TaxVox: Federal Budget and Economy

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The voices of Tax Policy Center's researchers and staff

Federal Budget and Economy

Revisions To Revenue Projections Suggest That The TCJA Cost More Than Expected

November 5, 2019 –
Last week the Congressional Budget Office (CBO) released a letter that reviewed how its revenue forecasts have declined over the past two years. While we...
Federal Budget and Economy

Saez and Zucman Say Everything You Thought You Knew About Tax Policy Is Wrong

October 23, 2019 –
A new book by economists Emmanuel Saez and Gabriel Zucman, The Triumph of Injustice: How the Rich Dodge Taxes and How to Make Them Pay,...

The TCJA Didn’t Change Child Benefits For Most Families With Children By Very Much

October 8, 2019 –
The Tax Cuts and Jobs Act (TCJA) significantly changed how families with children were treated under the individual income tax, but for many - changed...
Federal Budget and Economy

How To Remake The TCJA Into Pro-Growth, Progressive Tax Reform

October 7, 2019 –
The Tax Cuts and Jobs Act (TCJA) cut federal tax revenues by nearly $2 trillion over its first decade, with almost all the benefit going...
Individual Taxes

Anybody Can Itemize Their Deductions. But Most Don’t Want To

September 5, 2019 –
It is sometimes said that the Tax Cuts and Jobs Act of 2017 (TCJA) ended the ability of millions of taxpayers to claim itemized deductions, and...
Federal Budget and Economy

Forms and Follies: IRS Midcourse Corrections of Tax Forms

September 3, 2019 –
The great architect Louis Sullivan once wrote , “form follows function.” I can’t help but wonder if, in the less stable world of tax, new...
Federal Budget and Economy

Multi-Trillion Dollar Fiscal and Monetary Gambles

August 29, 2019 –
Under pressure from President Trump and worried about a worldwide economic slowdown, the Federal Reserve recently cut short-term interest rates. By continuing to push rates...
Federal Budget and Economy

No, The US Is Not Overtaxed

August 20, 2019 –
No, The US Is Not Overtaxed. Despite what you may have heard, Americans are taxed less than residents of almost any other major developed country...

States Must Be Aware Of How Big Changes In Federal Law Affect Their Revenue Codes

August 19, 2019 –
All states with an income tax link to the federal tax system to some degree. This system of federal-state conformity helps taxpayers by standardizing the...
Federal Budget and Economy

The US Economy Reverts To A Pre-Tax Cut Growth Rate

August 1, 2019 –
The economic benefits of the Tax Cuts and Jobs Act (TCJA) seem to have petered out. The US economy grew robustly in late 2017, perhaps...