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Posts by Chye-Ching Huang

TPC: Impacts of 2017 Tax Law’s SALT Cap and Its Repeal

October 2, 2018

The $10,000 cap that last year’s tax bill placed on the federal deduction for state and local taxes (SALT) overwhelmingly affects people at the top rather than the middle, new Tax Policy Center (TPC) estimates show, mirroring...

Repealing SALT Cap Would Add to 2017 Tax Law's Upward Tilt, Do Nothing for Working-Class Households

Indexing Capital Gains Would Be Yet Another Tax Cut for Top 1 Percent

August 1, 2018

President Trump’s Treasury Department is reportedly considering issuing a regulation to index capital gains for inflation, which would cost perhaps $100 to $200 billion in the first decade and deliver 86 percent of its benefits to the top 1 percent of tax filers. Along the same lines, House...

Landing - Benefits of Indexing Capital Gains for Inflation Would Flow Almost Exclusively to the Top

GOP’s Stated Concern for Promoting Work Absent from 2017 Tax Law

May 4, 2018

Republican policymakers claim that the damaging changes they’re proposing to SNAP (formerly food stamps), housing assistance, and...

Worker at a Machine

Permanent Extension Would Double Down on 2017 Tax Law’s Fundamental Flaws

May 2, 2018

Treasury Secretary Steven Mnuchin said this week that the Trump Administration would like to “make the middle-class tax cuts permanent,” presumably referring to the 2017 tax law’s individual tax provisions, most of which are set to expire after 2025. But they’re not “middle-class tax cuts”: extending them, as many...

Making New Tax Law's Temporary Individual Provisions Permanent Delivers Largest Tax Cuts to Most Well-Off

Senate Hearing Testimony Highlights 2017 Tax Law’s Fundamental Flaws

April 25, 2018

We’ve previously explained that the 2017 tax law disproportionately benefits the wealthy, is fiscally irresponsible, and ...

quarter on graph

Tax Cuts Must Be Judged by Their Effect on Typical Households

April 25, 2018

The Washington Center for Equitable Growth’s Greg Leiserson provides must-read guides to assess the economic impacts of the 2017 tax law in a new paper and associated...

Filing Taxes

Hassett Changes Story on “Repatriated” Foreign Profits Under New Tax Law

February 27, 2018

With new reports that companies are using their windfall from the new tax law in ways that mostly benefit wealthy investors rather than workers, Council of Economic Advisers Chair Kevin Hassett has revised his explanation of how companies will use foreign earnings they “repatriate” to this country...

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JCT: Millions of Households Face Tax Increase or No Tax Benefit Under Republican Tax Bill

December 19, 2017

Millions of households would face tax increases or get little from the tax bill that the House and Senate are soon expected to pass — even before most of its individual income tax provisions would sunset in 2025, new Joint Committee on Taxation (JCT) estimates show. That’s in stark...

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Final CTC Changes Don’t Alter Tax Bill Basics: 10 Million Working Family Children Get Little or Nothing

December 15, 2017

Last-minute changes to the Child Tax Credit (CTC) that Republican leaders put in their final tax bill do not change the fundamental fact: low-income working families still would largely miss out on the full CTC increase from the current $1,000 per child to $2,000.

Increase in the Child Tax Credit in the Final GOP Tax Bill - Landing Version

Republican Leaders Expanding Repatriation Gimmick in Tax Bill

December 14, 2017

Republican congressional leaders are reportedly making changes to their tax bill — such as cutting the top individual tax rate to 37 percent, from the current 39.6 — that would make the bill costlier and tilt it more to the wealthy. GOP leaders will reportedly “pay for” those added costs, which are...

Money Flying Away

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