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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.

Roundup: Congressional Action on COVID Relief

Both the House and the Senate have passed a fiscal year 2021 budget resolution and will work in the coming weeks to pass urgently needed COVID-19 relief legislation. We’ve excerpted below CBPP’s...

This Year, EITC Awareness Is Even More Essential

Tomorrow, January 29, is the 15th annual Earned Income Tax Credit (EITC) Awareness Day, a time to bring attention to the EITC’s benefits and help more eligible people claim it. That’s all the...