Taxes

Note: This is an update of our Tax Gap Primer using the latest available data from the IRS. One of the most fair and efficient ways for policymakers...

Update: JCT issued a response to the letter confirming the default approach to scoring tax legislation is using a current law baseline as established...

The House Fiscal Year (FY) 2025 budget resolution would allow policymakers to add $2.8 trillion to primary deficits through 2034 via a reconciliation...

Note (2/19/2025): The below analysis was written before the committee marked up the resolution and added a requirement for an additional $500 billion...

Update: The offset options below were estimated prior to enactment of the One Big Beautiful Bill Act (OBBBA) and have not been updated. Some options...

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”...

In a closed-door meeting with House Leadership today President Trump reportedly outlined his tax priorities. According to press reports, they included...

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...

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...

In early 2018, following passage of the Tax Cuts and Jobs Act (TCJA), the Congressional Budget Office projected revenue collection would total about...

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...