off the charts
POLICY INSIGHT
BEYOND THE NUMBERS

You are here

Posts on Federal Tax
September 6, 2018

Update, September 14: we’ve updated this post to incorporate new Tax Policy Center data on the plan’s cost estimate and its impact on different income groups.

The House is expected to vote this month on its “2.0” tax plan, which would double down on the...

House GOP's 2.0 Tax Plan Delivers Largest Tax Cuts to Most Well-Off
September 6, 2018

If, as expected, House Republicans vote later this month on their “2.0” tax-cut plan despite its severe flaws, they should fix the glaring shortcomings in its Child Tax Credit (CTC) provision. But there has been no indication that House GOP leaders intend to do so.

Nor would improving the CTC provision do enough to address the overall plan’s flaws. As explained...

Lowest-Income Families Largely Left Out of 2017 Tax Law’s Child Tax Credit Increase
August 31, 2018

Labor Day celebrates workers’ contributions to America’s prosperity. But even as our economy is growing, many people of color and women are struggling to get by on low wages. States can help make work pay by creating or...

Worker at a Machine
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
July 24, 2018

Update, July 25th: We've updated this post.

The House Republicans’ “Tax Reform 2.0” framework doubles down on the 2017 tax law’s fiscal irresponsibility,...

Making New Tax Law's Temporary Individual Provisions Permanent Delivers Largest Tax Cuts to Most Well-Off
July 24, 2018

The House will consider three health-related bills this week that would mainly benefit high-income taxpayers and corporations while doing little to help moderate-income families or the uninsured.  The bills would raise contribution limits for health savings accounts (HSAs) and expand the...

Baby at Doctor's Appointment
July 11, 2018

The House Ways and Means Committee is marking up several bills this week that would raise contribution limits for health savings accounts (HSAs) and expand the allowable uses of these accounts, at a cost of $41 billion over ten years, the Joint Committee on Taxation (JCT) estimates.  As we’ve...

Health Saving Accounts (HSAs) Mostly Benefit High-Income Taxpayers
July 11, 2018

The House Ways and Means Committee will mark up a bill today to delay the excise tax on high-cost health plans (the so-called “Cadillac tax”) by another year, to 2023.  That would be unwise for two reasons: it would lose needed revenue, and it would set back efforts to slow the growth of health care costs.

The...

Form 1040 and Refund Check
June 29, 2018

The International Monetary Fund’s (IMF) recent report on America’s economy echoes many of our criticisms of December’s tax law: it’s tilted to the top rather than the bottom, loses much-needed revenue, and creates a host of opportunities to game the tax code. To...

Form 1040 And Refund Check
June 29, 2018

The Senate Appropriations Committee-approved 2019 budget for the Internal Revenue Service (IRS) would further weaken the agency’s ability to serve taxpayers and enforce the 2017 tax law. At $11.3 billion, the committee’s proposed level for the IRS is below the...

 IRS Funding Has Fallen Sharply, Is Targeted For Deeper Cuts In Senate Committee Bill

Pages