State and local governments depend on many different types of taxes, one of which is known as an excise tax. Like general sales taxes, excise taxes are paid on the purchase of an item. But unlike sales taxes, excise...
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- Responses to Senator Baucus’s Staff Discussion Drafts
Responses to Senator Baucus’s Staff Discussion Drafts
Today is the deadline for submitting formal comments to the Senate Finance Committee in response to Senator Baucus’s tax reform staff discussion drafts.
Following the release of the drafts, we produced a series of research and analysis on the content of the discussion draft.
Generally speaking, we found that the tax reform proposals in these drafts go in the wrong direction. Our modeling shows that they damage economic growth, hurt investment, and, in many instances, violate the principles of sound tax policy: simplicity, transparency, neutrality, and stability.
We believe that economic growth should be the focus of tax reform. A plan that focuses on the core principles of sound tax policy can grow the economy and improve the standard of living for all taxpayers in America.
Included below is the collection of research and analysis we produced in response to Senator Baucus’s staff discussion drafts.
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The Tax Policy Blog is the official blog of the Tax Foundation, a non-partisan, non-profit research organization that has monitored tax policy at the federal, state and local levels since 1937. Our economists welcome your feedback. If you would like to send an e-mail to the author of a blog post, please click on that person's name to locate his or her e-mail address or visit our staff page here.