Taxes
Latest
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Donald Trump’s Proposal to End Taxes on Overtime
Former President Donald Trump recently proposed eliminating taxes on overtime pay. On a static basis, we estimate ending taxes on all overtime pay...
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IRS Cuts Would Cause $66 Billion of Revenue Loss
The continuing resolution recently introduced in the House of Representatives would extend the $20.2 billion in rescissions to the Internal Revenue...
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How Big is the Tax Gap?
The Senate Finance Committee will hold a hearing on September 12 on tax avoidance and how it relates to the upcoming debate on extending the expiring...
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Donald Trump’s Proposal to Lower the Corporate Tax Rate to 15%
President Trump recently proposed lowering the corporate tax rate from 21 to 15 percent for corporations that make their products in America. Under...
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The Kamala Harris Plan for Taxing Capital Income
As part of her New Way Forward for Small Businesses, Vice President Kamala Harris announced her support for several policies that would increase taxes...
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SALT Cap Expiration Could Be Costly Mistake
Some policymakers have suggested allowing the $10,000 cap on the State and Local Tax (SALT) deduction to expire as scheduled at the end of 2025. We...
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The Kamala Harris Proposal to Raise the Corporate Tax Rate to 28%
The campaign for Democratic presidential nominee Vice President Kamala Harris told NBC News today that if elected President, she would seek to raise...
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The Kamala Harris Agenda to Lower Costs for American Families
Vice President Kamala Harris released a document today – the Agenda to Lower Costs for American Families – that outlines a number of proposals she...
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Kamala Harris’s Plan to Exempt Tips from Taxes and Raise the Minimum Wage
This past weekend, Vice President Kamala Harris announced that, if elected President, she would seek to exempt tip income from federal income taxes...
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Plans to Address TCJA Expirations
With large parts of the Tax Cuts and Jobs Act (TCJA) set to expire at the end of Calendar Year (CY) 2025, lawmakers will soon face crucial decisions...
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Trump and Biden: Tax and Spending Changes
In a recent analysis, we estimated that former President Donald Trump approved $8.4 trillion of new ten-year borrowing during his four-year term in...
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CBO Releases June 2024 Baseline Update
The Congressional Budget Office (CBO) today released new ten-year budget and economic projections – an update from its February baseline – again...