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Let Ineffective “Bonus Depreciation” Die Next Year

December 18, 2014

We strongly agree with today’s Washington Post editorial that calls on policymakers to let the “bonus depreciation” tax break, which they extended for a year in the recent “tax extenders” package, expire next...

4 Reasons Why the House Has the Wrong Approach to Tax Extenders

November 20, 2014

Congress is expected during the lame-duck session to address “tax extenders,” a set of tax provisions (mostly for corporations) that policymakers routinely extend for a year or two at a time.  While the Senate has pursued temporary extensions, the House has taken a far different approach that’s flawed on both policy and priorities grounds, as our...

Letting Tax-Credit Provisions Expire Would Push Millions Into Poverty

November 12, 2014

As Republicans and Democrats look for areas where they can work together, they should be able to agree to make permanent three key provisions of two pro-work tax credits: the Child Tax Credit (CTC) and Earned Income Tax Credit (EITC). More than 16 million people in low- and modest-income working families, including 8 million children, would fall into — or deeper into — poverty in 2018 if these...

4 Questions About Lee-Rubio Tax Plan

October 6, 2014

With tax reform potentially on Congress’ agenda next year, the tax plan that Senators Mike Lee (R-UT) and Marco Rubio (R-FL) sketched out recently will...

President Takes Important First Step Against Corporate “Inversions”

September 23, 2014

In an important first step to stem “inversions,” in which a larger U.S. multinational merges with a smaller foreign firm to avoid U.S. taxes, the Treasury announced new rules that not only effectively remove one way that taxpayers subsidize such deals, but also tighten existing limits on them.  The President...

House Republicans’ Wrong-Headed Approach to Tax Extenders

September 17, 2014

House Republicans are putting before the House this week a campaign-oriented bill of wide-ranging measures that have previously passed the House, including repealing portions of the Affordable Care Act and scaling back Dodd-Frank regulations.  The bill, which won’t advance beyond the House due to obvious Senate and White House opposition, also includes business tax provisions that lawmakers...

IRS Commissioner Confirms House-Passed Cuts to IRS Budget Could Be “Catastrophic”

August 25, 2014

IRS Commissioner John Koskinen said, according to Tax Notes, that the effects of House-passed IRS budget cuts would be “very serious if not...

Reagan’s Actions Made Him a True EITC Champion

August 1, 2014

We’ve noted that the Earned Income Tax Credit (EITC), which reduces poverty while encouraging and rewarding work, has enjoyed broad support over the years.  One of its champions was President Reagan, who proposed and then signed a major expansion of it in the 1986 Tax Reform Act.

While Reagan is often quoted as calling...

House GOP Follows Ryan Anti-Poverty Plan With Pro-Poverty Legislation

July 25, 2014

House Budget Committee Chairman Paul Ryan (R-WI) extolled the anti-poverty effects of the Earned Income Tax Credit (EITC) and, in his new poverty proposal, wisely proposed expanding it for childless adults (including non-custodial parents).  The praise that Chairman Ryan correctly gave the...

Ryan Adds Momentum to Expanding EITC for Childless Workers

July 24, 2014

House Budget Committee Chairman Paul Ryan highlighted the Earned Income Tax Credit (EITC) today as one of the most effective anti-poverty programs and joined...

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