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JCT: Senate Tax Bill Benefits Well-Off the Most, and Millions of Low- and Middle-Income People Face Tax Increases

November 13, 2017

The tax bill that the Senate Finance Committee will consider this week provides the largest benefits to those with the highest incomes, the Joint Committee on Taxation (JCT) confirms with new estimates. While...

Budget and Tax Reform - magnifying glass

Doubling Estate Tax Exemption Would Give Windfall to Heirs of Wealthiest Estates

November 9, 2017

Senate Finance Committee Chairman Orrin Hatch’s new tax bill would double the value of estates that’s exempt from the estate tax, from $11 million per couple ($5.5 million per person) to $22 million per couple ($11 million per person). That would:

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Number of Estates Facing Estate Tax Has Plummeted

Doubling Exemption on Estate Tax, Then Repealing It, Would Give Millions to Wealthiest Heirs

November 2, 2017

Brady’s bill would immediately deliver large tax cuts to the heirs of the nation’s wealthiest estates.

Doubling Estate Tax Exemption Would Give Wealthiest Estates Each a Tax Cut Worth More than Pell Grants for 1,100 Students

Cruz Calls for Deficit-Increasing Tax Cuts — Even Worse Than Bush’s

September 15, 2017

Congress should “dispense [with] the handcuffs of revenue neutrality and pass a real tax cut,” Senator Ted Cruz said this week. As we’ve explained, enacting a tax bill that loses revenue and increases deficits...

Fiscal Path Very Different Today Than When Bush Tax Cut Enacted

How President Trump’s Tax Plan Would Really Affect the Middle Class

August 30, 2017

President Trump is set to speak in Missouri today where he will reportedly continue to tout his tax plan’s benefits for the middle class even though it would actually concentrate its tax cuts at the top.

In Focus: Bottom Four-Fifths of Households Would Lose Under Trump Tax Approach, Once Fully Financed

Look Past the “Small Business” Rhetoric to See Trump’s Actual Policies

August 1, 2017

President Trump is expected to make his case for GOP tax plans at a small business event later today. But no matter how much the President and congressional Republicans invoke small businesses and typical workers in their sales pitch for their tax plans, their actual tax and budget policies...

In Focus: Trump-Like Pass-Through Rate Cut Would Not Benefit Low- and Middle-Income Americans

Trump Reversal on International Taxes Could Hurt U.S. Workers

July 26, 2017

Treasury Secretary Steven Mnuchin said today that the Administration places “very, very, very high” importance on its proposal for a territorial tax system that, President Trump...

Trump's Territorial System Would Give Massive Tax Advantage to Foreign Profits of U.S.-Based Multinationals

Corporate Tax Cuts Could Hurt — Not Help — Workers

July 20, 2017

“[The President] is convinced the corporate rate is the only thing that really matters,” a senior Administration official told reporters about President Trump’s push to deeply cut the corporate tax rate as part of a tax plan.  The Administration claims that most of the benefits would flow...

Cutting Corporate Tax Rates Mostly Benefits Those at the Top

Decoding “Deficit Neutral” Tax Bill: Low-Income Program Cuts Pay for Tax Cuts for Wealthy

June 15, 2017

As Republicans craft their tax package, with tax cuts that would go overwhelmingly to the wealthy, and consider how they might offset its large cost, a debate has ensued in Republican circles over whether it should be “revenue neutral” or “deficit neutral.” Behind this jargon lies a policy choice with huge consequences for low- and moderate-income families.

“Revenue neutral” means...

Budget Process - Money Puzzle Pieces

Trump Plan: $2.5 Trillion in Program Cuts for Low- and Moderate-Income People; $2.5 Trillion on Two Tax Cuts for Corporations and Wealthy Heirs

June 1, 2017

President Trump said he was not elected to serve special interests, but instead, “the forgotten men and women of our country, and that’s what I’m doing.” His budget paints a starkly different picture, however, because it would shift trillions of dollars...

Trump Budget: Tax Cuts for Heirs and Corporations, Cuts to Low- and Moderate-Income Programs

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