Topic: U.S. House Committee on Ways and Means
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Tax VOX How to improve the tax subsidy for home ownership
In spite of its widespread use and large fiscal cost, the mortgage interest deduction does little to promote home ownership, Toder writes. It provides no subsidy to the nearly two-thirds of taxpayers who do not itemize and only a modest subsidy to those in the 15 percent bracket.
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Tax VOX Will Max Baucus retirement help tax reform? Don't count on it.
Some believe the retirement of Senate Finance Committee Chairman Max Baucus will increase the likelihood of tax reform, but Gleckman argues his retirement may not result in a tax code rewrite.
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To reinvigorate Republican Party, tea party takes page from Occupy
Tea party activists have come up with 10 bills that they call the New Fair Deal – a nod to ending special interests in D.C. The plan includes privatizing Social Security and replacing Obamacare.
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GOP's Rep. Dave Camp envisions inclusive path to a fiscal 'bargain'
Dave Camp, House Ways and Means Committee chairman, said Thursday that involving more members of Congress in budgeting and deficit-cutting could yield, if not a 'grand bargain,' at least a modest deal.
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Focus
Tax reform: Why a kinder, simpler tax code eludes Congress, so farAs Tax Day nears, Americans in the throes of preparing their returns may be dreaming of a simpler tax code. Here's why tax reform is such a tall order for Congress – and how two lawmakers are laying the groundwork for it now.
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Tax VOX Why tax policies should support new business, not small business
If Congress wants to encourage risk-taking, it may be better off focusing on new businesses, not small businesses, Gale writes.
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Tax VOX Should the US adopt a territorial tax system?
Backers of a territorial tax system argue that the current worldwide system puts US firms at a competitive disadvantage since they must pay the high US tax rate on repatriated profits earned by their affiliates in low-tax countries, while multinationals based in territorial countries pay only the local tax rate on these profits, Toder writes.
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Paul Ryan's tax numbers: Just 'magic asterisks'? (+video)
Paul Ryan's proposed budget envisions lower and simpler tax brackets even as it projects tax revenues as a higher percentage of GDP. Some suggest he'll need magic as well as math to get there.
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Tax VOX How would Paul Ryan's tax plan work?
Paul Ryan's tax play mimics the tactics of the 2012 campaign, Gleckman writes, promising tax reform built around wildly ambitious but gauzy rate reductions without a word about how to pay for them.
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Tax VOX How to simplify the tax code in 2013
Making the tax code less complicated and more efficient may not achieve the rate-cutting, base-broadening reform many want, Gleckman writes, but it can have important consequences for real people.
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Tax VOX State of the Union address: Can Obama pull off corporate tax reform?
President Barack Obama's State of the Union address will likely touch on tax reform, Gleckman writes, but it remains to be seen whether even corporate reform is possible in 2013.
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Tax VOX The burden of choice weighs on the tax system
The current taxation of derivatives is complicated and inconsistent, Rosenthal writes. Investors often use these tax differences to manipulate the character, timing, or source of their income to reduce their tax liability, he adds.
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Rep. Sander Levin: ‘Dribble by dribble’ approach undermines tax reform
Dragging out negotiations on the debt ceiling could potentially harm the US and global economies, not to mention tax and entitlement reforms, says Rep. Sander Levin (D) of Michigan.
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Rep. Sander Levin: Debt ceiling standoff may make tax reform harder
Michigan's Rep. Sander Levin, top Democrat on the House Ways and Means Committee, says slow-walking the debt ceiling would also undermine prospects for immigration overhaul and tax reform.
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Tax reform: If both parties love it, why doesn't it go anywhere?
A speech by the an oil industry lobbying group Tuesday showed how interest groups are influencing the process, worried that they could be the big loser in tax reform.
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Opinion: 'Fiscal cliff' or not, tax reform is easier said than done
As part of any deal on the 'fiscal cliff,' Congress will likely take up comprehensive tax reform. That's a worthy goal, but it will involve more political and economic pain than most would like to admit. Every line in the tax code has its own constituency and rationale.
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Tax VOX Five tough challenges for Obama's second term
With his reelection Tuesday, President Obama faces a second term full of painful choices on issues ranging from the fiscal cliff to Medicare and Medicaid, Gleckman writes.
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Opinion: After Penn State scandal, Congress should make NCAA put students, education first
In light of the scandal at Penn State, which reveals how big-time college sports often overwhelm the core values of higher education, Congress should closely examine whether the NCAA is running a not-for-profit enterprise or a commercial entertainment empire.
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List of legislation left undone as Congress departs for vacation
Major bills that Congress left unfinished as it left for its August recess:
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Tax reform takes bipartisan step in Senate. Could something come of it?
To 'develop trust' before taking on the heavy lifting of tax reform, Senate tax-writers are attempting to proceed along bipartisan lines, starting with the extension of a reduced number of expiring tax breaks.
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Tax cuts: Obama, Hatch trade barbs
Tax cuts were subject of Obama's Saturday radio address, where he urged GOP to extend Bush-era tax cuts for all but the wealthy. Republican Sen. Hatch blasted Democrats for trying to raise taxes on businesses.
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Romney pressed to release tax returns. Watchdogs ask what about Congress?
Democrats and some Republicans are hounding Mitt Romney to release his tax returns. But ask Congress members to release theirs and silence is the most frequent response. Double standard?
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Tax VOX Congressional senior moment? Flip-flopping on Bowles-Simpson
Suddenly, the tough budget reform proposed by Alan Simpson and Erskine Bowles is getting a second look. Oh, politicians don’t love the real plan, but they are positively enamored of their own self-edited, stripped-down versions.
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Is today's Democratic primary the last hurrah for Rep. Charles Rangel?
Charles Rangel has a storied past in Harlem and the US House of Representatives, where he has served 21 terms. But ethics violations, censure, and redistricting could take a toll in Tuesday's primary.
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Tax VOX The great tax debate: Dueling Congressional tax proposals clash
While optimists may hang on to the small morsels of agreement between Senator Baucus and Representative Camp's tax reform proposals, in general the dueling plans are opposites, making bipartisan cooperation on the issue seem unlikely.
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