Tag: ‘Congress’

Dynamic Scoring Forum: Now We Really Need More Information

By :: February 25th, 2015

This is one of a series of guest TaxVox blog posts discussing dynamic scoring House Ways & Means Committee Chairman Paul Ryan has claimed that the House dynamic scoring rule would generate more information.  But the new rule asks for an official cost estimate that reflects only a single estimate of a bill’s supposed impact […]

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Tax Vox Will Host an Online Policy Forum on Dynamic Scoring

By :: February 19th, 2015

The House vote to require the Congressional Budget Office and the congressional Joint Committee on Taxation to include macroeconomic effects in some official budget scores is enormously controversial in the policy world and among economists. To help unpack this complex issue, Tax Vox has asked several budget and tax experts to present their views on this process, known as dynamic […]

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Lawmakers Talk Tax Reform But Keep Pushing New Tax Subsidies

By :: February 12th, 2015

It is hard not to notice that while policymakers are talking tax reform they are walking tax deform. The more they vow to lower tax rates and eliminate targeted tax preferences (close loopholes in Congress-speak), the more bills they push to create new subsidies or juice up old ones. Yesterday, the Senate Finance Committee created three new tax […]

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Is Dynamic Scoring of Tax Bills Ready For Prime Time?

By :: January 26th, 2015

The House has instructed the Joint Committee on Taxation and the Congressional Budget Office to factor in the macroeconomic effects of tax law changes when calculating the official budget score of revenue bills. But are existing models up to the task of what’s commonly called dynamic scoring? A group of experts assembled today by the […]

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What To Make of the Senate Finance Committee’s Tax Reform Workgroups

By :: January 15th, 2015

The Senate Finance Committee has created five bipartisan working groups to develop ideas for comprehensive tax reform by the end of May.  It is a good idea. But it is unlikely to accelerate the panel’s timetable for producing legislation. The task forces won’t develop many new ideas. Let’s be honest: For the most part, when it […]

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Nine Tax Stories to Watch in 2015

By :: January 6th, 2015

So much has changed. Yet, when it comes to taxes, so much has not. Republicans have taken control of Congress and now hold governorships in 31 states. The U.S. economy is finally on solid ground. And presidential hopefuls are gearing up for the 2016 election. But for all that, the top tax stories of 2015 […]

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The War on the IRS

By :: December 16th, 2014

The massive 2015 spending bill that President Obama is likely to sign this week continues an ongoing effort to trash the Internal Revenue Service.  It is a cynical recipe for a self-fulfilling disaster: Give the agency more and more work. Cut its budget. Blame it for failing to do its job. Repeat. House GOP Appropriators […]

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Kudos to Sandy Levin For Speaking Out For Fiscal Responsibility

By :: December 11th, 2014

Rep. Sandy Levin (D-MI), the senior Democrat  on the House Ways & Means Committee, stood up on the House floor yesterday and urged Congress to refuse to make permanent three special tax breaks for charitable giving unless their $11 billion cost was paid for. Why were his remarks notable? Because Levin was the prime sponsor […]

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Why Does Congress Pay For Some Tax Cuts and Not Others?

By :: December 9th, 2014

Can somebody explain to me why the House agreed last week to restore 50+ tax subsidies without paying for them (and thus adding $42 billion to the deficit) and 10 minutes later approved a new tax subsidy that it insisted on paying for? It can’t be the merits of the recipients. By now, TaxVox readers […]

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Are Tax-Free ABLE Accounts The Right Financial Solution For People With Disabilities?

By :: December 4th, 2014

For the first time since 2010, Congress may be about to acknowledge that people with disabilities cannot have a decent quality of life with limited financial resources and modest government support. It is on the verge of approving the Achieving a Better Life Experience (ABLE) Act, which would create tax-free savings accounts to assist some people […]

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