Taxes
Latest
-
How Much Would the Wyden-Smith Tax Deal Cost?
Read moreSenate Finance Committee Chairman Ron Wyden (D-OR) and House Ways & Means Committee Chairman Jason Smith (R-MO) recently put forward a bipartisan plan... -
Congress Should Avoid Costly Tax Cut Holiday Season
Read moreAccording to press reports , policymakers may be close to reaching a bipartisan tax cut deal that would temporarily restore various business tax... -
Year-End Tax Deal Could Cost Over $800 Billion if Made Permanent
Read moreUPDATE (January 2024): We have published an updated analysis of this tax deal. You can find the updated analysis here . According to press reports... -
Lawmakers Should Avoid Year-End Tax Cut Binge
Read moreAccording to press reports, lawmakers are considering a year-end tax package that would combine a temporary expansion of the Child Tax Credit with the... -
TCJA Expansions Could Balloon Cost of Extensions
Read moreExtending various income and estate tax provisions of the Tax Cuts and Jobs Act (TCJA) expiring after 2025 would cost $3.4 trillion through 2035... -
CBO: Israel Supplemental Costs $27 billion
Read moreThe House of Representatives is set to vote on the Israel Security Supplemental Appropriations Act as early as Thursday. This morning, the... -
2023 Revenue Plunge Confirms 2022 Surge Was a Fluke
Read moreAfter surging to 19.3 percent of Gross Domestic Product (GDP) in Fiscal Year (FY) 2022, revenue in 2023 plummeted to 16.5 percent of GDP, according to... -
IRS Rescission Would Worsen Deficits
Read moreRescinding $25 billion of IRS funding would result in the loss of $49 billion in revenue and increase deficits by $24 billion over ten years... -
Senate Budget Committee Holds Hearing on Raising Revenue to Save Social Security
Read moreOn July 12, the Senate Budget Committee held a hearing titled " Protecting Social Security for All: Making the Wealthy Pay Their Fair Share" to... -
Tax Cut Extensions Cost Over $3.3 Trillion
Read moreSome parts of the 2017 Tax Cuts and Jobs Act (TCJA) have recently expired or changed, and large portions of the TCJA will expire by the end of... -
We Must Not Backslide on Fiscal Responsibility Act
Read moreThe bipartisan Fiscal Responsibility Act (FRA) enacted last month was projected to generate $1.5 trillion of deficit reduction – more than any... -
IRA Energy Provisions Could Cost Two-Thirds More Than Originally Estimated
Read moreAt the time of its passage, the Congressional Budget Office (CBO) and Joint Committee on Taxation (JCT) estimated that the Inflation Reduction Act...