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House Should Reject Backwards Child Tax Credit Bill

July 18, 2014

The full House next week will consider the Ways and Means Committee’s recently passed Child Tax Credit (CTC) bill.  A recent Tax Policy Center (TPC) analysis confirms our...

Chairman Camp’s Troubling Stand on Tax Compliance

July 18, 2014

The House voted this week to wipe out one quarter of the Internal Revenue Service’s (IRS) enforcement budget.  This cut, which would dramatically worsen the hit that the IRS budget has taken since 2010, will further undermine the IRS’s ability to collect taxes that are owed....

Finally, Signs of Momentum on Corporate Inversions

July 17, 2014

First it was Pfizer.  Now it’s Walgreens.  These and a growing list of companies have made headlines as they consider shifting their headquarters overseas — so-called corporate “inversions” — so they can...

House GOP's IRS Budget Cuts: A Field Day for Tax Cheats

July 15, 2014

The IRS has absorbed big cuts in recent years that have weakened enforcement and damaged taxpayer service.  The House Appropriations Committee passed a 2015 IRS budget that would cut the IRS even deeper.  But that wasn't good enough for the full House, based on the cutting frenzy on the House floor over the last day. ...

Don’t Believe the Hype: Permanent “Bonus Depreciation” Not a Positive Step Toward Tax Reform

July 15, 2014

The House has voted to convert “bonus depreciation” — a large, temporary tax break that policymakers adopted during the recession that lets businesses take bigger upfront tax deductions for certain purchases such as machinery and equipment — into a permanent feature of the tax code at very substantial cost.  The Senate should not go along for two fundamental reasons.

First, as we...

House Shouldn’t Reinstate Bonus Depreciation

July 8, 2014

The House is expected to vote this week on a Ways and Means Committee bill that reinstates and makes permanent a tax provision known as “bonus depreciation,” which lets businesses take bigger upfront tax deductions for certain new purchases such as machinery and equipment.  The Ways and Means Committee bill is economically...

Without Extending Key 2009 Improvement, Indexing Child Tax Credit Leaves Out Many Families

June 25, 2014

The House Ways and Means Committee passed legislation today to expand the Child Tax Credit (CTC) in ways that, as we highlighted yesterday, have things...

IRS Funding Cuts Have Weakened Enforcement, Compromised Taxpayer Service

June 25, 2014

House and Senate committees have begun considering next year’s Internal Revenue Service (IRS) budget, and while policy issues like the IRS’s examination of tax-exempt organizations are getting much of the attention, policymakers shouldn’t ignore the damaging effects of the big cuts in IRS funding in recent years, our new paper...

Latest House Tax Bill Prioritizes Credit for Affluent Over Working-Poor Families

June 24, 2014

The House Ways and Means Committee continues to pursue tax bills that advance misplaced priorities.  On Wednesday, the committee will consider a bill that focuses on the Child Tax Credit (CTC), which helps working families...

House Continues Fiscally Irresponsible Tax Extenders Strategy

June 10, 2014

The House plans to vote this week on another bill to make permanent a “tax extender” — a tax break that policymakers in recent years have extended for just a year or two at a time — and, like other such House legislation of recent weeks, do so in a fiscally irresponsible way.  Though the measure is designed to help small business and is, thus, politically popular, lawmakers should reject it....