TaxVox

The voices of Tax Policy Center's researchers and staff

us capitol building
Individual Taxes

Expanding Child Tax Credits Provides More Effective Inflation Relief Than A Higher Standard Deduction

June 8, 2023 –
Representatives Nicole Malliotakis (R-NY) and Michelle Steel (R-CA) have introduced the Working Families Tax Cut Act to increase the standard deduction – which would increase...
new jersey bridge at night
Individual Taxes

New Jersey Property Tax Cut May Not Work As Intended

June 8, 2023 –
A major property tax cut proposal for seniors has New Jersey’s legislative leaders at odds with the governor as the state tries to wrap up...
then-president donald trump signing the tax cuts and jobs act of 2017 into law
Federal Budget and Economy

Buckle Up. 2025 Promises To Be An Historic Year In Tax And Budget Policy

June 7, 2023 –
Now that Congress has passed the Fiscal Responsibility Act (FRA) of 2023 , it isn’t too soon to start thinking about the mess lawmakers have...
computer screen showing chatgpt, an open-sourced artificial intelligence tool
Individual Taxes

How Can Artificial Intelligence Help The Average Taxpayer?

June 7, 2023 –
We still have some time before an artificial intelligence (AI) tool like ChatGPT can prepare our taxes, as my TPC colleague Robert Weinberger reminds us...
Individual Taxes

What The Debt Ceiling Agreement Means For The IRS

June 1, 2023 –
What policymakers give, policymakers can take away. Nine months after Congress enacted President Biden’s proposal to boost the Internal Revenue Service’s 10-year budget by $80...
photo of a pickup truck out in the desert
Business Taxes

Does the “Chicken Tax” encourage people to purchase larger trucks?

May 31, 2023 –
The “Chicken Tax” is a 25 percent tariff on imported light-trucks that was first imposed in 1964, in response to tariffs levied by some European...
president biden delivering his 2023 state of the union before a joint session of congress earlier this year
Federal Budget and Economy

The Debt Limit Battle Produced Plenty of Drama But Few Budget Cuts

May 31, 2023 –
House Speaker Kevin McCarthy (R-CA) and President Joe Biden reached an agreement over the weekend to limit spending for a small fraction of the federal...
artificial intelligence stock photo
Individual Taxes

Will Artificial Intelligence Be Able to Prepare Our Tax Returns?

May 18, 2023 –
In case you’ve somehow missed the flurry of articles describing the dramatic advance of artificial intelligence, we appear to be at the dawn of a...
US Capitol
Federal Budget and Economy

Defaulting On The Debt Could Be “Catastrophic” – Or Worse

May 11, 2023 –
Republican leaders in Congress have refused to raise the federal debt limit unless the Biden Administration agrees to major spending reductions to reduce the national...
photo of a small town shopping area
Federal Budget and Economy

If The US Avoids Default, You May Want To Thank Car Dealers, Real Estate Agents, and Local Bankers

May 9, 2023 –
If the country avoids breaching the debt limit in the next few months , you may not have Wall Street volatility to thank. Or even...