TaxVox: Federal Budget and Economy

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The voices of Tax Policy Center's researchers and staff

Business Taxes

The Booming Economy, Not The 2017 Tax Act, Is Fueling Corporate Tax Receipts

June 3, 2022 –
Corporate tax revenues boomed in 2021 and some supporters of the 2017 Tax Cuts and Jobs Act argue that the big tax reductions in the...
Federal Budget and Economy

Should Congress Raise Taxes To Fight Inflation?

June 2, 2022 –
Should Congress Use Tax Hikes To Fight Inflation? In a Monday Wall Street Journal column (paywall), President Biden urged Congress to help fight inflation by...
Federal Budget and Economy

CBO: The Government’s Era Of (Nearly) Free Money Is Over, At Least for Now

May 26, 2022 –
The federal government may once again have an opportunity to learn a painful lesson about the price of increasing debt and rising interest rates in...
Federal Budget and Economy

Why Congress Will Borrow To Help Ukraine But May Pay For New COVID-19 Medical Costs With Offsetting Spending Cuts

May 17, 2022 –
Why is Congress prepared to spend billions of dollars for new aid to Ukraine without requiring offsetting tax increases or spending cuts at the same...
Federal Budget and Economy

Why Another Brutal Filing Season for The IRS May Not Help It Get More Funding

April 18, 2022 –
The Internal Revenue Service has limped through yet another tax filing season, reduced to plugging staffing holes in customer service and returns processing by shifting...

Happy Birthday, TPC

April 1, 2022 –
On April 1, 2002, a press release announced, “The Tax Policy Center, a new joint venture between the Urban Institute and the Brookings Institution” was...
Individual Taxes

Biden’s New Taxes for Billionaires: One Is Hard, One Is Easy

March 31, 2022 –
This week, President Biden proposed two new taxes on the very rich. A minimum income tax that Biden calls a billionaire tax but would in...
Federal Budget and Economy

How the TCJA Affected the Housing Market

March 30, 2022 –
When the Tax Cuts and Jobs Act (TCJA) was enacted, critics claimed that reducing the tax subsidy for mortgage interest would hurt home values ...
Federal Budget and Economy

Note To Governors: Cutting Taxes Will Make Inflation Worse, Not Better

March 15, 2022 –
Note To Governors: Cutting Taxes May Make Inflation Worse Even as Republican governors blast President Biden and congressional Democrats for both causing inflation and failing...

Are Current Hill Tax Plans Enough To Fund A Scaled-Back Climate And Social Spending Bill?

March 10, 2022 –
In a 50-50 Senate where every vote counts, President Biden’s “Build Back Better” (BBB) fiscal agenda has a new name and—if it wants the vote...