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Posts on Federal Tax
December 5, 2017

As we’ve explained, the tax bill that congressional Republicans are finalizing is step one of a likely two-step tax and budget agenda: enacting costly tax cuts now that are heavily skewed toward wealthy households and profitable corporations, then decrying the enlarged deficits that those tax cuts fuel — and...

Dollar and Columns
December 5, 2017

Low- and moderate-income working families are largely an afterthought in the House- and Senate-passed tax bills, which are heavily tilted to wealthy households and profitable corporations and add significantly to budget deficits. Addressing these fundamental flaws would effectively require the House-Senate conference committee that will iron out differences between the bills to start over and...

JCT and CBO: Senate Tax Bill Cuts Spending, Raises Taxes for Lower-Income Households to Help Pay for Tax Cuts
December 5, 2017

Rushing to pass a tax bill last week, Senate Republicans worsened its harmful provisions and highlighted the worst elements of their process for enacting it.

As the Senate began considering the Finance Committee-approved bill on Wednesday, Congress was already moving on a fast track on...

Capitol - wide view
December 5, 2017

The Senate-passed 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). And, as explained below, Senate Finance Committee...

quarter on graph
December 1, 2017

We’ll be posting updates here throughout the debate.

U.S. Capitol
November 30, 2017

Millions of households would face tax increases or get little from the Senate tax bill – even before most of its individual income tax provisions would sunset in 2025, new Joint Committee on Taxation (JCT) estimates released yesterday show.

E Pluribis Unum Budget
November 30, 2017

Underscoring that large, permanent tax cuts for corporations are President Trump’s highest priority for the Senate tax bill, the President is reportedly opposed to a proposed amendment from Senators...

November 29, 2017

Republican congressional leaders point to Joint Committee on Taxation (JCT) and Congressional Budget Office (CBO) estimates of the pending Senate GOP tax bill to say that every income group would get a tax cut from it. But they use these estimates in highly selective and...

JCT and CBO: Senate Tax Bill Cuts Spending, Raises Taxes for Lower-Income Households to Help Pay for Tax Cuts
November 28, 2017

The tax bill on which the Senate may vote this week would provide an even larger share of its tax benefits to the wealthy than the tax cuts enacted under President George W. Bush, which many lawmakers — including several Republican senators — criticized for their misplaced priorities.

Senate Tax Bill More Skewed to Top Than Bush Tax Cuts -- Even Without Counting Its Health Coverage Effects
November 28, 2017

Note: This post has been updated to correct our interpretation of the Collins-Nelson legislation, which makes available $2.25 billion in net federal funding for reinsurance for two years, equivalent to up to about $4.5 billion in gross funding in each year.

The tax bill passed by the Senate Finance Committee repeals the Affordable Care Act’s individual mandate, the requirement...

Stethoscope and money