At his Senate Finance Committee confirmation hearing Thursday, Steven Mnuchin, Mr. Trump’s choice to head the Treasury Department, seemed confused about the Tax Policy Center estimate's of the cost of Trump's tax plan. Here are the facts.
It was probably too good an idea to survive the Washington policy meat grinder, but President-elect Donald Trump may have killed the House Republicans’ favored corporate tax reform before it even had a chance.
A delay would not only affect health care in the US, it could have significant implications for a big 2017 tax bill.
Tax Policy Center calculates that the House GOP tax blueprint would significantly reduce effective tax rates on some entrepreneurs, while Trump's most recent plan would only modestly lower their effective tax rates.
Making tax policy predictions for 2017 is especially perilous, given the uncertainties surrounding the incoming administration’s fiscal agenda. But since there is a good chance Congress will enact a major tax bill this year, here are ten key issues to watch.
Presidential election years are always a bonanza of bad ideas. And, sadly, this one was no exception.
Repealing the Affordable Care act would cut taxes significantly for the top one percent of US households, according to a new analysis.
Trying to parse President-elect Donald Trump’s recent threats against US manufacturers that move production overseas is not easy. One thing is sure: His tweet storm warning of new tariffs raises far more questions than it answers.
Steven Mnuchin says his tax plan would offset any reduction in upper-income taxes with fewer deductions, something that bears little resemblance to any of the multiple plans President-elect Trump proposed during the campaign.
In a new analysis, the Tax Policy Center finds that in 2017, Trump’s cap would affect only about 160,000 singles, a tiny fraction of the 89 million single taxpayers, and about 230,000 couples out of 59 million joint filers.
Some seem convinced that the repatriation tax can grease both a big corporate tax cut and build all those new roads. It might do one or the other, but it cannot do both.
Beware the next time you hear politicians throw around a phrase like 'tax reform.' Pay more attention to what they propose than what they call it.
On average, Trump would cut taxes for middle-income households making $48,000 to $83,000 by about $1,000 or 1.8 percent of their after-tax income. But he’d give those making more than $3.7 million (the top 0.1 percent) an average tax cut of more than $1 million, or 14 percent of their after-tax income.
Major tax cuts are coming in 2017. But the size and design of those cuts remain highly uncertain.
The FBI is seemingly in every other headline in this year’s presidential campaign. The IRS has been in none.
Is the US tax code both too small and too progressive? Yes, say Alan Viard and Sita Nataraj Slavov of the American Enterprise Institute.
The fiscal policy debate in the 2016 presidential election has come down to a familiar question: Do deficits matter?
You might have tuned in to the Oct. 13 Tax Policy Center discussion featuring representatives of each campaign. If you had, you would have seen an absolutely stunning contrast in both style and substance that in many ways mirrored their candidates.
Clinton has proposed a significant tax increase on high-income households and businesses. Trump's plan, while less ambitious than the version he released in 2015, would still largely benefit high-income households and result in a substantial boost in the federal debt.
Canadian Prime Minister Justin Trudeau will require every province to adopt a carbon tax or develop a carbon trading system by 2018. The idea could prove an interesting model for the United States.