Taxes
Latest
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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...
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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...
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Build Your Own Child Tax Credit – A Web-Based Version
Read moreThe Child Tax Credit (CTC) has become a topic of significant debate among policymakers as they wrestle with determining its appropriate size...
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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...
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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...
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W&M Tax Bill Undermines FRA Savings
Read moreThe American Families and Jobs Act (AFJA) that recently passed the House Ways and Means Committee would add $320 billion to the deficit over the next...
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W&M Tax Bill Would Cost Over $1 Trillion if Made Permanent
Read moreThe House Ways and Means Committee will soon consider the American Families and Jobs Act, legislation to temporarily extend various business tax...
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Revenue Surge Comes to an End
Read moreAfter surging to a near-record 19.6 percent of Gross Domestic Product (GDP) last fiscal year, revenue has fallen to 17.7 percent of GDP over the past...
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Unpaid-For Tax Cuts Would Be Irresponsible and Hypocritical
Read moreAccording to press reports, the House majority is currently considering a tax cut package that would extend or reverse several business provisions...
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IRS Funding Repeal Could Cost Over $100 Billion, Encourage Tax Cheating
Read more1/9 Update: CBO released a score of the bill, incorporated below. The House is likely to vote today on a bill that would rescind roughly $70 billion...
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End-of-Year Changes Need Offsets
Read moreAs policymakers continue to negotiate a possible omnibus appropriations bill, there is also discussion of attaching a variety of revenue and mandatory...
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CBO Releases 2022 Budget Options Report
Read moreThe Congressional Budget Office (CBO) released its Options for Reducing the Deficit: 2023 to 2032 report this week, outlining 76 policy options and...