Tax — Federal

What Would Congress’s Inaction Cost Working Families?

Unless Congress acts, key Child Tax Credit (CTC) and Earned Income Tax Credit (EITC) provisions will expire at the end of 2017, pushing 17 million people — including 8 million children — into or deeper into poverty. 

Our new interactive calculator allows you to explore what’s at stake for low- and moderate-income families if three important provisions expire at the end of 2017.

 

Signs of Momentum on Corporate Inversions

As the current uptick in inversions shows, corporate tax lawyers have found ways around the 2004 anti-inversion provisions. Policymakers should approve legislation that strengthens the bipartisan response from a decade ago — and soon. Waiting for corporate or international tax reform will only invite more tax avoidance-driven corporate exits.

Related: Congress Should Promptly Enact Legislation to Help Close Tax-Driven Corporate “Inversions” Loophole

Additional tax analyses:

 

Basics

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.

Policy Basics:
-
The Child Tax Credit
- The 2001 and 2003 Tax Cuts
- Where Do Our Federal Tax Dollars Go?
- The Estate Tax
- The Earned Income Tax Credit
- Deficits, Debt, and Interest

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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.

By the Numbers

Spending Through the Tax Code Skews Towards the Top
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