Tag: ‘tax extenders’

The Perpetual, Immortal, Eternal, Never-Ending Tax Extenders

By :: May 28th, 2015

The magic number for today is 16. That is, remarkably, the number of times Congress has extended the allegedly temporary research and experimentation tax credit since it was first enacted in 1981.  The question for philosophy class (this is far beyond economics) is this: Can something that has been extended 16 times over 33 years […]

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Trying to Square the House’s Tax Cuts and Its No-Tax-Cut Budget

By :: March 19th, 2015

DOA budgets are hardly new. But House tax writers seem to be ignoring their own party’s fiscal plan. The House Budget Committee’s fiscal framework would not change expected revenues over the next 10 years.  While it recommends enormous (though unspecified) spending cuts in an attempt to eliminate the deficit over the next decade, tax revenues […]

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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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How Will Jeb Bush Turn His Vision of Government into Tax Policy?

By :: February 5th, 2015

Jeb Bush gave a fascinating and important speech yesterday to the Detroit Economic Club, a traditional venue for presidential candidates. In it, he laid out an economic and social vision that echoed in many ways the “compassionate conservatism” message that his brother used with great success in his first run for the White House. But the […]

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Spending Caps? What Spending Caps?

By :: January 30th, 2015

Up next week: The President’s Budget. President Obama will release his budget  for fiscal year 2016 on Monday. The plan would increase spending above the sequester limits of  the Budget Control Act of 2011. Steep cuts were triggered in 2013 when Congress failed to reach a budget deal, but were then temporarily suspended thanks to […]

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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 Tax Vox Lump of Coal Awards: The 10 Worst Tax Ideas of 2014

By :: December 23rd, 2014

It’s time for the annual Tax Vox Lump of Coal Awards for the worst tax policy of 2014. The past 12 months were a banner year for bad ideas and their perpetrators. The Top 10 are: Frank Underwood & Elvis. Tax subsidies for economic development hardly ever pay for themselves. But two are worthy of […]

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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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Congress Ties Up Loose Ends, Loosely

By :: December 8th, 2014

The Senate may soon send that retroactive tax-break bill to the President. The House passed it last week, and the Senate is expected to take up the measure this week. The House version  would  revive 50+ expired tax breaks only through the end of 2014. Tax Analysts reports that Dave Reichert, the incoming chair of […]

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