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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):

Working-Family Tax Credit Essentials, Part 4: Bipartisan Support for Helping Childless Workers

January 23, 2015

Today’s post on our chart book on the pro-work Earned Income Tax Credit (EITC) and Child Tax Credit (CTC) focuses on the most glaring hole in the EITC: it largely excludes childless adults and non-custodial parents.  President Obama and House Ways and Means Chairman Paul Ryan (R-WI) have advanced important proposals to address...

Working-Family Tax Credit Essentials, Part 1: Overview

January 13, 2015

As Congress returns to work this week, a key area of potential bipartisan agreement is strengthening two vital tax credits for working families: the Earned Income Tax Credit (EITC) and Child Tax Credit (CTC).  This series of posts will highlight our new...

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...

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