Tag: ‘Congress’

The International Spitting Match Over the Google Tax Intensifies

By :: February 2nd, 2016

Call it the perils of one-off corporate tax settlements. While the developed world is trying—with limited success– to figure out how to tax multinational corporations, individual countries are making their own deals to collect back taxes with those firms. It is not a pretty sight. Last week, the UK reached a $187 million settlement with […]

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If Banning Negligent Low-Income Households From Taking Tax Credits Is Such a Great Idea, Why Stop With Them?

By :: January 7th, 2016

Congress has banned more low-income families who file erroneous tax returns from receiving refundable credits. If lawmakers think this is such a terrific idea, why stop at low-income households? For instance, why shouldn’t Congress bar trade associations from claiming tax-exempt status if they file improper reports to the IRS? Or prohibit hedge fund managers from enjoying preferential […]

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What Can Congress and President Obama Accomplish in 2016?

By :: January 4th, 2016

Can Congress and President Obama, who have battled over policy for seven years, reach consensus over key tax and other issues in the months leading up to the 2016 election? To ask the question is practically to answer it, but it is worth taking a closer look at the policy dynamics. Start by building a […]

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Back at the Tax Extender Trough

By :: December 1st, 2015

For years, Congress has struggled with what to do with scores of temporary tax breaks that have come to be known as the “tax extenders.”   The usual resolution: Lawmakers fiddle for months. Then, sometime in December, they mindlessly continue the immortal mostly-business tax breaks for another year or two. Last year, Congress never could agree […]

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Would Speaker Ryan Boost the Chances for Tax Reform? Not Until 2018

By :: October 29th, 2015

Paul Ryan has been an enthusiastic supporter of tax reform for years. Will his elevation to House Speaker make reform more likely? Perhaps, but not any time soon. Reform efforts got two big boosts this week. The first was the GOPs decision to choose Ryan to lead the House. The second was outgoing Speaker John […]

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The Debt Limit: Here We Go Again

By :: October 15th, 2015

In less than a month—and in perhaps as little as 18 days– the federal government will be unable to pay its bills. Realistically, there is only one way to avoid such a fiscal mess: Congress must raise the federal debt limit so Treasury can borrow more money. But how will that happen? On one hand, […]

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Why Dump the Cadillac Tax?

By :: October 8th, 2015

Economists love the Affordable Care Act’s Cadillac tax, the excise tax on high-cost employer sponsored health insurance plans. Well, maybe not love. But they do like it a lot. In contrast, unions, Republicans, and even Hillary Clinton want to dump the tax. Why? Pretty much for the same reason economists support it: By raising the […]

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Five Tax Stories To Watch in What Will Be a Wild Fall in Congress and on the Campaign Trail

By :: September 8th, 2015

Congress is back. Fiscal deadlines loom. Presidential candidates have tax plans to propose. It isn’t clear how much lawmakers will accomplish in the next four months, but it will be a busy and interesting fall. Here are five stories to watch: International Tax Reform: House Republicans insist they want to try to rewrite the tax […]

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How Will Congress Fund Roads and Transit?

By :: July 7th, 2015

In 24 days, federal spending authority under the highway trust fund comes to an end. Without legislation to keep the program going and money to finance it, road projects will slow in the midst of high construction season. And where are Congress and the White House on this perennial issue? Nowhere. In late June, after […]

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While Washington’s Efforts to Fund Roads Go Nowhere, Red States Are Raising Gas Taxes

By :: June 11th, 2015

In about six weeks, federal money to keep the Highway Trust Fund going will once again dry up and Congress will begin its predictable scramble to keep cash flowing to roads, bridges, and transit projects. The reason for the gridlock: Neither Congress nor President Obama is willing to back a gas tax sufficient to fund the program, and […]

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