TaxVox

The voices of Tax Policy Center's researchers and staff

Why Future Tax Reform Must Look Well Beyond Itemized Deductions

July 24, 2019 –
For decades, the debate over tax reform has focused on lowering rates and broadening the tax base. That is, curbing or even eliminating the annual...

That Stubborn Tax Gap

July 17, 2019 –
About 82 percent of individual and business taxes due are paid voluntarily and on time. But not all taxpayers pay all they owe. Thus, the...
Federal Budget and Economy

Post TCJA Bonuses Were Mostly a Timing Shift, Not A Boost In Long-Term Worker Pay

July 16, 2019 –
A spike in announcements of bonus payments for workers followed the passage of the Tax Cuts and Jobs Act (TCJA) in December 2017, and President...
Business Taxes

The House Should Repair, Not Repeal, The ACA’s Cadillac Tax

July 16, 2019 –
The House is scheduled to vote Wednesday to repeal the 2010 Affordable Care Act’s Cadillac tax on generous employer-sponsored health insurance (ESI). The bill, which...
Individual Taxes

The New W-4 Tax Withholding Form Is Coming Soon. But Why Is The IRS Even Bothering?

July 11, 2019 –
One day soon, the IRS will release its near-final version of the 2020 Form W-4 that workers are supposed to use to calculate their federal...
Individual Taxes

Most AMT Taxpayers Paid Lower Taxes After TCJA, Despite SALT Cap

July 10, 2019 –
A new Tax Policy Center analysis finds that the vast majority of households that paid the Alternative Minimum Tax (AMT) before the 2017 Tax Cuts...
State and Local Issues

Road Rage and Raising Revenue: Is It Time For States To Embrace Even Bigger Gas Tax Increases?

July 3, 2019 –
Michigan was one of 12 states that saw gas taxes increase on July 1. Its rate climbed by only 0.1 cent per gallon because it’s indexed monthly for inflation. In contrast, new legislation doubled gas tax rates in Illinois to 38 cents per gallon and raised the levy by 10.5 cents in Ohio. Can Michigan—and other states—go even bigger?
Campaigns, Proposals, and Reforms

The Ways & Means Committee Takes Its Demand For Trump’s Tax Returns To Court

July 2, 2019 –
The House Ways and Means Committee today filed suit in federal court demanding President Trump’s 2013-2019 tax returns. The Committee says it is seeking Trump’s...
Individual Taxes

The Economic Security Project Proposes A Simpler And More Generous Tax Credit For Low-Income Workers And Caregivers

July 2, 2019 –
Expanding the earned income tax credit (EITC) has support from a wide range of policy experts. Yet the expansion ideas come in many different forms...
Business Taxes

Can The Sanders Financial Transactions Tax Raise Trillions And Cut Speculation?

July 1, 2019 –
Can The Sanders Financial Transactions Tax Raise Trillions And Cut Speculation? Senator and Democratic Presidential hopeful Bernie Sanders (I-VT) has proposed an ambitious financial transactions...