Tag: ‘tax reform’

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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On Budgeting, Patience, and Rube Goldberg

By :: March 17th, 2015

Out today: A first look at GOP budgets. The US hit its debt limit yesterday (at least technically), and the budget battles have begun. The Senate GOP budget resolution  reportedly won’t include detailed plans to overhaul entitlement programs—though the House GOP plan may. The Senate Budget panel version will propose only savings targets for Medicare […]

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Charting a Course for Tax Reform: Might Feel Familiar, Won’t Be Easy

By :: March 12th, 2015

On the Hill: Taxpayer protection sought, tax reform input needed. The Senate Finance Committee holds a hearing today on protecting taxpayers from scams during the current tax filing season. Yesterday, panel Chairman Orrin Hatch and Ranking Member Ron Wyden announced their effort to solicit ideas on how best to reform the tax code to be […]

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Rubio-Lee Hints at Tax Reform's Troubling Direction

By :: March 11th, 2015

Republican Senators Marco Rubio and Mike Lee have introduced what should probably be thought of as the first major set of tax proposals in the 2016 Presidential election.  While their proposals are unlikely to be enacted, they hint at the troubling direction that tax reform debates seem to be headed. The Senators would reduce the […]

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Watch What You Wish For: Dynamic Scoring Creates More Issues for the GOP

By :: March 10th, 2015

As TaxVox readers know by now, House Republicans now require the Joint Committee on Taxation and the Congressional Budget Office to include macroeconomic effects when they produce budget scores of major bills. The GOP hoped this would show that tax cuts would generate so much new economic activity that they’d lose much less revenue than […]

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The Rubio-Lee Tax Reform Plan Raises Important Issues But Would Add Trillions to the Debt

By :: March 4th, 2015

The newest entrants in the tax reform sweepstakes are senators Marco Rubio (R-FL) and Mike Lee (R-UT).  Their plan is filled with a number of interesting and credible ideas but ducks many important questions. And, while it is not accompanied by a budget score, the elements that it specifies would add trillions of dollars to […]

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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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What We Hear When We Talk About Taxes... Musings of a Tax Hound

By :: February 26th, 2015

It’s been just over a year since I started posting TPC’s Daily Deduction. It’s high time I let you in on a little secret: Whenever I tell people that I write about “tax news and research” I get the exact same reaction. Imagine furrowed eyebrows, coupled with a sad, “Oh.” Every. Single. Time. As a […]

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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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Tax Preferences, Investigations, and Settlements

By :: February 11th, 2015

Senator Hatch: The rich may pay more under tax reform but he won’t raise their rates. The Finance Committee Chairman said after yesterday’s hearing that while he would not raise rates on upper-income taxpayers, those folks might have to give up some favorite tax preferences in order to achieve revenue-neutral tax reform.Hatch said it was […]

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