Tax Policy Center

tax reform

Federal Budget and Economy: TaxVox
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 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
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
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
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
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
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
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
Campaigns, Proposals, and Reforms: TaxVox
After President Obama proposed, and rapidly abandoned, a plan to curb the tax advantages of Sec. 529 college savings accounts, several wise observers, including my friend David Wessel at Brookings, saw an object lesson for broad-based tax reform. To wit: If lawmakers can’t ditch a single $1 billion
January 30, 2015Howard Gleckman
Federal Budget and Economy: TaxVox
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
January 28, 2015Steven M. Rosenthal