Archive for the ‘Tax Reform’ Category

Dave Camp’s pitch to overhaul U.S. taxes: An impossible dream?

Unlike many previous Republican proposals to cut taxes, the Michigan congressman specifies how government would pay for them. This is critical, but it’s not pretty. On Wednesday, U.S. Rep. Dave Camp (R-Mich.), chairman of the House Ways and Means Committee, unveiled an ambitious plan to overhaul America’s complicated tax code. This is both a technical […]

Dave Camp’s Tax Plan: A Brave Start But Lots of Gimmicks

Give House Ways & Means Committee Chair Dave Camp (R-MI) all the credit in the world for years of hard work developing his tax reform plan. Just don’t look too hard at the blueprint, which he released this afternoon. On one level, it is a serious framework for reform. For individuals, it would consolidate and […]

Incoming Senate Finance Chair Wyden Outlines His Tax Agenda

Senator Ron Wyden (D-OR), about to become the new chairman of the Senate Finance Committee, said Friday that he aims to eventually rewrite what he described as a “dysfunctional, rotting mess of a carcass that we call the tax code.” But in an acknowledgement of the challenges of tax reform, Wyden said he wants to […]

Questions About Expanding the Childless EITC

As the idea of expanding the “childless EITC” gathers steam, it’s time to start thinking about what the next generation of worker credits should look like. Today’s EITC lifts millions of families out of poverty each year by providing a wage subsidy that encourages work. But it largely skips over childless adults. Politicians from President […]

Finance Chairman In-Waiting Ron Wyden Is A Tax Reformer

Senator Ron Wyden (D-OR), who is poised to become the new chair of the Senate Finance Committee, is the sponsor of a major tax reform plan that would reduce both individual and corporate tax rates without adding to the deficit or changing the current distribution of taxes among income groups very much. The 64-year-old Wyden, […]

TheTaxVox 2013 Lump of Coal Award: Wait ‘Til Next Year Edition

Tax Vox proudly announces its seventh annual Lump of Coal Award for the worst tax and fiscal policies of 2013. The year was a curious mix of really bad ideas and dithering. After all, Congress’s finest moment may have been its December budget mini-deal—a decision that effectively ignored every one of the great fiscal questions facing […]

The Year in Taxes: From the Fiscal Cliff to Tax Reform Talks

The year in taxes started with the nation toppling, briefly, over the fiscal cliff. And it ended with some interesting policy proposals on tax reform though little political progress. Remember the fiscal cliff? While that crisis was resolved on New Year’s Day, it really began in 2001, when President George W. Bush signed the Economic […]

A Value-Added Tax That Won’t Raise Revenues Or Boost Taxes on the Poor

For many years, Michael Graetz, now a law professor at Columbia University, has been promoting a national Value-Added Tax (VAT) that would become the principal levy paid by most Americans. VATs–and similar broad-based consumption taxes–are enormously controversial in the U.S. even though they are ubiquitous throughout the rest of the world and enjoy widespread support […]

Time to Fix the Budget Process

Congressional negotiators are trying to craft a budget deal by mid-December. Fareed Zakaria’s Global Public Square asked twelve experts what they hoped that deal would include. My suggestion: it’s time to fix the budget process: Odds are slim that the budget conference will deliver anything big on substance. No grand bargain, no sweeping tax reform, […]

Could the GOP Boost Tax Reform By Adding the Idea to the Debt Limit?

House Republicans reportedly are considering several ways to add a framework for tax reform to legislation needed to increase the federal government’s borrowing authority. Could such a rider increase the chances of reform happening in the near future? Sadly, no. Indeed, it is likely to bury a tax code rewrite even more deeply in Washington’s […]