TaxVox: Economic effects of tax policy

Understanding R&D Tax Breaks and Reform Options

June 21, 2023 –

In recent years, businesses have been able to fully deduct expenses related to research and development (R&D) in the year the investment was made (often...

solar panel farm with windmill in the background

Federal Budget and Economy

House GOP Plan To Repeal IRA Incentives Would Hike Taxes For Households, Tilted Toward High-Income Earners

May 3, 2023 –

House Republicans on April 26 passed legislation on a party-line vote a bill that would rescind many Inflation Reduction Act (IRA) clean energy tax incentives in exchange...

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...

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...

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...

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...

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 ...