Kudos to Sandy Levin For Speaking Out For Fiscal Responsibility
Rep. Sandy Levin (D-MI), the senior Democrat on the House Ways & Means Committee, stood up on the House floor yesterday and urged Congress to refuse to make permanent three special tax breaks for...
View ArticleWill Immigrants Get A Tax Windfall From Refundable Credits?
In the end-of-the-year congressional scramble, lawmakers scuttled an effort to permanently extend a number of tax breaks—largely because many feared it would open the door to widespread use of...
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The War on the IRS
The massive 2015 spending bill that President Obama is likely to sign this week continues an ongoing effort to trash the Internal Revenue Service. It is a cynical recipe for a self-fulfilling...
View ArticleThe Tax Vox Lump of Coal Awards: The 10 Worst Tax Ideas of 2014
It’s time for the annual Tax Vox Lump of Coal Awards for the worst tax policy of 2014. The past 12 months were a banner year for bad ideas and their perpetrators. The Top 10 are: Frank Underwood &...
View ArticleHouse GOP Leadership Would Require Dynamic Scoring of Some Tax Bills. Will It...
Last night, the House Republican leadership proposed new rules that would require the Joint Committee on Taxation and the Congressional Budget Office to incorporate macroeconomic effects of “major”...
View ArticleNine Tax Stories to Watch in 2015
So much has changed. Yet, when it comes to taxes, so much has not. Republicans have taken control of Congress and now hold governorships in 31 states. The U.S. economy is finally on solid ground. And...
View ArticleGale and DeLong Debate: Is the Budget Deficit Even a Problem?
Do deficits, or at least currently projected deficits, matter? It is an age-old question that’s going to get renewed attention in a Congress where Republicans have made no secret of their desire to cut...
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President Obama Targets the "Angel of Death" Capital Gains Tax Loophole
The President plans to announce in Tuesday’s State of the Union Address new proposals that would raise taxes on capital gains for the wealthiest Americans. The proposal would raise the top tax rate on...
View ArticleThe Tax Reform Gap Between Obama and the GOP is Widening
In his state of the union address, President Obama laid out his vision for the tax code. Earlier in the day, in a speech to the Chamber of Commerce, Senate Finance Committee chair Orrin Hatch (R-UT)...
View ArticlePresident Obama’s Middle-Class Tax Message in the State of the Union
President Obama’s tax proposals for the middle class were a key element of his State of the Union address. But they represent only relatively modest efforts to create subsidies through the tax code...
View ArticleIs Dynamic Scoring of Tax Bills Ready For Prime Time?
The House has instructed the Joint Committee on Taxation and the Congressional Budget Office to factor in the macroeconomic effects of tax law changes when calculating the official budget score of...
View ArticleNew Evidence on Our Fiscal Status
CBO’s new budget projections are an opportunity to take stock of the country’s fiscal situation. At the risk of oversimplifying, the report contains one piece of good news, and two of bad news. The...
View ArticleIs Obama Closing Retirement Savings Loopholes or Just Curbing Congress’...
In his upcoming budget, President Obama will propose to strip away the “loopholes” that permit wealthy individuals to accumulate large amounts in tax-favored retirement plans. He would prohibit a...
View ArticleHow Will Jeb Bush Turn His Vision of Government into Tax Policy?
Jeb Bush gave a fascinating and important speech yesterday to the Detroit Economic Club, a traditional venue for presidential candidates. In it, he laid out an economic and social vision that echoed in...
View ArticleTax Vox Will Host an Online Policy Forum on Dynamic Scoring
The House vote to require the Congressional Budget Office and the congressional Joint Committee on Taxation to include macroeconomic effects in some official budget scores is enormously controversial...
View ArticleDynamic Scoring Forum: Dynamic Scoring Won’t Be Perfect But it is Worth Doing
This is one of a series of guest TaxVox blog posts discussing dynamic scoring. It is obvious that changes in spending and tax policies affect macroeconomic variables, such as the Gross Domestic...
View ArticleDynamic Scoring Forum: Now We Really Need More Information
This is one of a series of guest TaxVox blog posts discussing dynamic scoring House Ways & Means Committee Chairman Paul Ryan has claimed that the House dynamic scoring rule would generate more...
View ArticleDynamic Scoring Forum: Three Things You Should Know About Dynamic Scoring
This is one of a series of guest TaxVox blog posts discussing dynamic scoring. The House recently changed the rules of budget scoring: The Congressional Budget Office and the Joint Committee on...
View ArticleDynamic Scoring Forum: California’s Dynamic Revenue Estimating Experience
This is one of a series of TaxVox guest blogs discussing dynamic scoring. California was one of the first states in the nation to undertake dynamic revenue estimation of tax proposals. In 1994,...
View ArticleDynamic Scoring Forum: The Dangers of Dynamic Scoring
This is one of a series of TaxVox guest blogs discussing dynamic scoring. One of the strengths of the US budgeting system is that proposals are held accountable through a relatively open process of...
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