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Everything You Should Know about Taxing Carbon

By :: June 25th, 2015

Climate change is hot. From the pope’s encyclical to the upcoming United Nations conference in Paris, leaders are debating how to slow and eventually stop the warming of our planet. We economists think we have an answer: put a price on carbon dioxide and the other gases driving climate change. When emissions are free, businesses, […]

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Obama Would Simplify and Expand Spending and Tax Subsidies for Child Care

By :: January 22nd, 2015

President Obama proposed three important changes to the way the federal government helps families with child care costs – increase direct subsidies for low-income families, increase tax credits for middle- and higher income families, and simplify the tax code (and offset some of the cost of the other changes) by eliminating flexible spending accounts for […]

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Why the More Generous Child and Earned Income Tax Credits Should Be Made Permanent

By :: December 3rd, 2014

co-authored with William G. Gale While most of the tax drama these days is focused on the fate of 50+ mostly-business tax breaks that expired nearly a year ago, lawmakers are also debating two provisions that are enormously important to low- and moderate-income households-the Child Tax Credit (CTC) and Earned Income Tax Credit (EITC). Temporary […]

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CBO Says Federal Tax Revenues Will Rise Because Of Higher Individual Income Taxes

By :: September 3rd, 2014

Last week’s Congressional Budget Office fiscal update largely focused on the dangers of rising spending on health care, Social Security, and interest on the debt. But it also projected a significant increase in federal revenues, almost entirely due to a big bump in individual income taxes. CBO projects that individual tax revenue will climb well […]

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Does Congress Really Care About the Deficit? Not When It Comes to Vets and Highways.

By :: August 7th, 2014

Next time a lawmaker starts to pontificate about the desperate need to reduce the budget deficit, remind him (or her) about what Congress did just before it left town last week. It passed two bills that are extremely important, but didn’t pay for either of them. And they are likely to add tens of billions […]

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Same-Sex Couples and Taxes

By :: March 25th, 2013

The 1996 Defense of Marriage Act (DOMA) was not primarily a tax law but it certainly affects the federal taxes that same-sex couples pay. In fact, taxes are the basis for the second of the two cases concerning same-sex marriage that the Supreme Court will hear this week. Although the federal government generally recognizes state […]

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By :: July 21st, 2011

The debt limit contretemps in Washington during these sweltering summer days threatens to end in financial disaster if Congress and the president can’t agree on legislation raising the cap on federal government borrowing. As everyone recognizes, there will be no solution unless competing factions that demand sharply different policies can compromise. The problem lies in […]

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Tax Reform Won’t Happen in 2011 (or 2012)

By :: December 28th, 2010

Much as I hate to write these words, tax reform isn’t going to happen in the coming year, or even in the year after that. The bipartisan tax deal reached by President Obama and Congress earlier this month, along with a few kind words about closing tax loopholes from a handful of GOP lawmakers, has […]

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The Tax Vox 2010 Lump of Coal Award, Job-Killing Edition

By :: December 23rd, 2010

It’s time for Tax Vox’s fourth annual Lump of Coal Award, given to 2010’s worst moments in fiscal policy. Bad law, outrageous rhetoric, and months of inaction made it tough to choose, but here are our Top 10 nominees: 10. A GOP leadership that sees “job-killers’ everywhere. The health bill was a job killer. The […]

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Obama-GOP Compromise Tax Plan on TPC's Tax Calculator

By :: December 22nd, 2010

In a flurry of lame-duck activity, Congress quickly passed the Obama-GOP compromise tax plan and the president signed it into law. TPC has incorporated the new law into its Tax Calculator so you can see how the act will affect individual tax bills. The Tax Calculator lets you compare tax liabilities under the new tax […]

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