Highway Drama Drives Contingency Planning

By :: July 21st, 2015

Still on the Hill: Extenders and highway funding drama. Today, the Senate Finance Committee is expected to mark-up its proposed restoration of  expired tax breaks, and the full Senate plans to hold a procedural vote on highway funding legislation. Congress faces increasing pressure to move quickly given the July 31 deadline: Eighty-one public transportation unions […]

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ACA Effects and Estimates

By :: July 20th, 2015

Treasury shares tax filing data on the Affordable Care Act. It released data Friday that show 81 percent of tax filers “checked the box” to indicate that they had health insurance coverage. Nine percent claimed a health care coverage exemption, and 6 percent paid the fee for remaining uninsured without an exemption. About 4 percent still need […]

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Is Congress on the road to highway resolution?

By :: July 17th, 2015

Next week on the Hill — A Senate vote on highway funding. Senate Majority Leader Mitch McConnell plans to hold a procedural vote on Tuesday on a six-year funding plan for the Highway Trust Fund. Senators James Inhofe and Barbara Boxer of the Environment and Public Works Committee are working out the final language. Inhofe […]

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Should The IRS Become a Consumer Agency Instead of a Tax Cop?

By :: July 16th, 2015

In her latest report to Congress, IRS Taxpayer Advocate Nina Olson made the provocative suggestion that her agency completely rethink its mission: “It should transform itself as a tax agency from one that is designed around nabbing the small percentage of the population that actively evades tax to one that aims first and foremost to […]

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All talk and no action keeps highways a bumpy mess.

By :: July 16th, 2015

The House passes a five-month highway patch. But the Senate still wants two years and Finance Chair Orrin Hatch thinks he might be able to fund five. The House bill relies on $8 billion in cats-and-dogs changes in tax administration and budget gimmicks to fund the short-term extension through December. House GOP leaders insist they […]

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Highway Follies: The Never-ending Story

By :: July 15th, 2015

The House has a short-term patch for the Highway Trust Fund… Late Monday night, the House Ways & Means Committee released a plan to cover the Highway Trust Fund with $8.1 billion through mid-December 2015. The patch would use revenue collected by tightening IRS compliance rules. The House could vote on the bill today. But […]

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Plans, Expectations, and Avoidance

By :: July 14th, 2015

An outline of a safe plan: No sharp edges. Democratic presidential candidate Hillary Clinton shared her tax agenda yesterday, but as Howard Gleckman notes, most of her proposals are familiar, including a Buffett tax on very-high income households and small business tax relief. She did not endorse broad-based tax reform, or even a carbon tax. […]

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Hillary Clinton Outlines Her Play-It-Safe Tax Agenda

By :: July 13th, 2015

In what her campaign billed as a major economic policy speech today in New York, Democratic presidential frontrunner Hillary Clinton outlined her agenda for what she described as a Growth and Fairness Economy. And while she included a number of tax proposals, few were new. Indeed, the speech was most striking for being so conventional. […]

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Six-Year Road Funding, Renewals on Repeat, and Investigations

By :: July 13th, 2015

Highway funding: Will the House GOP play the long game? Ways & Means Chair Paul Ryan wants to pair international tax changes with six-year funding for highways, and he wants it done this year. To buy time to flesh out his plan to use revenue from a one-time tax on foreign profits of US companies, […]

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“Take me home, country road… To a fund (and a country), that’s not broke.”

By :: July 10th, 2015

Greece: “Ne” to new sales taxes and (maybe) tax reform. The beleaguered Greek government has offered a new reform plan in return for $55 billion in European Union bailout money—and it reportedly includes new sales taxes, new levies on cafes and restaurants (read: tourists) and possible tax reform, along with more spending and pension cuts. […]

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