Report
Benefits of Expanding Child Tax Credit Outweigh Small Employment Effects
The strong benefits of the proposal far outweigh any potential reduction in employment.
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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.
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President-Elect’s Plan Includes Vital EITC Increase for Adults Not Raising Children
The emergency relief plan that President-elect Biden announced yesterday would expand the Earned Income Tax Credit (EITC) for over 17 million adults not raising children at home who work hard...
Parrott: Our Democracy’s Peaceful Levers of Change, Not Lies and Violence, Should Be Celebrated and Strengthened
While we are relieved that some sense of democratic order was restored, we remain deeply troubled by the events of this day and the fractures in our country they reveal once again....
Strengthening Medicare Financing
Medicare’s Hospital Insurance (HI) trust fund faces depletion in only about three years, according to the latest projections from the Congressional Budget Office (CBO). To improve program solvency...
Congress Must Help Struggling Families — as It Helped Highly Indebted Companies
COVID-19 and natural disasters from wildfires to hurricanes this year have hit people in low-paying jobs especially hard, with many of them suffering massive job and wage losses. Now, many of these...
30 Days Left to Help Eligible People Claim Stimulus Payments
Five million Americans who were hit hardest by the current health and economic crisis risk missing out on $6 billion in CARES Act stimulus payments if they don’t file the required online form...
Trump Payroll Tax Action Won’t Work, Could Endanger Social Security and Budget
President Trump’s executive action to allow the deferring of payroll tax payments will provide little or no near-term economic stimulus. Meanwhile, its potentially chaotic new rules will create...
Greenstein: Trump COVID-19 Executive Actions Woefully Inadequate, Legally Dangerous
President Trump’s new executive actions should deeply concern all Americans. They fall dramatically short of responding effectively to the enormous need across the country due to COVID-19 and the...
Expanding Child Tax Credit and Earned Income Tax Credit Would Benefit More Than 10 Million Rural Residents, Strongly Help Rural Areas
Like the low-income portion of the Child Tax Credit, the Earned Income Tax Credit is disproportionately important to people in rural...
“Look-Back” Tax Change Would Help Working Families, Economy
Bipartisan House and Senate bills would protect low- and moderate-income families from a financial hit at tax time next year by letting them base their Earned Income Tax Credit (EITC) and Child...
State Outreach Can Get Stimulus Payments to as Many Eligible Residents as Possible
About 12 million Americans risk missing out on the CARES Act’s stimulus payments because they did not receive payments automatically from the...