TaxVox: Federal revenue

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The voices of Tax Policy Center's researchers and staff

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...
Individual Taxes

Biden’s New Taxes for Billionaires: One Is Hard, One Is Easy

March 31, 2022 –
This week, President Biden proposed two new taxes on the very rich. A minimum income tax that Biden calls a billionaire tax but would in...
Federal Budget and Economy

TPC: The Ways & Means Reconciliation Bill Would Raise Taxes On High Income Households, Cut Taxes On Average For Nearly Everyone Else

September 28, 2021 –
All major provisions of the House Ways & Means Committee’s budget reconciliation tax bill would cut 2022 taxes on average for households making $200,000 or...
Federal Budget and Economy

Neal’s Tax Bill Is Big And Bold, With Hits and Misses

September 14, 2021 –
The most important thing to know about the tax bill proposed by House Ways & Means Committee Richard Neal (D-MA) is that it’s big. The...

How Can Tax and Spending Policy Together Enhance The Wealth Of The Nation?

August 16, 2021 –
Buried in today’s partisan squabbles over President Biden’s ambitious domestic agenda is a fundamental question: How can government best increase the nation’s wealth? Does it...
Business Taxes

Too Many IRS Audits of Big Businesses Result In No Change In Tax Liability

April 19, 2021 –
Change can be good, right? Maybe or maybe not. But if you are the Internal Revenue Service, “no change” audits never are good. And, for...
Federal Budget and Economy

How Could the United States Pay for Reparations?

February 3, 2021 –
A few years ago, Ta-Nehesi Coates wrote a powerful essay, “The Case for Reparations” for The Atlantic . Reparations, he affirmed, would help close the...
Campaigns, Proposals, and Reforms

Treasury Pick Yellen Likes Carbon Taxes and More Pandemic Relief, But Not The TCJA

November 24, 2020 –
Janet Yellen, president-elect Joe Biden’s pick for Treasury Secretary, would come to the job with largely predictable views on tax policy for a mainstream, center-left economist.

How Much More Money Could The IRS Collect If Congress Gave Them More Money?

September 28, 2020 –
Would increasing the Internal Revenue Service’s funding for audits increase tax collections by more than the cost? Yes, if the funds are spent wisely.
Individual Taxes

A New Study Suggests Congress Could Raise Money By Increasing Capital Gains Tax Rates To 47 Percent. But There Is A Catch

September 16, 2020 –
Democratic presidential candidate Joe Biden has proposed raising tax rates on long-term capital gains income for the highest-income investors.