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Policy Basics

The individual income tax and payroll tax together generate 84 percent of federal revenues, while corporate, excise, and other taxes generate the rest.

We analyze major tax proposals, examining their likely impact on the economy, on the nation’s fiscal health, and on the government’s ability to address critical national needs, especially over the long term. We also examine the impact of tax proposals on households at different income levels.

Plan to Rebuild IRS Would Advance Racial Equity

The economic recovery package Congress is developing should incorporate President Biden’s full proposal to rebuild the IRS. That plan, which includes a large, multi-year funding effort and a...