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Key Questions Biden Will Need to Answer About His First-Time Down Payment Tax Credit
November 30, 2020
There are many benefits to a first-time homebuyer tax credit, such as the one proposed by President-elect Joe Biden. However, the transition from the...
Biden’s First-Time Homebuyer Tax Credit Is A Big Improvement Over The Mortgage Interest Deduction
October 22, 2020
A $15,000 tax credit to help new homebuyers with their down payment is a significant improvement over today’s primary subsidy for homeowners.
How Would Paydown Affect The Reform Of Home Mortgage Interest Deduction?
July 21, 2020
Reforming the mortgage interest deduction (MID) could raise federal tax revenue and make the tax system more progressive. But some taxpayers, especially those with high...
State and Local Issues
Critics Argue The Property Tax Is Unfair. Do They Have A Point?
March 9, 2020
Last month, an Idaho lawmaker called the property tax “ inherently evil ” and suggested the state repeal it and replace the foregone revenue with...
How Income Taxes Interact With Racial Disparities
January 30, 2020
Because the IRS does not ask for a tax filer’s race or ethnicity on tax forms, examining the relationship between race and the tax system...
TPC Launches A New Resource For Understanding Tax Expenditures
January 28, 2020
Would you be surprised to learn that in addition to the $1.3 trillion the federal government will spend on Medicare, Medicaid , and related health...
The Tax Cuts And Jobs Act Reduced Tax Expenditures But By Much Less Than The 1986 Tax Reform Act
December 10, 2019
For years, tax reformers have advocated reducing marginal tax rates, broadening the tax base, and eliminating provisions that provide special benefits to select forms of...
Homeowners, Can You Pay Down Mortgage Debt Through Asset Rebalancing?
November 20, 2019
Several changes in the Tax Cuts and Jobs Act (TCJA) significantly reduce the tax benefits of taking out a home mortgage (though these changes are...
The TCJA’s Cap On Mortgage Interest Deductions Tells Us That Taxes Matter, Up To A Point
September 13, 2019
When Congress passed the Tax Cuts and Jobs Act in December of 2017, it made a number of changes to the individual income tax (almost...
TPC Is Improving Its Modeling Of Five Tax Expenditures
December 18, 2018
In a new initiative, the Tax Policy Center is improving its modeling of five key tax expenditures: the tax treatment of pass-through entities, charitable giving,...
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© Urban Institute, Brookings Institution, and individual authors, 2020.