Tag: ‘Tax Policy Center’

The GOP Debate: Squabbles Over Refundable Credits, Deductions, and Conservatisim

By :: November 11th, 2015

Last night’s GOP presidential debates (here’s a transcript of the main event) highlighted some important tax policy contrasts among the candidates. One thought refundable credits are conservative economic policy while another did not.  Nearly all would preserve deductions for mortgage interest and charitable gifts but one would ditch them. One worried about what his rivals’ […]

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Tax Reform Is Possible, But It Won’t be Easy

By :: November 4th, 2015

At a Tax Policy Center conference on tax reform yesterday, Jason Furman, the chair of the President’s Council of Economic Advisors, said that a major rewrite of the tax code would make little progress until Congress breaks the current impasse over the  treatment of pass-throughs– firms such as partnerships and S corporations whose owners pay […]

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Little Difference Between the Cadillac Tax and a Cap on the Tax Exclusion for Employer Health Plans

By :: October 22nd, 2015

In the face of widespread criticism of the Affordable Care Act’s excise tax on high-cost employer sponsored health insurance plans (the Cadillac Tax), some lawmakers have backed an alternative: a cap on the current tax exclusion for employer contributions to health insurance. To learn how the two ideas would differ, my colleagues at the Tax […]

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Trump Proposes a Huge Tax Cut

By :: September 28th, 2015

Donald Trump, who likes superlatives, has weighed in with his version of a standard cut-the-rates, broaden-the-base tax reform. And like many other GOP tax rewrite proposals, this one appears to be an enormous tax cut skewed largely in favor of high-income households. While Trump claims the plan would pay for itself after three years, he […]

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Most State Budgets Are Improving But Their Long-Term Prospects Remain Uncertain

By :: September 17th, 2015

If you are not an energy dependent state, things ought to be pretty good, at least in the short-term. The economy is improving, though slowly, The Rockefeller Institute reported this morning that state tax revenues grew by 5.8 percent in the first quarter of this year and by 7.6 percent in the second quarter. But […]

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The Cost of the Bush Tax Cuts, and What It Might Mean

By :: September 10th, 2015

While GOP presidential hopeful Jeb Bush has been reluctant to describe his tax plan as a tax cut, economists close to him have not. And newly-released cost estimates of his tax reform plan– and their consequences–are worth considering.  The very short version: His plan would add at least a trillion dollars to the national debt […]

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Jeb Bush’s Tax Plan: High Marks for Transparency But Key Questions Remain

By :: September 9th, 2015

At first glance, GOP presidential hopeful Jeb Bush’s tax reform plan is a standard lower-the-rates, broaden-the-base overhaul of the revenue code. But a closer look shows a something-for-everyone stew filled with interesting ingredients—most basic GOP fare but seasoned with a few surprising ideas. Bush, like fellow Floridian Marco Rubio, gets credit for putting out a […]

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Why Individual Tax Revenues Will Grow Even If Congress Doesn’t Raise Taxes

By :: September 3rd, 2015

The other day, I wrote about new Congressional Budget Office estimates that individual income tax revenues are likely to grow significantly over the next decade. A new paper by my Tax Policy Center colleagues Jim Nunns and Jeff Rohaly shows the importance of this trend through the rest of the century and explains in valuable […]

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Could a Carbon Tax Prevent The Catastrophic Consequences of Climate Change That Obama Fears?

By :: September 1st, 2015

In recent days, President Obama has painted the risks of climate change in apocalyptic terms.  Speaking in Anchorage, AK on Monday, Obama warned that without quick action to slow or reverse global warming, “entire nations will find themselves under severe, severe problems: More drought. More floods. Rising sea levels. Greater migration. More refugees. More scarcity. […]

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How Did the Gas Tax Lose Its Mojo, Even Among Conservatives?

By :: July 27th, 2015

With just a few days left before federal funding for highway programs expires, the Senate is debating all sorts of amendments to an extension– from export subsidies to the Affordable Care Act. But there is one subject it will not debate—the gas tax. Except for a handful of lawmakers, nobody in Congress or the White House […]

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