A high-powered group of Republicans and business executives proposed replacing regulations for reducing greenhouse gases with a carbon tax. The two most interesting things about this initiative are who proposed it and what they’d do with the money.
On one hand, there are curbs that could not be ignored even if the US Congress changed the tax law. On the other, many clergy already engage in some campaigning. And for the most part, the IRS looks the other way.
Tax writers will have to resolve scores of legal and economic problems before enacting GOP's tax plan. Addressing any one will be a complex and time-consuming. Dealing with them all could be a policy nightmare.
President Trump and Congress are likely to consider an historically broad range of tax and spending changes over the next year. But they’ll be doing so in the face of unprecedented long-term fiscal challenges, according to new estimates.
More than ever, it looks like Congress will settle for a big tax cut and abandon reform.
In Washington-speak, there's a debate about the merits of border adjusted taxes and a border tax. To any normal human, these sound like the same thing. But trust me, they are not.
Top presidential adviser Kellyanne Conway has made an important rhetorical pivot: The Trump Administration may no longer be pushing for tax 'cuts' or even tax 'reform.' Its new goal is tax 'relief.' Why is this messaging change important?
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.