Tax — Federal
The President’s new tax proposals would raise revenues from high-income and wealthy filers and devote much of the savings to other tax proposals that would benefit low- and moderate-income filers.
Estimates from the Urban-Brookings Tax Policy Center (TPC) show that the President’s proposals are quite progressive, but some readers are interpreting those estimates as meaning that low- and middle-income families get only modest benefits. That’s not the case. Read more
- Greenstein: White House Tax Proposal Will Benefit Economic Growth and Help Millions of Middle- and Lower-Income Families
- President’s Capital Gains Tax Proposals Would Make Tax Code More Efficient and Fair
House Republicans have amended House rules to require the use of “dynamic scoring” for official cost estimates of tax reform and other major legislation.
The income tax on individuals and the payroll tax, which is deducted from workers’ wages and used to help finance Social Security and Medicare, each made up about 40 percent of federal revenues in 2010. The federal government also collects revenue from corporate taxes, excise taxes, and other sources.
The Center analyzes major tax proposals, examining their likely effects on the economy and on the government’s ability to address critical national needs, especially over the long term. We place particular emphasis on the effects of tax proposals on households at different income levels. In addition, we analyze trends in the level of federal revenues, income distribution, and tax burdens.
January 30, 2015
Updated January 28, 2015
Updated January 20, 2015
January 18, 2015
January 17, 2015
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