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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....

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Senior Director of Federal Tax Policy

Time to Let “Bonus Depreciation” Expire Permanently

January 13, 2014

One of the first steps by policymakers to stimulate the economy during the Great Recession was to allow businesses to take bigger tax deductions for certain new investments.  Since enacting this temporary provision — often called “bonus depreciation” — in 2008, they have regularly extended it (albeit at a less generous rate since 2012).

Bonus depreciation expired at the end of last year...

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Senior Director of Federal Tax Policy

Paying for Jobless Benefits But Not “Tax Extenders” Has It Backwards

January 13, 2014

As Congress debates whether to extend expired federal unemployment insurance (UI) benefits, the issue of offsetting its costs has become a flash point.  At the same time, members of both parties are pushing to extend several dozen tax breaks that expired at year-end (mostly for corporations), with little concern about whether they are paid for.  That’s backwards.

The...

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Senior Director of Federal Tax Policy

Congress Should Pay for Any Last-Minute “Tax Extender” Package

December 18, 2013

Politico reports this afternoon that the Senate may try to pass a package of “tax extenders” (targeted tax breaks set to expire at the end of the year) before they leave town for the holidays.  This graph shows why policymakers should fully pay for any such package.

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Paying for the “extenders” that Congress continues would have...

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Senior Director of Federal Tax Policy

Tax Incentives for Retirement Savings Are Ripe for Reform

December 13, 2013

12-13-13tax-f1-infocus.pngReforming the costly and poorly targeted tax incentives for retirement saving could not only raise revenue for deficit reduction and tax reform goals, but also do more to encourage low- and moderate-income households — the people who most need to boost their retirement assets — to save more, our...

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Senior Director of Federal Tax Policy

Congress Must Extend Unemployment Insurance: Here’s Another Reason Why

December 5, 2013

We and others warned a year ago that letting the payroll tax expire would hurt the economy.  Policymakers ignored those warnings, and in a new analysis, Goldman Sachs highlights the economic damage that the resulting tax increase has caused in 2013.

Congress now confronts a similar...

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Senior Director of Federal Tax Policy

Hardship in America, 2013: A Portrait of Another John Stewart

November 26, 2013

The Washington Post profiles a very different John Stewart today.  Not Jon, the comedy show anchor, but John, who works for low wages helping elderly people board planes at Philadelphia’s...

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Senior Director of Federal Tax Policy

Latest Baucus Tax Proposal Wisely Avoids Timing Gimmicks and Targets Inefficient Subsidies

November 21, 2013

Senate Finance Committee Chairman Baucus released another discussion draft on tax reform today, this one on accounting issues.  It not only eliminates some major corporate tax subsidies but refuses to use these changes as timing gimmicks to promote deficit-expanding rate cuts.  These...

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Senior Director of Federal Tax Policy

A First Look at the Baucus Draft on International Corporate Tax Reform

November 20, 2013

Yesterday’s staff discussion draft on international corporate tax reform from Senate Finance Committee Chair Max Baucus recognizes the importance of tax reform’s budgetary impact over the long term, not just in the first decade.  It also recognizes that the tax code gives...

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Senior Director of Federal Tax Policy

Feldstein’s Timely Reminder for Budget Negotiators

November 12, 2013

“Current tax rules provide a wide range of subsidies that are equivalent to government spending,” writes Harvard professor and former Reagan advisor Martin Feldstein in today’s Washington Post.  It’s a timely reminder for budget...

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Senior Director of Federal Tax Policy

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