Tax Policy Center

tax reform

Individual Taxes: TaxVox
Just about every tax reform plan calls for cutting individual tax rates. But it turns out that a one percentage point across-the-board rate cut would benefit only about six out of 10 households. The biggest beneficiaries: those with the highest incomes. According to a new Tax Policy Center analysis
July 2, 2015Howard Gleckman
Individual Taxes: TaxVox
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
Individual Taxes: TaxVox
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
: Daily Deduction
The House votes to ban taxes on Internet access. Again. But senators still want to link the prohibition to a separate measure that would clarify the ability of states to require online sellers to collect sales taxes. Like that little icon you get when your computer is stuck: The two issues just
June 10, 2015Renu Zaretsky
: TaxVox
WWND: Louisiana lawmakers ask Grover Norquist to weigh in on Governor Bobby Jindal’s tax plan. Eleven members of the state’s House sent a letter to the head of Americans for Tax Reform. They call the SAVE tax credit —Jindal’s proposed tax credit for a non-existent student fee—a precedent that would
June 9, 2015Renu Zaretsky
Federal Budget and Economy: TaxVox
If you still thought there was any chance Congress would pass tax reform before the next election, you can officially abandon hope. In an online interview published Sunday on Morning Consult , Senate Majority Leader Mitch McConnell (R-KY) hammered the last nail in the coffin. Asked about his
June 8, 2015Howard Gleckman
Campaigns, Proposals, and Reforms: TaxVox
GOP Presidential candidate Mike Huckabee recently got into a spirited debate with Fox News anchor Chris Wallace about Huckabee’s proposal to replace all federal taxes with a national retail sales tax, called the FairTax by its supporters. Wallace pointed out that low-income people spend a much
May 27, 2015Leonard E. Burman
Individual Taxes: TaxVox
Last week, I blogged on the many GOP presidential candidates who are talking about tax reform rather than tax cuts. This week, tax historian Joe Thorndike published a rebuttal on the Tax Analysts blog and on Forbes.com . Joe, who is very much in the watch-what-they-do-not what-they-say (WWTDNWTS)
May 19, 2015Howard Gleckman
Federal Budget and Economy: TaxVox
The silence is deafening. Remarkably, Republicans lining up to run for president aren't talking about cutting taxes. Tax reform? Sure. Rate cuts? Absolutely. But so far at least, national Republicans seem more willing to tackle same-sex marriage than big Ronald Reagan/George W. Bush-style tax cuts
May 12, 2015Howard Gleckman
: TaxVox
Everything is bigger in Texas, except tax relief for its low-income residents. Tax cuts are a sure bet in the Lone Star state this year, but it’s hard to provide tax relief to everybody without a state income tax. TPC’s Richard Auxier explains that Texas’ reliance on sales and property taxes makes
May 7, 2015Renu Zaretsky