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Estate Tax Repeal: A Misguided and Costly Policy

March 25, 2015

Eliminating the federal estate tax on inherited wealth, which the House Ways and Means Committee approved today and which we’ve explained would increase deficits and inequality, is a misguided — and expensive — policy, new data show.  New...

Estate Tax Repeal = More Inequality + Bigger Deficits

March 24, 2015

As our new paper explains, the House Ways and Means Committee is scheduled to consider a bill this week to repeal the federal estate tax on inherited wealth, just one week after the House Budget Committee approved a budget plan calling for $5 trillion in program cuts...

House Budget Chair’s Priority: Tax Cuts for Well-to-Do

March 18, 2015

While imposing harsh budget cuts on the most vulnerable Americans, House Budget Committee Chairman Tom Price’s budget plan also appears to reflect a continuing drive to cut taxes for the nation’s highest-income people.

Federal Budget - Capitol Dome

Lee-Rubio Tax Plan Heavily Tilted Toward Top, Contrary to Tax Foundation Claims

March 11, 2015

The Tax Foundation (TF) took issue with our post explaining that the...

Personal Taxes - 1040

Lee-Rubio Tax Plan: Huge New Windfall at the Top, Lost Child Credits at the Bottom

March 4, 2015

The new tax plan from Senators Mike Lee (R-UT) and Marco Rubio (R-FL) builds on Senator Lee’s 2014 plan and creates something that’s even more tilted — outrageously so — in favor of the...

A Double Standard on Tax Compliance

February 13, 2015

House Ways and Means Committee Chairman Paul Ryan suggested recently that Congress should expand the Earned Income Tax Credit (EITC) for childless adults and non-custodial parents and fully offset the cost by reducing EITC overpayments.  But he and other House Republicans voted today to permanently extend an expensive small-business tax break without offsetting the cost, such as by...

House GOP Restarts Effort to Make “Tax Extenders” Permanent

February 11, 2015

The House is scheduled to vote tomorrow on the first of an expected series of bills to make permanent many large “tax extenders” — tax breaks, mostly for corporations, that policymakers routinely extend a year at a time — without offsetting the cost.  Tomorrow’s bill would make popular charitable-related tax provisions permanent, which many lawmakers support on policy grounds.  But, as...

Obama Budget Would Restore Much-Needed IRS Funding

February 3, 2015

The President’s fiscal year 2016 budget would reverse a large share of the Internal Revenue Service (IRS) funding cuts of recent years, which have shrunk overall IRS funding as well as funding to enforce the nation’s tax laws by nearly one-fifth.  While the boost would still leave IRS funding 5 percent below 2010 levels, after adjusting for inflation, it would restore...

Paul-Boxer Repatriation Tax Holiday Can’t Pay for Highways

January 29, 2015

Senators Rand Paul (R-KY) and Barbara Boxer (D-CA) just proposed a “repatriation tax holiday,” which would allow U.S.-based multinational corporations to bring profits they hold overseas back to the United States at a temporary, vastly reduced tax rate.  They claim it would not only “boost economic growth and...

Working-Family Tax Credit Essentials, Part 5: The Impact in Your State

January 27, 2015

Previous posts in this series on our new chart book have explained that the Earned Income Tax Credit (EITC) and Child Tax Credit (CTC):

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