TaxVox

The voices of Tax Policy Center's researchers and staff

Individual Taxes

TPC Estimates The HEROES Act Would Substantially Cut Individual Income Taxes  

May 22, 2020 –
The major individual income tax provisions in the House-passed Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act would cut taxes by an average of...

The CARES Act Charitable Deduction For Non-Itemizers Was A Lost Opportunity To Help Beneficiaries Of Non-Profits

May 19, 2020 –
According to the Joint Committee on Taxation, Congress spent about $1.5 billion in the Coronavirus Aid, Relief, and Economic Security (CARES) Act to create a...
State and Local Issues

TPC Analyzes Five Ways To Replace The SALT Deduction Cap

May 14, 2020 –
The $10,000 annual limit on the state and local tax (SALT) deduction was one of the most contentious provisions of the 2017 Tax Cuts and...
State and Local Issues

Three Ways Congress Should Design COVID-19 Relief for State and Local Governments

May 12, 2020 –
Congress is headed toward a fourth COVID-19 relief package – and arguably the first one directly addressing state and local governments’ pandemic-induced fiscal crisis ...
Individual Taxes

By Overturning the ACA, The Supreme Court Would Cut Taxes Substantially For High-Income Households

May 12, 2020 –
Last week, President Trump said the Administration will urge the US Supreme Court to overturn the entire 2010 Affordable Care Act. While the High Court...
Business Taxes

Capital Gains Cuts Won’t Cure the Covid-19 Economy

May 11, 2020 –
Back in 1991, Saturday Night Live spoofed politicians who see capital gains tax cuts as a panacea. In one sketch, after being frozen for eons,...
Business Taxes

Tax 101: Expenses Reimbursed With COVID-19 Aid Should Not Be Deductible

May 8, 2020 –
Treasury Secretary Steven Mnuchin and the IRS are right: Because the hundreds of billions of dollars the businesses are getting through the Coronavirus Aid, Relief,...
Business Taxes

Restoring The Three Martini Lunch Tax Deduction Won’t Feed The COVID-19 Economy

May 7, 2020 –
One of President Trump’s demands for the next COVID-19 relief bill is restoration of the tax deduction for business meals and entertainment expenses. Since the...
Individual Taxes

CARES Act Support Is Falling Short

May 6, 2020 –
What’s it like to be—or not be—on the receiving end of expanded UI benefits, PPP loans, or direct payments?
Federal Budget and Economy

Did Adding Trump’s Name Slow Down The Mailing of Stimulus Checks? Of Course It Did

April 30, 2020 –
Did the Treasury Department’s decision to put President Trump’s name on the coronavirus stimulus checks slow the mailing of those checks? Of course it did,...