TaxVox: Federal revenue

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 from the current 23.8 percent to...

Campaigns, Proposals, and Reforms

Biden’s Tax Hikes May Be A Tough Sell In 2021. What If He Paired Them With Big Refundable Tax Credits?

August 19, 2020 –

The real question for Biden is how much of his ambitious tax plan could Congress realistically pass next year.

State and Local Issues

TPC Analyzes Five Ways To Replace The SALT Deduction Cap

May 14, 2020 –

The $10,000 annual limit on the state and local tax (SALT) deduction was one of the most contentious provisions of the 2017 Tax Cuts and...

Federal Budget and Economy

Who Should Pay For The Economic Relief From The COVID-19 Crisis?

April 13, 2020 –

As Republicans and Democrats joined hands to provide the most recent of what might be several stages of relief from our national pandemic crisis, almost...

Individual Taxes

Six Reasons Why Trump’s Plan To Delay Tax Filing Won’t Help The Coronavirus Economy

March 12, 2020 –

President Trump says he wants to allow “certain” people and businesses to delay tax filing in an apparent effort to stabilize the economy in the...

Federal Budget and Economy

Trump’s 10 Year Revenue Estimates Would Fall By At Least $3 Trillion With Realistic Economic Assumptions

February 12, 2020 –

The Trump Administration would miss its revenue targets by at least $3 trillion under more realistic economic assumptions...

Federal Budget and Economy

Despite Trump’s Claims, It Is Hard To See Much Economic Impact Two Years After Passage Of The Tax Cuts And Jobs Act

February 5, 2020 –

In last night’s State of the Union address , President Trump declared, “Our economy is the best it has ever been.” And, he added, “If...

Federal Budget and Economy

Revisions To Revenue Projections Suggest That The TCJA Cost More Than Expected

November 5, 2019 –

Last week the Congressional Budget Office (CBO) released a letter that reviewed how its revenue forecasts have declined over the past two years. While we...