TaxVox

The voices of Tax Policy Center's researchers and staff

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Individual Taxes

Biden’s Child Tax Proposal Would Help Many But Presents Administrative Challenges

March 31, 2023 –
President Biden’s fiscal year 2024 budget would revive 2021’s enhanced child tax credit (CTC) with some new twists that seek to make the credit work...
Federal Budget and Economy

A Rundown of Biden’s Proposed Changes To The Taxation Of Foreign Income

March 31, 2023 –
As expected, President Biden’s 2024 proposed budget included several changes to the tax treatment of foreign income. Although prior attempts to rewrite these tax rules...
Individual Taxes

$4 Trillion In US Wealth Is Stashed Overseas, Much Of It In Tax Havens

March 28, 2023 –
$4 Trillion In US Wealth Is Stashed Overseas, Much Of It In Tax Havens A handful of extremely wealthy US taxpayers holds trillions of dollars...
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Federal Budget and Economy

Biden’s Budget Would Raise Taxes On High-Income Households, Cut Them For Many Others

March 23, 2023 –
The revenue provisions of President Biden’s fiscal year 2024 budget would lower after-tax incomes by an average of about $2,300 next year, according to a...
State and Local Issues

State Revenue Forecasts Look Bleak as Revenue Boom Subsides

March 14, 2023 –
States saw robust tax revenue growth in fiscal years 2021 and 2022, largely caused by federal and state policy actions. But forecasts now look much...
california state capitol building
State and Local Issues

Viewing ARPA Aid for States and Localities Through a Great Recession Lens

March 14, 2023 –
As the American Rescue Plan Act (ARPA) celebrated its two-year anniversary on March 11, some applauded a law that sped an economic recovery while others...
stock exchange prices for different companies
Business Taxes

Stock Buyback Excise Taxes: What We Know And Don’t Know

March 10, 2023 –
Companies now spend more than a $1 trillion annually to repurchase their stock, in lieu of paying higher dividends to their shareholders, or investing more...
president joe biden
Federal Budget and Economy

A First Look At The Revenue Provisions Of Biden’s 2024 Budget

March 9, 2023 –
A First Look At The Revenue Provisions Of Biden’s 2024 Budget President Biden’s 2024 budget would raise taxes by more than $4.5 trillion over the...

What Paul Krugman Gets Wrong About Social Security

March 6, 2023 –
People may disagree about whether to raise taxes or limit the growth of benefits to extend the solvency of the Social Security trust funds. But...
president obama signing the affordable care act
Individual Taxes

Biden May Propose Using Net Investment Income Tax Revenues to Shore Up Medicare

March 2, 2023 –
President Biden may propose allocating revenue from the 2010 Affordable Care Act’s Net Investment Income Tax (NIIT) to maintain solvency of Medicare’s Part A Hospital...