Taxes
Latest
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CBO's Revenue Savings Options
The Congressional Budget Office (CBO) recently released its Options for Reducing the Deficit, outlining a number of options to reduce the deficit. We...
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$3 Trillion of Dynamic Feedback is Fantasy Math
According to a recent press report, the House may try to claim $3 trillion of deficit reduction as a result of “assumed economic growth from tax cuts”...
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Trump Tax Priorities Total $5 to $11 Trillion
In a closed-door meeting with House Leadership today President Trump reportedly outlined his tax priorities. According to press reports, they included...
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Interest Costs Would Explode with $5.5 Trillion Reconciliation Package
A recent press report indicated that House leadership may be considering a budget resolution that would allow up to $5.5 trillion of net primary...
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How Much Revenue Will Trump's Tariffs Raise?
On February 1, 2025, President Trump signed three executive orders imposing new tariffs on goods from China, Canada, and Mexico. Below is an update of...
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Weakening the SALT Cap is Costly, Benefits High-Earners, & Increases Tax Complexity
The Tax Policy Center (TPC) recently published analyses of several options to raise the $10,000 State and Local Tax (SALT) deduction cap, which is set...
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Has TCJA Paid For Itself?
In early 2018, following passage of the Tax Cuts and Jobs Act (TCJA), the Congressional Budget Office projected revenue collection would total about...
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Trump’s Latest Tariff Plan Could Raise $1.5 Trillion
President Trump has announced that he is planning to impose a 10 percent tariff on all imports from China and a 25 percent tariff on imports from...
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Putting Numbers to TCJA Dynamic Feedback Estimates
As we have pointed out before, extending the various individual and estate tax provisions of the Tax Cuts and Jobs Act (TCJA) beyond their scheduled...
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Weakening the SALT Cap Would be a Costly Mistake
According to press reports, policymakers are considering changes to the $10,000 state and local tax (SALT) deduction cap as part of their efforts to...
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Deficit-Reducing Reconciliation Is Just What We Need
Earlier today, a group of 28 Members of Congress signed a letter to incoming Congressional leadership recommending a two-step reconciliation process...
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Options to Raise Tariff Revenue
Note: (02/13/2025) We are updating our estimate for Reciprocal Tariffs on Countries that Impose Tariffs on U.S. Exports; it has been removed in the...