As Congress struggles to pass the Build Back Better bill, some congressional Democrats are exploring new proposals to raise the $10,000 cap on the state...
How The Democrats’ New Millionaire Surtax Would Work Democrats, scrambling to find a way to tax high-income households that Congress is willing to enact, appear...
Senators Mike Crapo (R-ID) and Chuck Grassley (R-IA) recently asked for an investigation into the Internal Revenue Service’s research activities, including its use of contractors...
After the Tax Policy Center published its new analysis of the House Ways & Means Committee’s budget reconciliation tax plan , commentators asked two questions:...
While average effective tax rates barely changed in the US from 1945 to 2015, the average tax rates of high-income households fell sharply—from about 50...
The COVID-19 pandemic and the policy response to it led to an extraordinary increase in the number of American households that owed no federal individual income tax in 2020. The Tax Policy Center estimates that last year more than 107 million households, or nearly 61 percent, owed no income tax or even received tax credits from the government.
