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Lee Tax Reform Plan’s Disappointing Details

March 20, 2014

In high-profile speeches on tax reform, Senator Mike Lee (R-UT) has called forcefully for expanding opportunity and helping parents raising children.  Unfortunately, the tax reform plan he recently detailed — which sets two income-tax rates of 15 and 35 percent, eliminates the Alternative Minimum Tax, repeals or reforms some major deductions, and, centrally, creates an additional Child Tax...

A Tax Proposal Worthy of Support

March 19, 2014

As youth across the country mobilize today on “Kick Butts Day” to raise awareness of tobacco’s dangers, it’s worth calling attention to President Obama’s proposal to raise the federal tobacco tax to pay for expanded early childhood education, which he first introduced last year and included again in his 2015 budget.  As we have ...

"Paycheck to Paycheck" Highlights Value of Working-Family Tax Credit

March 19, 2014

By opening a window into the life of Katrina Gilbert, a working mother on the edge of poverty struggling to raise three children, HBO’s new documentary “Paycheck to Paycheck” touches on vital national...

Goldman Sachs Bolsters Case Against Renewing “Bonus Depreciation” Tax Break

March 11, 2014

The business tax break called “bonus depreciation,” enacted in 2008 as a temporary stimulus measure, expired in December, and we’ve cited findings from the Congressional Budget Office, Moody’s Analytics, and others showing that it hasn’t been a particularly cost-effective way to boost the economy...

Camp Roadmap to Paying for Extenders

March 5, 2014

House Ways and Means Chairman Dave Camp’s tax reform plan hasn’t generated a groundswell of support for comprehensive tax reform this year, but it offers two important lessons for the tax issue that Congress likely will address: the “tax extenders,” several dozen lapsed tax breaks (mostly for corporations) that Congress perennially extends.  First, it embraces the principle that...

Obama Budget Would Extend EITC's Pro-Work Success to Childless Workers

March 4, 2014

Update, March 4:  We’ve just updated our in-depth analysis of recent proposals to strengthen the EITC for childless workers.

Building on calls from both sides of the aisle to expand help to low-income childless workers — the sole...

Camp Plan’s Tax Expenditure Cap Marks a Step Forward

February 28, 2014

We’ve criticized its harsh cuts to many working-poor families and likely adverse long-term fiscal effects, but House Ways and Means Chairman Dave...

Four Things to Look for in Chairman Camp’s Tax Reform Plan

February 25, 2014

Four questions are particularly important in evaluating the tax reform proposal that House Ways and Means Committee Chairman Dave Camp (R-MI) is expected to issue tomorrow.

1.    Does it raise needed revenue?

All tax reform plans raise revenue by scaling back tax expenditures (deductions, exemptions, and other preferences).  A key litmus test for the Camp plan is...

President Obama Calls to Expand EITC for Childless Workers, Joining Growing Bipartisan Consensus

January 29, 2014

With President Obama calling for expanding the Earned Income Tax Credit (EITC) for childless workers, as he did in last night’s State of the Union speech, Washington is now well-positioned to take this important step.

Support for such a step was already growing on both sides of the aisle, as we’ve recently ...

A Bipartisan Call to Boost the EITC and Cut Poverty

January 24, 2014

A number of leading liberal lawmakers and policy analysts have long advocated for a stronger Earned Income Tax Credit (EITC) to better assist childless workers — and support for such a step is now growing among conservatives as well, as we explain in our new commentary.

For instance, former George W....