Income tax (individual)

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Testimony
Individual Taxes

Reflections on the Tax Cuts and Jobs Act

Mark Mazur, Director of the Urban-Brookings Tax Policy Center, testified before the Joint Economic Committee during a hearing entitled “Unleashing America’s Economic Potential.” In his testimony, Mazur presented a review of the principles of desirable tax policy, clear and less clear findings...

April 11, 2018
Mark J. Mazur
Research report
Business Taxes

Neutral Tax Reform with 15 Percent Business Income Tax Rate

The Trump administration has announced the broad outlines of a tax reform plan that contains many provisions similar to those in the House GOP tax reform “blueprint” announced last year, but there are fundamental differences in the provisions affecting businesses and investors. While different,...

August 22, 2017
James R. Nunns
Working paper
Individual Taxes

A Synthetic Income Tax Return Data File: Tentative Work Plan and Discussion Draft

Administrative tax data contain a wealth of information that is potentially valuable for research and analysis. However, the legal and ethical imperative to protect taxpayer privacy has restricted access to a small number of government analysts and select researchers. We propose to develop in...

June 30, 2017
Leonard E. Burman, Alex Engler, Surachai Khitatrakun, James R. Nunns, Sarah Armstrong
Brief
Individual Taxes

The Standard Deduction and Personal Exemption

This year, Congress will consider what may be the biggest tax bill in decades. This is one of a series of briefs the Tax Policy Center has prepared to help people follow the debate. Each focuses on a key tax policy issue that Congress and the Trump administration may address. This brief looks at...

February 6, 2017
Richard C. Auxier
Brief
Individual Taxes

Itemized Deductions

This year, Congress will consider what may be the biggest tax bill in decades. This is one of a series of briefs the Tax Policy Center has prepared to help people follow the debate. Each focuses on a key tax policy issue that Congress and the Trump administration may address. This brief explores...

January 27, 2017
Chenxi Lu
Research report
Individual Taxes

Effects of Reforms of the Home Mortgage Interest Deduction by Income Group and by State

This report considers three options for restructuring the home mortgage interest deduction – replacing the deduction with a 15 percent non-refundable interest credit, reducing the ceiling on debt eligible for an interest subsidy to $500,000, and combining the substitution of the credit for the...

December 6, 2016
Chenxi Lu, Eric Toder
Research report
Individual Taxes

An Option to Reform the Income Tax Treatment of Families and Work

The income tax provisions related to families and work—filing status, rate schedules, the standard deduction, personal exemptions, the child and earned income tax credits, and the taxation of dependents—are complex, too small to encourage work for many low earners, and unfair to some families....

December 5, 2016
James R. Nunns, Elaine Maag, Hang Nguyen
Research report
Campaigns, Proposals, and Reforms

Families Facing Tax Increases Under Trump's Tax Plan

Donald Trump’s tax plan would cost about $6 trillion over 10 years. Trump claims his plan would cut taxes for every income group, with the largest tax cuts for working- and middle-class families. But despite its enormous price tag, his plan would actually significantly raise taxes for millions...

October 28, 2016
Lily L. Batchelder
Research report
Individual Taxes

Revisiting the State and Local Tax Deduction

Many federal tax reform proposals would eliminate the state and local tax (SALT) deduction. Although deficit reduction often is the rationale, there are arguments for eliminating the deduction based on economic efficiency, equity, and improved federal fiscal policy. Eliminating the deduction,...

March 31, 2016
Frank Sammartino, Kim S. Rueben
Brief
Individual Taxes

Why Individual Income Tax Revenues Grow Faster Than GDP

Using the latest long-term budget projections from the Congressional Budget Office, we project that individual income tax revenues under current law will increase as a share of GDP from a little over 9.5 percent in 2025 to a little less than 13.3 percent in 2090, an increase of over 3.7...

September 1, 2015
James R. Nunns, Jeffrey Rohaly