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ACA Repeal’s Tax Cut to the Very Top Colliding with “Mnuchin Test”

January 13, 2017

Republican plans to repeal the Affordable Care Act (ACA), which will deliver billions in tax cuts to the nation’s highest-income households, won’t meet the test outlined by President-elect Trump’s Treasury nominee, Steven Mnuchin — that we won’t see an “absolute tax cut for the upper class.”

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Kansas Offers Cautionary Tale for Federal Tax-Cut Plan

December 9, 2016

Tax-cut advocate Arthur Laffer tells the Financial Times that tax cuts like President-elect Trump’s plan, which would overwhelmingly benefit the wealthiest Americans, would...

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Reports Bolster Calls to Expand EITC for Childless Workers

September 6, 2016

As we’ve noted, expanding the Earned Income Tax Credit (EITC) for workers who aren’t raising children in the home would boost labor force participation, reduce poverty, and ensure that the benefits of economic growth are shared more broadly — especially if...

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Working-Family Tax Credits Lift Millions Out of Poverty

September 16, 2015

The Earned Income Tax Credit (EITC) and low-income portion of the Child Tax Credit (CTC) together lifted about 10 million Americans out of poverty in 2014, new Census data show — including more than 5 million children, more than any other federal program does.  These figures use Census’ Supplemental Poverty Measure (SPM), which counts taxes and non-cash benefits as well as cash income. ...

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Money-Losing Tax Holiday Can’t Pay for Highways

June 23, 2015

A House subcommittee hearing tomorrow will explore tapping U.S. multinational corporations’ roughly $2 trillion stockpile of foreign earnings, which have never faced U.S. tax, to help pay for infrastructure investments.  ...

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Four Facts About the Tax Code’s Marriage Penalties — and Marriage Bonuses

April 13, 2015

A subject that frequently comes up during tax season is the “marriage penalty” that some couples face under the federal income tax — that is, they pay more tax by filing jointly as a married couple than if...

Timing Gimmick Alert on Corporate Tax Reform

March 3, 2015

As we’ve explained, timing gimmicks pose a threat to fiscally responsible corporate tax reform.  A recent comment by Dr. Laura Tyson, a University of California, Berkeley professor and an adviser to a coalition of American businesses that favor comprehensive corporate tax reform, illustrates the...

The Risks of Dynamic Scoring

February 26, 2015

In a guest TaxVox blog post for the Tax Policy Center’s series on “dynamic scoring,” I discuss some of the risks of a new House rule requiring dynamic scoring for official cost estimates of tax reform and other major legislation.  Under dynamic scoring, those estimates would...

Paul-Boxer Repatriation Tax Holiday May Hide True Long-Term Costs

February 5, 2015

Explaining why the “repatriation tax holiday” proposal from Senators Rand Paul (R-KY) and Barbara Boxer (D-CA) actually would lose revenues (so it couldn’t pay for highway construction as they...

Previewing the Obama Budget’s Tax Proposals

February 2, 2015

Below are some key facts and resources about some tax proposals we expect the President’s budget to include.  Stay tuned for more analysis once the budget is released this morning.

Reforming Capital Gains Taxes

The tax code strongly favors income from capital gains — increases in the value of assets, such as stocks — over income from wages and salaries.  These...

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