Posts Tagged ‘Joint Committee on Taxation’

Did Multinationals Use a Foreign Earnings Tax Holiday To Burnish Their Financials Rather Than Reduce Taxes?

We’ve known for years that the 2004 repatriation tax holiday did little to boost domestic investment or create U.S. jobs, as promised by its backers. Now we are learning that many multinational corporations were not even interested in using the temporary holiday to cut their taxes. Instead, according to a new study, it may have been little more […]

Beware of Tax Reform That Promises Deep Rate Cuts

Two new studies show just how hard a time Congress will have trying to slash tax rates without adding trillions of dollars to the budget deficit and producing a massive tax windfall for the highest-income American households. Last week, the congressional Joint Committee on Taxation estimated that a tax plan that cuts individual rates to […]

A Summer Update on Tax Reform

Over the past week, Washington has been filled with news about tax reform—some reflecting necessary but painful truths and some just bad. In no particular order, here is where reform stands as Congress leaves town for its extended summer vacation: Big rates cuts are very expensive. The congressional Joint Committee on Taxation estimated that Congress would […]

The Joint Committee’s Report on Tax Reform: Must-read for Policy Geeks

If you are a tax geek, or even a normal person who wants to keep up with the ongoing debate over restructuring the tax code, download a copy of the congressional Joint Tax Committee’s Tax Reform Working Group Report. It is 568 pages long, doesn’t have much of a plot, has no character development (unless you […]

Cutting Corporate Tax Rates: Another View

On Nov. 2, TaxVox reported on a new Joint Committee on Taxation study on whether it is possible to reduce the corporate tax rate to 25 percent by eliminating business tax preferences. In response, we heard from George Callas,  staff director of the Ways & Means Subcommittee on Select Revenue Measures, who has a very different view of the study. George has […]

Mission Impossible: Cutting the Corporate Tax Rate to 25 Percent

It has been an article of faith among most congressional Republicans and many Democrats that the corporate tax rate should be cut from today’s top level of 35 percent to 25 percent—or even less. And backers of the idea breezily suggest this could be paid for by scaling back some corporate tax breaks. But a new […]