Archive for the ‘Tax Proposals’ Category

Why Most Tax Extenders Should Not Be Permanent

What to do about the tax extenders—or, as my colleague Donald Marron calls them, the “tax expirers”? Restoring the current crop (most of which expired on December 31) for 10 years would add about $900 billion to the deficit. House Ways & Means Committee Chair Dave Camp (R-MI) and Senate Finance Committee Chair Ron Wyden […]

House Republicans Punt on Tax Reform

The House Republican budget, released today by Budget Committee Chair Paul Ryan (R-WI), kicks the tax reform can down the road yet again. Not only does it fail to enhance chances for a tax code rewrite, it almost certainly sets the effort back. This budget isn’t so much an actual fiscal plan (the framework for […]

Thank You, Dave Camp

House Ways & Means Committee Chair Dave Camp (R-MI), who said yesterday that he’ll retire from Congress at the end of the year, will leave behind an enormously important achievement.  At a time when too many of his fellow lawmakers substitute easy partisan rhetoric for hard work, Camp wrote a serious tax reform plan. His […]

Should Tax Reform Be Sold on Values Instead of Economics?

Maybe the best way for tax reformers to get political traction is to focus on values, not economics. That, at least, was one take-away from three political scientists who spoke at a Tax Policy Center panel today. Until now, backers of reform have focused primarily on economic arguments: A reformed tax code would increase growth […]

Mission Impossible? An Upcoming TPC Panel Will Explore the Politics of Tax Reform

Everyone agrees that the tax code is a mess. So why is it so hard for Congress and the President to fix it? On Monday, the Tax Policy Center will host three top political experts who will explain why reform is such a challenge and how backers could overcome its hurdles. It won’t be easy. […]

Washington DC’s Tax Revision Commission Plan

Last year, I had the privilege of serving on the District of Columbia’s Tax Revision Commission, chaired by former mayor Tony Williams. On Monday, the Tax Policy Center will host a panel to discuss our broad-based effort to rework DC’s often unwieldy revenue system. To prepare, I looked more closely at how the personal income […]

As American as Apple Inc.

Are large U.S. multinationals largely U.S. owned? To hear some of the arguments for retaining or enhancing the tax benefits that these companies enjoy, you’d think this was a given. Think again. Quirks in the tax laws essentially provide large U.S. multinationals like Apple, Google, and Cisco with a kind of turbo-charged Individual Retirement Account […]

Dave Camp’s Most Valuable Contribution to Tax Reform

House Ways & Means Committee chair Dave Camp’s most important contribution to the tax reform debate may be this: By proposing a specific, transparent, and fully-realized reform plan, he has made it far tougher for others to credibly promise trillions of dollars in tax cuts without either describing how they’d pay for them or acknowledging […]

Mike Lee’s Tax Plan: An Intriguing Idea That Would Add $2.4 Trillion to the Deficit

An ambitious tax reform plan proposed by Sen. Mike Lee (R-UT) would provide generous new tax credits for families with children and repeal the Alternative Minimum Tax, while at the same time eliminating the standard deduction and nearly all itemized deductions. More than 60 percent of households would pay lower taxes than under current law […]

Tax Reform’s Quiet Protectionism

House Ways and Means Chairman Dave Camp has offered a detailed and thoughtful set of proposals on international tax reform, as did former Senate Finance Chairman Max Baucus in November, 2013. The proposals, however, contain a new form of subtle protectionism. They quietly aim to discourage U.S.-based multinationals from making products overseas and selling them […]