Economic effects of tax policy

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The TCJA Didn’t Change Child Benefits For Most Families With Children By Very Much

October 8, 2019 –
The Tax Cuts and Jobs Act (TCJA) significantly changed how families with children were treated under the individual income tax, but for many - changed...
Federal Budget and Economy

How To Remake The TCJA Into Pro-Growth, Progressive Tax Reform

October 7, 2019 –
The Tax Cuts and Jobs Act (TCJA) cut federal tax revenues by nearly $2 trillion over its first decade, with almost all the benefit going...
Individual Taxes

Anybody Can Itemize Their Deductions. But Most Don’t Want To

September 5, 2019 –
It is sometimes said that the Tax Cuts and Jobs Act of 2017 (TCJA) ended the ability of millions of taxpayers to claim itemized deductions, and...
Federal Budget and Economy

Forms and Follies: IRS Midcourse Corrections of Tax Forms

September 3, 2019 –
The great architect Louis Sullivan once wrote , “form follows function.” I can’t help but wonder if, in the less stable world of tax, new...

States Must Be Aware Of How Big Changes In Federal Law Affect Their Revenue Codes

August 19, 2019 –
All states with an income tax link to the federal tax system to some degree. This system of federal-state conformity helps taxpayers by standardizing the...
Federal Budget and Economy

The US Economy Reverts To A Pre-Tax Cut Growth Rate

August 1, 2019 –
The economic benefits of the Tax Cuts and Jobs Act (TCJA) seem to have petered out. The US economy grew robustly in late 2017, perhaps...
Federal Budget and Economy

Post TCJA Bonuses Were Mostly a Timing Shift, Not A Boost In Long-Term Worker Pay

July 16, 2019 –
A spike in announcements of bonus payments for workers followed the passage of the Tax Cuts and Jobs Act (TCJA) in December 2017, and President...
Individual Taxes

Most AMT Taxpayers Paid Lower Taxes After TCJA, Despite SALT Cap

July 10, 2019 –
A new Tax Policy Center analysis finds that the vast majority of households that paid the Alternative Minimum Tax (AMT) before the 2017 Tax Cuts...
Federal Budget and Economy

The Post-TCJA Economy Continues To Grow

May 7, 2019 –
The beginning of the US economy’s second year under the Tax Cuts and Jobs Act was largely positive, though some troubling signs lurked just beneath...

A Cool Tool That Shows How Various Elements Of The TCJA Affect Revenues And Incomes

March 26, 2019 –
How did key elements of the 2017 Tax Cuts and Jobs Act (TCJA) affect the after-tax incomes of various income groups? And what would happen...