Reports by Chuck Marr
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GOP Tax Proposal Risks a Substantial Tax Shift From High-Income Households to Low- and Middle-Income Households
November 18, 2011
The Toomey plan from Republican negotiators on the deficit-reduction "supercommittee" would produce only a modest increase in revenues — about $300 billion over ten years, relative to a baseline that assumes Congress extends all of the Bush tax cuts. But it would accomplish this through what appears to be … -
Repeal of Contractor Withholding Provision Would Encourage
Tax Abuse
October 26, 2011
The House will vote tomorrow on whether to repeal a 2006 law designed to fight tax abuse by private contractors for federal, state, or local governments. Congress and President George W. Bush enacted the 2006 law after the Government Accountability Office (GAO) uncovered widespread tax abuse by government contractors. … -
Video: A Discussion with Jared Bernstein and Chuck Marr on Tax Repatriation
October 20, 2011
Congress is considering a temporary "repatriation tax holiday" that would allow corporations to bring their overseas profits back to the United States at a fraction of the normal corporate tax rate. Proponents claim that corporations would then invest these earnings in the United States, but the evidence shows that a tax holiday would fail to boost the economy while increasing deficits and encouraging companies to locate jobs and future investments overseas.
In this video, Jared Bernstein and Chuck Marr discuss the proposal and its likely harmful impact.
Duration: 7:19
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Media Briefing: The Effects of a Repatriation Tax Holiday
October 13, 2011
The Center on Budget and Policy Priorities held a conference call briefing to discuss the impacts of a heavily lobbied proposal to allow U.S.-based multinational companies to pay sharply lower taxes on the profits they return from overseas. This is popularly known as a “repatriation tax holiday.”
Speakers will included Edward Kleinbard, former Chief of Staff of the non-partisan Congressional Joint Committee on Taxation and now Professor of Law at the University of Southern California and the author of a new important study that bears on these issues; Chuck Marr, the Center’s Director of Federal Tax Policy; and Center President Robert Greenstein, who will serve as moderator.Duration: 16:02
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Repatriation Tax Holiday Would Increase Deficits and Push Investment Overseas
October 12, 2011
Despite proponents' claims to the contrary, a proposal to enact a second tax holiday for the profits that U.S.-based multinational corporations bring back to the United States from foreign accounts would cost tens of billions of dollars in federal revenue — boosting deficits and debt – while not achieving its proponents' promise of … -
“Supercommittee” Should Develop Balanced Package of Tax Increases and Spending Cuts
September 27, 2011
The new congressional committee on deficit reduction (the so-called "supercommittee") not only can consider revenue increases, but must consider them — as well as spending cuts — if it's going to produce a balanced plan. [1] There are five main reasons why. Spending cuts alone can't do the job. … -
Letting Payroll Tax Cut Expire Would Shrink Worker Paychecks and Damage Weak Economy
September 7, 2011
Failure by Congress to extend the temporary payroll tax cut enacted last December would reduce all paychecks starting on January 1, withdrawing needed support from the still-weak economy. The measure, part of the tax cut-unemployment insurance deal between President Obama and Republican leaders, reduces the employee share of the Social … -
Tax Holiday for Overseas Corporate Profits Would Increase Deficits, Fail to Boost the Economy, and Ultimately Shift More Investment and Jobs Overseas
Updated June 23, 2011
Momentum is growing in Congress behind legislation to enact another “repatriation tax holiday” that allows multinational corporations to bring profits held overseas back to the United States and pay tax on them at a rate of only about 5 percent (rather than the normal tax rate on corporate profits). But the … -
Under House Budget, “Tax Reform” Places Top Priority on High-Income Tax Cuts and Ignores Deficit Reduction
Updated May 26, 2011
The tax proposals in the budget that the House approved on April 15 place a top priority on cutting taxes for high-income people, while doing nothing to reduce budget deficits, themselves. [1] In addition to making the Bush tax cuts permanent and continuing to provide relief from the Alternative Minimum Tax … -
Reforming Tax Expenditures Can Reduce Deficits While Making the Tax Code More Efficient and Equitable
April 15, 2011
With the federal budget on an unsustainable path, our country’s fiscal problems need to be addressed in a way that is both effective and equitable. Scaling back and reforming “tax expenditures” — spending that is delivered through the tax code rather than government programs — should be an important part … -
Tax Foundation Figures Do Not Represent Typical Households’ Tax Burdens
April 12, 2011
This report has been updated. Click here for the updated analysis. Executive Summary Each year, the Tax Foundation releases a report projecting “Tax Freedom Day,” which it describes as the day when Americans will have “earned enough money to pay this year’s tax obligations at the federal, state, and local levels.” [1] The Tax … -
Ryan Plan’s “Path to Prosperity” Is Just for the Wealthy
April 6, 2011
House Budget Committee Chairman Paul Ryan’s name for his budget — “The Path to Prosperity” — is a cruel joke. One of this nation’s core beliefs is that if you work hard and act responsibly, you can get ahead, raise a family, and have a decent life. That was never more true than in the three decades after World War II, when the path to …
