Some lawmakers claim a border-adjustable tax will raise massive amounts of revenue to help pay for corporate tax cuts and give a powerful jolt to US-based manufacturers. But both cannot be true.
February 15 was the first day those who claim either the EITC or the ACTC could have received their 2016 tax refunds. This is several weeks later than in past years.
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.
Marriage gives most couples a tax cut but it can also boost a couple’s tax bill, sometimes by a lot.
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.
The President wants US companies to stay put, and he vows to remember the “forgotten people,” or working class Americans. Some of those Americans are corporate shareholders. Are there ways to reform the US corporate tax system that benefits them?
President Trump's ideas for making Mexico pay for the wall are not going to work. He needs another strategy.
Two-thirds of states enter the year with deficits; 32 spent less in real terms in 2016 than in 2008. Now states must also shift their attention to the gathering fiscal storm clouds in Washington.
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.
Why do state and local governments collect taxes and allocate spending the way they do? A new interactive, online tool breaks down state spending.
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?
Supporters of the GOP tax plan say it would boost investment and economic growth. But I explain how it may provide little benefit – or even reduce investment – especially among very large and public companies.
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.
The corporate tax is ripe for reform. The Republican tax reform proposal is an excellent way to kick-start the needed discussion.
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.