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.
Congress and President Trump are embarking on what is likely to be a major rewrite of the federal income tax code. Yet no one knows whether the hundreds of tax preferences embedded in the law accomplish their purpose.
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.
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?
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.