutting the corporate tax rate to 28 percent from the

February 4, 2015Howard Gleckman