TaxVox

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The voices of Tax Policy Center's researchers and staff

Will the Ohio Supreme Court Fuel the State’s NASCAR Tax?

November 3, 2021 –
“If you ain’t first, you’re last.” That all-or-nothing motto catalyzes number one NASCAR driver and titular hero in the 2006 spoof, Talladega Nights: The Ballad...

What Is Biden’s Minimum Book Income Tax on Corporations?

November 2, 2021 –
Last week, President Biden proposed a major change in the way some large corporations are taxed. These firms would be required to pay tax on...
Federal Budget and Economy

What is Dynamic Scoring? TPC’s Ben Page and John Buhl Discuss the Basics

November 1, 2021 –
With Congress in the midst of an intense debate over a big new tax and spending bill, policymakers are battling over the costs and economic...
Individual Taxes

How The Democrats’ New Millionaire Surtax Would Work

October 28, 2021 –
How The Democrats’ New Millionaire Surtax Would Work Democrats, scrambling to find a way to tax high-income households that Congress is willing to enact, appear...

The Child Tax Credit Could Be A Lifeline For Puerto Rican Families—But Only If They File

October 27, 2021 –
Among other changes to the child tax credit (CTC), the American Rescue Plan (ARP) made the CTC available to far more families in Puerto Rico...
Shipping containers
Business Taxes

Ways and Means GILTI Reform Proposal Closely Tracks OECD/G-20 Pillar 2

October 27, 2021 –
Recent proposals to reform the tax treatment of US multinationals would increase US revenues substantially, according to an analysis by the Tax Policy Center. The...
State and Local Issues

Gaming The SALT Cap May Be Congress’s Worst Tax Idea Of The Year

October 27, 2021 –
Ever since Congress capped the state and local tax (SALT) deduction in 2017, a small group of Blue State Democrats has demanded the cap’s repeal...
Business Taxes

Wyden’s Billionaire Income Tax Is Ambitious But Problematic

October 25, 2021 –
Senate Finance Committee Chairman Ron Wyden (D-OR) likes to say : “There are two tax codes in the United States: one for workers who pay...
Business Taxes

Looming R&D Capitalization Would Hit Manufacturing And Tech Sectors Hardest

October 25, 2021 –
US taxation of intellectual property (IP) is facing big changes. Starting next year, research and development (R&D) expenditures, now fully expensed (written off in the...

Where Are Families Most At Risk Of Missing Out On The Expanded Child Tax Credit?

October 21, 2021 –
The expanded and fully refundable child tax credit (CTC) will lift millions of children out of poverty in 2021. But many very low-income children may...