TaxVox: Campaigns, Proposals, and Reforms

Congress Could End Tax Breaks for Gifts to Non-Profits with Political Agendas

August 29, 2022 –

The New York Times reported that Chicago businessman Barre Seid donated his entire business, tax free, to the Marble Freedom Trust, a tax-exempt advocacy organization...

Campaigns, Proposals, and Reforms

Who Will Win The Battle Over Framing The Inflation Reduction Act?

August 23, 2022 –

President Biden and congressional Democrats won a big policy battle when Congress enacted the Inflation Reduction Act (IRA), despite unanimous Republican opposition. But who will...

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

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...

If the IRS Gets $80 Billion, Will Its Agents Come Gunning for You?

August 11, 2022 –

With the near-certain enactment of the Inflation Reduction Act, the Internal Revenue Service is on track for an $80 billion boost to its ten-year budget...

Campaigns, Proposals, and Reforms

What You Need To Know About The Manchin-Schumer Climate and Tax Compromise

July 28, 2022 –

What You Need To Know About The Manchin-Schumer Compromise After more than a year of often-fraught negotiations, Senator Joe Manchin (D-WV) says he has agreed...

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...

Campaigns, Proposals, and Reforms

Will Congress Turn Democratic Tax Hikes Into Bipartisan Tax Cuts?

March 24, 2022 –

A funny thing happened to the trillions of dollars of proposed tax increases on corporations and high-income households that were high on the agendas of...