Taxes
Latest
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Five Ways to Improve the FY 2022 Reconciliation Package
Read moreCongress is attempting to enact a large and ambitious agenda of new programs through the reconciliation process. While President Biden has made the...
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SALT Cap Repeal Does Not Belong in Reconciliation
Read moreFor Immediate Release Though the recent draft tax legislation proposed by the Ways and Means Committee is silent on the issue of the $10,000 state and...
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Better Targeting in Reconciliation
Read moreAs lawmakers negotiate the details of their reconciliation package, they will need to scale back some of their ambitions to prevent arbitrary policy...
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Ways and Means Proposes $1.3 Trillion of Tax Breaks, $2.3 Trillion of Tax Hikes
Read moreUPDATE (9/13/2021): The Joint Committee on Taxation has released a full score of the revenue proposals, including the revenue-raising items. The table...
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SALT Cap Repeal Would Be a Costly Mistake
Read moreRecent reports indicate Congress may repeal the $10,000 cap on the State and Local Tax (SALT) deduction in its $3.5 trillion reconciliation bill, with...
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Closing the Stepped-Up Basis Loophole
Read moreReconciliation should not add a penny to the national debt. As lawmakers work to craft a package with $3.5 trillion of new spending and tax breaks...
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Keeping Offsets on the Table
Read moreAs lawmakers work to put together a reconciliation package that could include up to $3.5 trillion of gross spending and tax breaks, resistance has...
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CBO Estimates $120 Billion from IRS Funding Boost
Read moreToday, the Congressional Budget Office (CBO) published an estimate of the revenue effects of President Biden’s proposal to increase Internal Revenue...
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Comparing the Permanent Costs of Build Back Better and the TCJA
Read moreThe bipartisan Infrastructure Investment and Jobs Act and the forthcoming budget reconciliation bill – together making up the core of the "Build Back...
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Chartbook: Reducing the Tax Gap
Read moreOne of the most fair and efficient ways for policymakers to raise revenue would be to close some portion of the “ tax gap.” The tax gap is the...
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There is No Such Thing as Progressive SALT Cap Relief
Read moreAccording to media reports, Congress is considering reforming, rather than repealing, the $10,000 cap on the deduction for State and Local Taxes (SALT...
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Republican and Democratic Presidents Support Reducing the Tax Gap
Read moreOne of the most fair and efficient ways for policymakers to raise revenue would be to close some portion of the “tax gap," or the difference between...