TaxVox: Federal Budget and Economy

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The voices of Tax Policy Center's researchers and staff

Federal Budget and Economy

Just How Big is the Payroll Tax Cut?

February 20, 2012 –
The 2-percentage-point payroll tax cut extended by Congress in December and again last week will save workers a total of $114 billion this year, according...
Federal Budget and Economy

Perspectives on Tax Reform from Rudy Penner and Donald Marron

February 17, 2012 –
In the current issue of the journal The International Economy , ten economic thinkers shared their views on how best to restructure the tax system...
Federal Budget and Economy

President’s 2013 Budget Would Enable Almost All Americans to Save for Retirement

February 16, 2012 –
The new 2013 budget unveiled by President Obama on Monday again contains the Automatic IRA , which was developed by Brookings' Retirement Security Project in...
Federal Budget and Economy

Congress Figures Out How to Finance a Payroll Tax Cut: Borrow the Money

February 15, 2012 –
It looks like Congress is about to assume its default position: In the face of an intractable partisan dispute over how to pay for a...
Individual Taxes

Raising Revenue in a Progressive Manner Without Raising Tax Rates

February 14, 2012 –
Amidst the myriad proposals in President Obama’s budget are two "big ideas" that would raise revenue in a progressive manner without raising taxes. These important...
Federal Budget and Economy

Taxes in Obama’s Budget: Few Specifics but Some Big Principles

February 13, 2012 –
When it comes to taxes, President Obama has proposed what might best be called a conceptual budget —a powerful call for tax reform that is...
State and Local Issues

What Tax Reform Would Mean for the States

February 7, 2012 –
What would fundamental changes in the federal tax code mean for state and local governments? Would it limit their ability to raise or borrow money?...
Federal Budget and Economy

Tax Extenders and Tax Reform

February 2, 2012 –
On Tuesday, I testified before the Senate Finance Committee at a hearing titled “ Extenders and Tax Reform: Seeking Long-Term Solutions .” I was already...
Campaigns, Proposals, and Reforms

What a Value-Added Tax Would Mean for the Tax Code—and the Economy

January 31, 2012 –
A well-designed Value-Added Tax could simplify the tax code for most households and finance significant reductions in corporate and individual income tax rates without adding...
Federal Budget and Economy

Why Higher Taxes Will Have to be Part of the Medium- and Long-Term Fiscal Solution

January 23, 2012 –
If we are going to reduce the medium- and long-deficit, new tax revenues must be part of the solution. And those taxes must be progressive...