TaxVox: Federal Budget and Economy

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The voices of Tax Policy Center's researchers and staff

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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...
Federal Budget and Economy

The Inflation Reduction Act Primarily Impacts Top 1 Percent of Taxpayers

August 11, 2022 –
In a new analysis , the Tax Policy Center finds the tax provisions of the Inflation Reduction Act (IRA) are highly progressive. Taxes would rise...
Federal Budget and Economy

Joe Manchin Pulled The Plug On Tax Increases. What Happens Next?

July 19, 2022 –
Joe Manchin Pulled The Plug On Tax Increases. What Happens Next? Conservative Democrat Joe Manchin (D-WV) may have effectively sealed the fate of President Biden’s...
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...