Posts Tagged ‘Tax Policy Center’

Don’t Count on Much Economic Growth From Individual Tax Reform…Or From Tax Rate Cuts

Can individual income tax reform that cuts rates and eliminates subsidies increase economic growth? How about tax cuts by themselves? The answer is: Maybe, but not by much, according to a new paper by the Tax Policy Center’s Bill Gale and Andrew Samwick, director of The Nelson A. Rockefeller Center for Public Policy and Social […]

Treasury’s Lew Says Anti-Inversion Decision Will Come Soon, But Offers No Hints About What Or When

In a speech today at the Tax Policy Center, Treasury Secretary Jack Lew said the agency will decide “in the very very near future” how it will respond to the recent wave of tax-motivated corporate inversions.  Lew strongly urged Congress to curb the practice on its own, but suggested Treasury might move administratively if lawmakers […]

Is It Time to Repeal The Corporate Income Tax?

In case you missed it, The New York Times’ political and policy blog The Upshot published a fascinating debate throughout August on the question: Should the corporate income tax be abolished? It’s a query that may be raised on Monday morning, when Treasury Secretary Jack Lew speaks at the Tax Policy Center on business tax […]

Could The U.S. Fix Taxation of Multinational Corporations With A Sales-Based Formula?

Corporate inversions have been the topic of the summer for tax wonks (beats jellyfish and beach traffic, I suppose), but the issue is a classic bit of Washington misdirection. Instead of focusing on the real disease—an increasingly dysfunctional corporate income tax—we are obsessing over a symptom—firms such as Burger King engaging in self-help reform by […]

How Much Would An Individual Tax Rate Cut Add to the Deficit, and Who Would Benefit?

Reducing tax rates is a guiding principal of most tax reform plans. Even Democrats who see reform partly as a tool to boost revenues agree that some money generated by eliminating tax preferences ought to go to rate reduction. But how much does Treasury lose when Congress reduces individual tax rates, and which taxpayers benefit the […]

New TPC Analysis: What Dave Camp’s Tax Reform Plan Would Really Mean

In an extensive new analysis of House Ways & Means Committee Chair Dave Camp’s tax reform plan, my Tax Policy Center colleagues confirm his proposal would raise about the same amount of money over 10 years as current law and impose roughly the same tax burden across income groups as today’s revenue code. TPC also concluded that Camp’s […]

The Tax-Shopping Backstory of the Medtronic-Covidien Inversion

How can a company headquartered in Minneapolis merge with a competitor run out of Mansfield, Massachusetts in order to pay taxes in Ireland?  It’s just another day in corporate inversion-land, where an opportunity to cut taxes is once again driving key business decisions. This time, the buyer is Minnesota-based medical device maker Medtronic Inc. Its […]

Are Domestic Partnerships A Way For Heterosexual Couples To Avoid The Marriage Tax Penalty?

In their zeal to provide a legal alternative to banned marriage for same-sex couples, some states may have created a new tax shelter for heterosexual couples. By choosing domestic partnership or civil union over marriage, opposite-sex couples are able to avoid paying a federal income tax marriage penalty, just as same-sex couples can. Over the […]

Could EPA’s New Greenhouse Gas Rules Open the Door to a State-based Carbon Tax?

EPA’s proposed tough new standards for power-plant emissions of greenhouse gasses opens the door to new state or regional cap-and-trade systems to limit carbon discharges. It is less clear whether it would go the next step and permit states to impose their own carbon tax. The proposed EPA rules, which Brookings senior fellow Barry Rabe […]

Turning Carbon Tax Theory Into Reality

A carbon tax has great appeal. It could reduce the risk of climate change by building emissions costs into market prices, thus discouraging the use of carbon-based fuels. And it would make a lot of revenue available for a broad range of purposes including reducing other taxes, new spending, or cutting the deficit. A nice […]