TaxVox: Federal Budget and Economy

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The voices of Tax Policy Center's researchers and staff

house appropriations committee chair kay granger
Federal Budget and Economy

Balancing The Federal Budget In 10 Years Without Raising Taxes Is….Impossible

January 17, 2023 –
House Republicans say they want to balance the federal budget in 10 years by cutting spending only, and seem to have received a promise from...
US Capitol
Federal Budget and Economy

Here Comes The FairTax … Again

January 12, 2023 –
The idea of replacing all major federal taxes with a national sales tax – and using the opportunity to “abolish” the IRS – has been...
US Treasury building
Federal Budget and Economy

Playing Russian Roulette With The Federal Debt

December 13, 2022 –
Congress should eliminate the debt ceiling this year. It serves no useful purpose. It doesn’t contribute to fiscal discipline, and breaching it entails large, potentially,...

Why TPC Revised Its Estimates Of Business Tax Proposals Pending In the Post-Election Congress

December 7, 2022 –
The Tax Policy Center has revised its estimates of the revenue cost and distributional effects of the business tax cuts included in its analysis of...
Photo of the US Capitol Building from the west side
Federal Budget and Economy

The Tax Debate Is Just Beginning

October 6, 2022 –
The ink on the Inflation Reduction Act is barely dry, but already there are reasons to think Congress may take up more tax issues once...
social security card
Federal Budget and Economy

How The House Is About To Make Social Security’s Finances Worse

September 23, 2022 –
In just 13 years, Social Security trust funds will be unable to pay full promised benefits. Unfortunately, a House bill with broad bipartisan support could...
EV factory
Business Taxes

Industrial Policy Is Back. What Will It Mean For Taxes?

September 13, 2022 –
Industrial policy is trending. At a time when few policy ideas win bipartisan support, government subsidies for favored industries are feeling the love from Democrats...
Federal Budget and Economy

In The Context Of The Federal Budget, The Inflation Reduction Act Wasn’t Very Big

September 12, 2022 –
It’s always tempting to exaggerate the importance of the latest big fight in Congress. The Inflation Reduction Act of 2022 (IRA) made some major policy...
Campaigns, Proposals, and Reforms

New Buyback Excise Tax Snares Foreign Investors

August 16, 2022 –
The Inflation Reduction Act (IRA) approved by Congress last week included a new 1 percent stock buyback excise tax on US publicly traded corporations. Many...
Federal Budget and Economy

Ignore the Debate Over Whether the Inflation Reduction Act Raises Taxes on Those Making $400,000 Or Less

August 12, 2022 –
As Congress is about to pass the Inflation Reduction Act, Washington is once again having a breathless debate over very little. This one is about...