Today, for the first time in ten years, the U.S. House of Representatives has voted to repeal the federal estate tax. The final vote on HR 1105 was 240-179, with 233 Republicans and 7 Democrats voting yea. The bill was...
- Top Quintile Now Pays 94% of Income Taxes
Top Quintile Now Pays 94% of Income Taxes
Key Findings The average combined federal, state, and local top marginal tax rate on long-term capital gains in the United States is 28.6 percent – 6th highest in the OECD. This is more than 10 percentage points higher than the simple...
Executive Summary Senators Marco Rubio (R-FL) and Mike Lee (R-UT) have developed a plan to reform the individual and corporate income tax codes. Major elements of the plan would: Reduce the number of tax brackets to two (15 percent and 35...
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