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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...

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...