TaxVox

The voices of Tax Policy Center's researchers and staff

Congress Could End Tax Breaks for Gifts to Non-Profits with Political Agendas

August 29, 2022 –
The New York Times reported that Chicago businessman Barre Seid donated his entire business, tax free, to the Marble Freedom Trust, a tax-exempt advocacy organization...

Immigrants Were Less Likely to Have Received Expanded CTC; Those Who Did Used It for Essentials

August 29, 2022 –
Immigrant parents were less likely to have heard about the 2021 expanded child tax credit (CTC) than parents who were born in the United States,...
student loans
Individual Taxes

Why Student Debt Forgiveness Won’t Include Higher Tax Bills

August 26, 2022 –
President Biden announced plans to forgive $10,000 in student debt for all borrowers with below $125,000 in annual income ($250,000 for couples), while Pell Grant...
Campaigns, Proposals, and Reforms

Who Will Win The Battle Over Framing The Inflation Reduction Act?

August 23, 2022 –
President Biden and congressional Democrats won a big policy battle when Congress enacted the Inflation Reduction Act (IRA), despite unanimous Republican opposition. But who will...
Business Taxes

Rethinking Corporate Taxation Following Passage Of The Book Income Tax

August 18, 2022 –
The new minimum tax on the income that very large corporations report to their shareholders is the revenue centerpiece of the recently enacted Inflation Reduction...
Business Taxes

The IRA’s Green Energy Tax Credits Lose Their Punch Because They Try To Do Too Much

August 17, 2022 –
The Inflation Reduction Act (IRA) just signed by President Biden includes more than $200 billion in energy-related tax subsidies over the next decade. It is,...
Campaigns, Proposals, and Reforms

New Buyback Excise Tax Snares Foreign Investors

August 16, 2022 –
The Inflation Reduction Act (IRA) approved by Congress last week included a new 1 percent stock buyback excise tax on US publicly traded corporations. Many...
Federal Budget and Economy

Ignore the Debate Over Whether the Inflation Reduction Act Raises Taxes on Those Making $400,000 Or Less

August 12, 2022 –
As Congress is about to pass the Inflation Reduction Act, Washington is once again having a breathless debate over very little. This one is about...
Federal Budget and Economy

The Inflation Reduction Act Primarily Impacts Top 1 Percent of Taxpayers

August 11, 2022 –
In a new analysis , the Tax Policy Center finds the tax provisions of the Inflation Reduction Act (IRA) are highly progressive. Taxes would rise...

If the IRS Gets $80 Billion, Will Its Agents Come Gunning for You?

August 11, 2022 –
With the near-certain enactment of the Inflation Reduction Act, the Internal Revenue Service is on track for an $80 billion boost to its ten-year budget...