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Obscure Provision Tilts Senate Tax Bill Even More to Corporations

November 22, 2017

Under an obscure “trigger” provision, the Senate Finance Committee tax bill tilts its tax cuts even more to the nation’s wealthiest corporations at the expense of hard-working families.


CBO and JCT Estimates Show Senate Bill Skewed to Top, Harmful to Low- and Middle-Income Americans

November 18, 2017

As we’ve explained, Joint Committee on Taxation (JCT) estimates show that the Senate Finance Committee tax bill provides by far the largest benefits to high-income people and leaves many low- and middle-income households worse off. A new Congressional Budget Office (CBO) analysis provides estimates for the bill’s impact on Medicaid and other federal health spending that’s not included in the...

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Senate’s “Pass-Through” Tax Cut Favors Biggest Businesses and Wealthiest Owners

November 14, 2017

The tax bill that the Senate Finance Committee will consider this week includes a tax cut for “pass-through” businesses that’s heavily skewed to the biggest businesses and the wealthiest business owners.

Pass-through income is income from businesses such as partnerships, S corporations, and sole proprietorships that business owners claim on their individual tax returns and that’s taxed...


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...

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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:


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