Tag: ‘Joint Committee on Taxation’

For Most Households, It’s About the Payroll Tax, Not the Income Tax

By :: April 2nd, 2015

While policymakers obsess about the income tax, they often lose sight of an important detail: For two-thirds of households, the levy that matters most is the payroll tax. According to a new report by the Joint Committee on Taxation, the 80 million tax filers making $40,000 or less will collectively pay no federal income tax and many […]

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Spending Cuts, Surpluses and Sales Opportunities

By :: March 18th, 2015

The House GOP Budget: No tax reform details. The House Budget Committee unveiled a budget with $5.5 trillion in spending cuts that promises balance by 2024. Committee Chairman Tom Price is confident the budget will pass the House this week. However, TPC’s Howard Gleckman says there is no chance it will become law. The budget […]

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Dynamic Scoring Forum: Inside the Black Box

By :: March 17th, 2015

This is one of a series of TaxVox guest blogs discussing dynamic scoring. Whether dynamic scoring for official revenue estimates is a good or bad idea, it is now a part of scoring rules in the House. As a result, it is more compelling than ever to understand the forces that determine economic effects. Previous […]

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Dynamic Scoring Forum: Three Things You Should Know About Dynamic Scoring

By :: February 27th, 2015

This is one of a series of guest TaxVox blog posts discussing dynamic scoring. The House recently changed the rules of budget scoring: The Congressional Budget Office and the Joint Committee on Taxation will now account for macroeconomic effects when estimating the budget impacts of major legislation. Here are three things you should know as […]

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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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Cheap Talk, Scoring, and Promises

By :: October 13th, 2014

Congress is in recess through the mid-term elections. The Daily Deduction will post each Monday until then.  Counting devices before they hatch? Should the GOP take the Senate in November, medical device makers may see a renewed push to repeal the 2.3 percent excise tax on their products. The tax is an important financing component […]

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

By :: June 11th, 2014

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 […]

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Beware of Tax Reform That Promises Deep Rate Cuts

By :: August 8th, 2013

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 […]

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A Summer Update on Tax Reform

By :: August 6th, 2013

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 […]

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

By :: May 7th, 2013

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 […]

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