Taxes
Latest
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EARN Act Would Cost $80 Billion Without Gimmicks
This analysis is an update to a previous analysis of the Enhancing American Retirement Now Act to account for the introduction of the legislation...
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IRS Releases Updated Tax Gap Analysis
The Internal Revenue Service (IRS) recently released an updated analysis of the “ tax gap” – the difference between taxes owed to the federal...
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Year-End 'Extenders' Could Worsen Deficits and Inflation
With inflation surging and debt approaching record levels, policymakers might make the fiscal situation even worse in an end-of-the-year fiscal...
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CBO Scores IRA with $238 Billion of Deficit Reduction
The Congressional Budget Office (CBO) just released a final score of the Inflation Reduction Act, finding it would reduce deficits by $238 billion...
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The Inflation Reduction Act Would Reduce the Tax Gap
Of the $790 billion of savings and offsets in the Inflation Reduction Act (IRA) , about $125 billion would come from improving tax compliance...
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IRA Will Help Fed Fight Inflation
A recent Penn Wharton Budget Model (PWBM) study has been used by opponents to claim the Inflation Reduction Act (IRA) would increase rather than...
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What's In the Inflation Reduction Act?
Update (9/7/2022): The Congressional Budget Office has released an official score of the final version of the Inflation Reduction Act, finding it will...
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Build Your Own Carbon Tax
One way for the federal government to raise new revenue and reduce greenhouse gas emissions would be by putting a price on carbon. A carbon tax could...
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Reconciliation Criticisms Are Off Base
As possible elements of a deficit-reducing reconciliation agreement have emerged, critics have attacked the plan for increasing recession risk...
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Surging Inflation Highlights Need for Deficit Reduction, Not Tax Cuts
CPI inflation set another forty-year record today, rising by 1.3 percent this month and 9.1 percent over the past year. CPI has already risen more...
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Reconciliation Could Improve Medicare Solvency
According to press reports, policymakers are considering broadening the base of the 3.8 percent Net Investment Income Tax (NIIT) or self-employment...
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Reducing Drug Prices and the Tax Gap
As lawmakers negotiate a possible reconciliation bill, they should look to offsets from the House-passed Build Back Better Act (BBB) to help fund new...