Urban Institute

Biden Proposed Raising Social Security Payroll Taxes By $740 Billion…And Still Got Elected President

An amazing thing happened in this year’s presidential election. A major party candidate proposed raising Social Security payroll taxes. And won.

November 17, 2020Howard Gleckman

Individual Taxes: TaxVox

Where Can Warren Get $32 Trillion To Pay For Her Government Health Plan?

Democratic presidential hopeful Elizabeth Warren says she’ll disclose her plan to pay for universal, public health care within the “next few weeks.” But finding the money won't be easy.

October 25, 2019Howard Gleckman

Individual Taxes: TaxVox

The Story Of Medicare For All And Taxes Is Complex, But Warren And Sanders Have To Tell It

In a new report, my Urban Institute colleagues have estimated that a full-blown Medicare for All plan would increase federal government healthcare spending by a...

October 17, 2019Howard Gleckman

Individual Taxes: TaxVox

The AHCA’s Tax Changes And Transfers Would Benefit the Wealthy, Hurt the Lowest Income Households

The AHCA’s Tax Changes And Transfers Would Benefit The Wealthy, Hurt The Lowest Income Households The House Republican health plan—the American Health Care Act (AHCA)—would...

March 22, 2017Howard Gleckman

Individual Taxes: TaxVox

Little Difference Between the Cadillac Tax and a Cap on the Tax Exclusion for Employer Health Plans

In the face of widespread criticism of the Affordable Care Act’s excise tax on high-cost employer sponsored health insurance plans ( the Cadillac Tax ), some lawmakers have backed an alternative: a cap on the current tax exclusion for employer contributions to health insurance. To learn how the two

October 22, 2015Howard Gleckman

State and Local Issues: TaxVox

Most State Budgets Are Improving But Their Long-Term Prospects Remain Uncertain

If you are not an energy dependent state, things ought to be pretty good, at least in the short-term. The economy is improving, though slowly, The Rockefeller Institute reported this morning that state tax revenues grew by 5.8 percent in the first quarter of this year and by 7.6 percent in the

September 17, 2015Howard Gleckman

Individual Taxes: TaxVox

Marco Rubio Wasn't the Only One Who Cashed Out an IRA Last Year

It is easy to mock Senator Marco Rubio, who cashed out $68,241 in IRA retirement funds last September. The GOP presidential hopeful, who made about $230,000 last year, told Fox News he needed the dough to prepare for his campaign, buy a new $3,000 refrigerator, and fix his busted a/c. As it happens

May 26, 2015Howard Gleckman

Individual Taxes: TaxVox

So Far, Affordable Care Act Users Are Managing Tax Filing, Many Uninsured May Use New Enrollment Period

So far, most people with Affordable Care Act insurance subsidies seem to be filing their taxes without huge problems, despite the complexity of the process. However, about half of those who have filed returns with tax prep firm H&R Block and who owe a penalty for not having insurance, have

February 24, 2015Howard Gleckman

Individual Taxes: TaxVox

How Asset Building Tax Subsidies Miss Their Targets

Nearly one-third of all federal tax expenditures--$384 billion in 2013 alone-- is aimed at various forms of asset building, such as retirement savings, higher education, and home ownership. Yet, according to research by several of my Tax Policy Center and Urban Institute colleagues, these tax

October 7, 2014Howard Gleckman

Individual Taxes: TaxVox

Taxing Employer-Sponsored Insurance Would Hike Social Security Benefits But Boost Federal Coffers

The tax subsidy for employer-sponsored health insurance is huge. Not only are the premiums exempt from income tax, they are also immune from Social Security payroll tax. The two subsidies combined will add more than $1.6 trillion to the deficit over the next five years alone. But because that

May 8, 2014Howard Gleckman