Details and Analysis of President Biden’s American Jobs Plan
Details and analysis of the American Jobs Plan tax proposals. Learn more about the major tax changes in the proposed Biden infrastructure plan.
9 min read
Expert
Alex Durante
Economist
Alex Durante is an Economist at the Tax Foundation, working on federal tax policy and model development. He previously served as a Taxes and Growth Fellow at the Tax Foundation from 2015 to 2016.
Alex worked as a research assistant for three years at the Federal Reserve Board on a household survey, where he coauthored reports on the “Economic Well-Being of U.S. Households.” From 2018 to 2019, he served as a staff economist on the Council of Economic Advisers, working primarily on trade policy and contributing economic analysis to the “Economic Report to the President.” He holds a BS in Economics from The College of New Jersey and an MS in Applied Economics from Johns Hopkins University.
Originally from New Jersey, Alex currently lives in Washington, D.C. His hobbies include tennis, boxing and mixed martial arts, and playing bass and drums.
Latest Work
Closer Look at Option to Restructure EITC/CTC to Help Low-Income Households
We take a closer look at the most extensive of these proposals: restructuring the Earned Income Tax Credit (EITC) and Child Tax Credit (CTC) based on the Family Security Act proposed by Sen. Mitt Romney (R-UT) in February.
3 min read
Reviewing Recent Evidence of the Effect of Taxes on Economic Growth
With the Biden administration proposing a variety of new taxes, it is worth revisiting the literature on how taxes, particularly on corporate and individual income, can impact economic growth.
9 min read
Financing Infrastructure Spending with Corporate Tax Increases Would Stunt Economic Growth
The Biden administration’s American Jobs Plan proposal to fund infrastructure spending relies on a bet that the benefits outweigh the costs of a higher corporate tax burden. Using the Tax Foundation model, we find that this trade-off is a bad one for the U.S. economy, resulting in reduced GDP, less capital investment, fewer jobs, and lower wages.
3 min read
Many Small Businesses Could Be Impacted by Biden Corporate Tax Proposals
Policymakers should recognize that corporate tax hikes will not only impact large firms, but many smaller and younger firms as well. Considering that many of these smaller firms are significant contributors to net job growth, raising corporate taxes at this time would not be conducive for a speedy economic recovery.
2 min read
Details and Analysis of Tax Proposals in President Biden’s American Families Plan
The Biden administration’s proposed American Families Plan includes several major tax changes. Explore the tax proposals in the American Families Plan.
10 min read
Evaluating Options to Help Low-Income Households
While strong economic growth—fueled by higher levels of investment, productivity, and jobs—will lift after-tax incomes over time, policies that provide relief by immediately boosting after-tax incomes of lower-income households are also available. As lawmakers consider such policies, they should keep in mind the trade-offs among them.
4 min read
Corporate Investment Outweighs Federal Revenue Losses Since TCJA
The Biden administration has argued for raising the corporate tax rate to offset the drop in federal corporate revenues following the Tax Cuts and Jobs Act (TCJA) of 2017, claiming it did not lead to more corporate investment as advertised. Although corporate revenues did drop following this tax reform, the ensuing increase in corporate investment far exceeds these revenue losses.
1 min read
New Research Finds Limited Effects on Taxpayer Behavior from Pass-through Deduction
While proponents of the Section 199A pass-through deduction claimed it would boost investment and critics claimed it would encourage tax avoidance and income shifting, new research casts doubt on both claims.
3 min read
Changes to the Tax Base Matter When Evaluating the Impact of Tax Reforms
A new study illustrates how overlooking an important element of the tax system—the structure of the tax base—can lead to an incomplete understanding of how tax reform impacts the economy.
4 min read