Topic: Tax Policy Center

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Briefing
Fiscal deal will cost you: 8 tax changes

Here are eight tax changes under the 'fiscal cliff' deal that may hit your pocketbook.
'Fiscal cliff' 101: 5 basic questions answered

President Obama and congressional leaders are working to stop the US from going over the “fiscal cliff,” a combination of higher taxes and lower spending set to take effect Jan. 1. Here are five steps to understanding what's going on.
Briefing
Who are the '47 percent'?

Half don't earn enough to pay federal income taxes; many pay other ways.
Who are the 47 percent? 5 jobs held by people who pay no income tax.

Mitt Romney says 47 percent of Americans don't pay federal income taxes – and he was right. Half of that 47 percent are workers who hold jobs that don't pay enough for them to owe income taxes to Uncle Sam. What kinds of jobs are these?
The Paul Ryan budget: 5 go-to sources for understanding it

Looking for in-depth analysis of the Paul Ryan budget plan? D.C. Decoder has compiled a list of excellent sources to help you sort out truth from fiction.

All Content

Seven ways to reform a broken tax system

Tax reform should include a redesign of income tax.
State of the Union: what Obama didn't say

State of the Union speech disappoints policymakers.
House Democrats say Obama caved on tax-cut deal. Are they wrong?

By one analysis of the deal on extending the Bush tax cuts, Obama got more than the Republicans did. The measures he sought cost three times more than those the GOP sought. But can that help him change the minds of Democrats on Capitol Hill?
Unemployment benefits and tax cuts: winners and losers of the Obama-GOP tax deal

Unemployment benefits and tax cuts will help middle class Americans, argued President Obama. True, but the plan helps everyone else, too – except the ballooning deficit.
Bush tax cuts 101: Do tax cuts for the rich help the economy?

Some Democrats are in revolt now that President Obama has backed a deal to extend all the Bush tax cuts – even to the rich. Economists differ on the value of tax cuts for the rich.
Bush tax cuts 101: Who will get what if Obama deal passes?

The tax-cut accord forged this week by President Obama and congressional leaders would give Americans a substantial income boost, whatever tax bracket they're in. Critics say it would push up the national debt and includes an unnecessary giveaway to the rich. Supporters say the cuts are much-needed fuel for the economy. It's a broad package that, if approved by Congress, would include much more than just a two-year extension of the Bush tax cuts. Here's a look at who gets what:
Estate tax deal: worst part of a bad tax compromise

Estate tax provision would exempt first $5 million and charge only 35 percent on the rest of wealthy estates.
Tax calculator 2.0: How will tax proposals affect your 1040?

The Tax Policy Center offers a tool to allow people to see how the proposed changes to federal tax policy would affect YOU.
Don't believe the hype: The deficit proposals are plenty progressive.

Let's agree on the facts, regardless of the politics: the Bowles-Simpson plan and Rivlin-Domenici plan will raise taxes on the rich. Not marginal tax rates, but average tax rates.
Would the Bowles-Simpson proposal raise or lower your taxes?

How will a proposed budget affect your taxes? It depends entirely on how you define now. 'Current law' and 'current policy' turn out to be very different baselines.
Debt reduction plan helps childless workers

Debt reduction plan would allow federal aid to flow to low-income families without children.
Deficit reduction plan would tax health insurance

No more tax breaks for employee health insurance plans, according to Bowles-Simpson deficit plan.
Want a vacation from paying taxes? BPC takes on the deficit.

The Bipartisan Policy Commission has released a tax reform plan that slashes spending and reinvents tax policy: starting with a year-long payroll tax holiday.
Bowles-Simpson plan raises everybody's taxes

Bowles and Simpson want to raise taxes across the board while lowering rates. How? Ending deductions and credits.
What will the lame duck Congress do with the Bush tax cuts?

Congress desperately needs to pass continuing budget measures and 2010 (yes, 2010) tax policy, but will they?
Death tax showdown at the OK Corral

Ranchers want to die before year end to avoid the estate tax, claims Rep. Lummis. Whether or not the story is true, the underpinnings are myths: the family ranch and a looming 'death tax.'
Surprise! You got a tax cut! (You just didn't notice.)

Many Americans got a tax cut last year, but most didn't notice the decreased payroll deductions. It might be good economics, but it's bad politics.
Tax the rich, not small business

Small business growth powers the economy. If Obama extends the tax cuts on small business owners, will that hurt more than it helps?
Obama tax plan: Who gets hit?

We've all heard that 'nobody making less than $250,000' gets a tax increase. But just how is President Obama defining that?
Tax cuts? Nice, but how would Mitch McConnell pay for them?

Tax cuts: The GOP's McConnell wants to extend the Bush-era tax cuts, but he might have to shut down half the federal government to pay for them.
In the tea-party-free zone: a serious debate on the budget deficit

Disagreements over the deficit go deeper than rhetoric, let alone angry slogans. Important points have been made on both sides - and you deserve to hear them.
Wondering how proposed tax changes will affect YOU?

The Tax Policy Center has created a 'Tax Calculator' that will determine your taxes on the basis of your income, family size, number of children, etc. Plug in your details and find out how proposed tax changes will affect your 1040.
Bush tax cuts 101: What changes could be in store for taxpayers?

If Congress does nothing, the Bush tax cuts expire at the end of this year. Here's a look at the options now being debated.
Tax cut smackdown: Obama vs. Boehner (and Orszag)

President Obama and House Minority Leader John Boehner both want to extend tax cuts for the middle class, but have squared off over cuts for the wealthy.
Bush/Obama tax cuts: both plans extend the tax cuts for most Americans

Despite the rhetoric, the Administration proposal would still extend nearly all of the 2001 and 2003 tax cuts, increasing the deficit by $3 trillion instead of $3.7 trillion over the next decade.